Wall Street Zen upgraded shares of Ares Commercial Real Estate (NYSE:ACRE – Free Report) from a sell rating to a hold rating in a report published on Saturday morning.
ACRE has been the topic of a number of other research reports. Keefe, Bruyette & Woods decreased their price target on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Citizens Jmp restated a “market perform” rating on shares of Ares Commercial Real Estate in a research note on Thursday, July 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ares Commercial Real Estate in a report on Monday, May 11th. JPMorgan Chase & Co. decreased their target price on shares of Ares Commercial Real Estate from $5.50 to $5.00 and set a “neutral” rating on the stock in a research report on Friday, July 17th. Finally, UBS Group initiated coverage on shares of Ares Commercial Real Estate in a research note on Tuesday, June 2nd. They issued a “neutral” rating and a $5.50 target price on the stock. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Ares Commercial Real Estate presently has a consensus rating of “Reduce” and an average price target of $5.25.
Check Out Our Latest Research Report on ACRE
Ares Commercial Real Estate Trading Up 0.8%
Ares Commercial Real Estate (NYSE:ACRE – Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). The firm had revenue of $13.46 million for the quarter, compared to the consensus estimate of $11.63 million. Ares Commercial Real Estate had a negative net margin of 37.21% and a negative return on equity of 2.80%. On average, sell-side analysts predict that Ares Commercial Real Estate will post 0.4 EPS for the current year.
Ares Commercial Real Estate Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.60 annualized dividend and a yield of 13.2%. Ares Commercial Real Estate’s payout ratio is currently -166.67%.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp grew its stake in Ares Commercial Real Estate by 947.2% during the fourth quarter. Van ECK Associates Corp now owns 647,546 shares of the real estate investment trust’s stock worth $3,095,000 after buying an additional 585,711 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Ares Commercial Real Estate during the second quarter worth approximately $2,685,000. Focus Partners Wealth bought a new position in shares of Ares Commercial Real Estate in the fourth quarter valued at approximately $2,441,000. North Ground Capital raised its stake in shares of Ares Commercial Real Estate by 34.0% in the fourth quarter. North Ground Capital now owns 1,551,806 shares of the real estate investment trust’s stock valued at $7,418,000 after acquiring an additional 393,943 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Ares Commercial Real Estate by 95.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 391,257 shares of the real estate investment trust’s stock worth $1,870,000 after acquiring an additional 190,900 shares in the last quarter. 41.34% of the stock is currently owned by institutional investors and hedge funds.
About Ares Commercial Real Estate
Ares Commercial Real Estate Corporation (NYSE: ACRE) is a publicly traded real estate investment trust (REIT) primarily focused on commercial real estate debt investments. Externally managed by an affiliate of Ares Management Corporation, ACRE seeks to generate attractive risk-adjusted returns through its diversified portfolio of CRE financing strategies. The company specializes in originating, acquiring, financing and managing first mortgages, mezzanine loans, preferred equity and other structured finance products.
Since its inception, Ares Commercial Real Estate has targeted a broad range of property types, including multifamily, office, industrial, retail and hospitality assets.
Further Reading
- Five stocks we like better than Ares Commercial Real Estate
- Telecom Earnings Reveal a Sector That Finally Looks Healthier
- Defense Earnings Show Readiness Now and Modernization Ahead
- Why Palantir Investors Aren’t Panicking While the Rest of AI Sells Off
- MarketBeat Week in Review – 07/20- 07/24
Receive News & Ratings for Ares Commercial Real Estate Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Commercial Real Estate and related companies with MarketBeat.com's FREE daily email newsletter.
