Ares Commercial Real Estate (NYSE:ACRE) Announces Earnings Results

Ares Commercial Real Estate (NYSE:ACREGet Free Report) posted its quarterly earnings results on Monday. The real estate investment trust reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.08, FiscalAI reports. Ares Commercial Real Estate had a negative return on equity of 2.80% and a negative net margin of 37.21%.The business had revenue of $14.36 million for the quarter, compared to analysts’ expectations of $10.96 million.

Ares Commercial Real Estate Trading Up 10.7%

Shares of NYSE:ACRE traded up $0.46 during mid-day trading on Tuesday, reaching $4.71. The stock had a trading volume of 481,740 shares, compared to its average volume of 471,317. The company has a market cap of $261.04 million, a P/E ratio of -13.07 and a beta of 1.15. Ares Commercial Real Estate has a 1 year low of $4.05 and a 1 year high of $5.89. The business’s 50 day moving average price is $4.64 and its 200 day moving average price is $4.90.

Ares Commercial Real Estate Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 12.8%. The ex-dividend date of this dividend was Tuesday, June 30th. Ares Commercial Real Estate’s payout ratio is -166.67%.

Hedge Funds Weigh In On Ares Commercial Real Estate

Several institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC purchased a new stake in shares of Ares Commercial Real Estate during the 1st quarter worth approximately $129,000. Acadian Asset Management LLC bought a new position in shares of Ares Commercial Real Estate during the 1st quarter valued at approximately $166,000. Strs Ohio purchased a new position in shares of Ares Commercial Real Estate in the first quarter valued at $47,000. Rhumbline Advisers grew its holdings in shares of Ares Commercial Real Estate by 6.5% in the second quarter. Rhumbline Advisers now owns 83,886 shares of the real estate investment trust’s stock valued at $400,000 after purchasing an additional 5,107 shares in the last quarter. Finally, Prudential Financial Inc. bought a new stake in Ares Commercial Real Estate in the second quarter worth $187,000. Hedge funds and other institutional investors own 41.34% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on ACRE. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ares Commercial Real Estate in a research note on Monday, May 11th. Wall Street Zen downgraded Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a research note on Sunday. Zacks Research upgraded shares of Ares Commercial Real Estate from a “strong sell” rating to a “hold” rating in a research report on Friday, July 10th. Keefe, Bruyette & Woods lowered their target price on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Finally, UBS Group began coverage on shares of Ares Commercial Real Estate in a report 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 assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Ares Commercial Real Estate has a consensus rating of “Reduce” and an average price target of $5.25.

Get Our Latest Stock Report on ACRE

About Ares Commercial Real Estate

(Get Free Report)

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.

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Earnings History for Ares Commercial Real Estate (NYSE:ACRE)

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