Ares Commercial Real Estate (NYSE:ACRE – Free Report) had its price target decreased by Keefe, Bruyette & Woods from $5.50 to $4.50 in a research note released on Friday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the real estate investment trust’s stock.
Other research analysts have also issued reports about the stock. Zacks Research upgraded shares of Ares Commercial Real Estate from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th. Weiss Ratings upgraded shares of Ares Commercial Real Estate from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, September 29th. Citizens Jmp reiterated a “market perform” rating on shares of Ares Commercial Real Estate in a report on Thursday, July 9th. Wall Street Zen raised shares of Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Ares Commercial Real Estate from $5.50 to $5.00 and set a “neutral” rating for the company in a research report on Friday, July 17th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $5.00.
Get Our Latest Analysis on ACRE
Ares Commercial Real Estate Stock Down 0.1%
Ares Commercial Real Estate (NYSE:ACRE – Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The real estate investment trust reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.08. The business had revenue of $14.36 million for the quarter, compared to analyst estimates of $10.96 million. Ares Commercial Real Estate had a positive return on equity of 4.08% and a negative net margin of 8.04%. As a group, analysts anticipate that Ares Commercial Real Estate will post 0.39 EPS for the current year.
Ares Commercial Real Estate Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 16.9%. Ares Commercial Real Estate’s payout ratio is currently -750.00%.
Hedge Funds Weigh In On Ares Commercial Real Estate
Several institutional investors have recently added to or reduced their stakes in the business. North Ground Capital acquired a new stake in shares of Ares Commercial Real Estate in the second quarter worth approximately $5,544,000. Cura Wealth Advisors LLC purchased a new stake in Ares Commercial Real Estate in the second quarter valued at approximately $4,060,000. BlackRock Inc. acquired a new position in Ares Commercial Real Estate during the second quarter worth approximately $21,024,000. Bank of New York Mellon Corp acquired a new position in Ares Commercial Real Estate during the second quarter worth approximately $719,000. Finally, Alpine Global Management LLC increased its position in Ares Commercial Real Estate by 27.8% during the fourth quarter. Alpine Global Management LLC now owns 759,110 shares of the real estate investment trust’s stock worth $3,629,000 after purchasing an additional 165,193 shares during the last quarter. 41.34% of the stock is currently owned by institutional investors and hedge funds.
Ares Commercial Real Estate Company Profile
Ares Commercial Real Estate Corporation (NYSE: ACRE) is a real estate investment trust focused on commercial real estate finance. The company originates and invests in loans and other credit-related investments secured by commercial properties, with an emphasis on providing financing to property owners and investors.
Its investment activities include senior mortgage loans, mezzanine loans, subordinated loans and other forms of commercial real estate debt. The company generally targets properties such as multifamily, office, industrial, retail, hospitality and other commercial assets, including both stabilized and transitional properties.
Ares Commercial Real Estate primarily serves borrowers and real estate sponsors in the United States.
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