Ares Commercial Real Estate Corporation (NYSE:ACRE – Get Free Report) has been given an average recommendation of “Reduce” by the seven research firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $5.00.
A number of research analysts have issued reports on the company. Weiss Ratings cut Ares Commercial Real Estate from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, October 14th. Keefe, Bruyette & Woods lowered their price target on Ares Commercial Real Estate from $5.50 to $4.50 and set an “outperform” rating for the company in a report on Friday, October 9th. Citizens Jmp reaffirmed a “market perform” rating on shares of Ares Commercial Real Estate in a research report on Thursday, July 9th. Wall Street Zen raised 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 Ares Commercial Real Estate from $5.50 to $5.00 and set a “neutral” rating on the stock in a report on Friday, July 17th.
Check Out Our Latest Report on ACRE
Ares Commercial Real Estate Stock Performance
Shares of NYSE:ACRE opened at $3.40 on Thursday. Ares Commercial Real Estate has a 52 week low of $3.16 and a 52 week high of $5.89. The company has a market capitalization of $188.91 million, a PE ratio of -42.56 and a beta of 1.19. The company has a 50 day moving average price of $4.12 and a two-hundred day moving average price of $4.69.
Ares Commercial Real Estate (NYSE:ACRE – Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The real estate investment trust reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.08. Ares Commercial Real Estate had a negative net margin of 8.04% and a positive return on equity of 4.08%. The company had revenue of $14.36 million for the quarter, compared to analysts’ expectations of $10.96 million. On average, sell-side analysts forecast that Ares Commercial Real Estate will post 0.39 earnings per share for the current year.
Ares Commercial Real Estate Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 17.6%. The ex-dividend date of this dividend was Wednesday, September 30th. Ares Commercial Real Estate’s dividend payout ratio is presently -750.00%.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in shares of Ares Commercial Real Estate during the second quarter worth $21,024,000. North Ground Capital bought a new stake in Ares Commercial Real Estate in the 2nd quarter valued at $5,544,000. Cura Wealth Advisors LLC bought a new stake in Ares Commercial Real Estate in the 2nd quarter valued at $4,060,000. Almitas Capital LLC acquired a new position in Ares Commercial Real Estate in the 2nd quarter worth $814,000. Finally, Bank of New York Mellon Corp acquired a new position in Ares Commercial Real Estate in the 2nd quarter worth $719,000. Institutional investors own 41.34% of the company’s stock.
About Ares Commercial Real Estate
Ares Commercial Real Estate Corporation is a specialty finance company organized as a real estate investment trust (REIT). The company originates and invests in commercial real estate loans, with a primary focus on senior mortgage loans secured by properties in the United States.
Its investment portfolio may include loans backed by multifamily, office, industrial, retail, hotel and other commercial properties. Ares Commercial Real Estate generally targets transitional and other commercial real estate assets that require financing for acquisition, redevelopment, renovation or repositioning.
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