Ares Commercial Real Estate (NYSE:ACRE – Free Report) had its price target lowered by Keefe, Bruyette & Woods from $6.00 to $5.50 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the real estate investment trust’s stock.
Several other equities research analysts have also recently weighed in on the company. Wells Fargo & Company increased their price target on Ares Commercial Real Estate from $4.00 to $5.00 and gave the company an “underweight” rating in a research note on Thursday, February 12th. Zacks Research cut shares of Ares Commercial Real Estate from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Weiss Ratings reiterated a “sell (d)” rating on shares of Ares Commercial Real Estate in a research report on Monday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a “neutral” rating for the company in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $5.25.
View Our Latest Analysis on Ares Commercial Real Estate
Ares Commercial Real Estate Trading Down 1.7%
Ares Commercial Real Estate Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.60 annualized dividend and a yield of 12.6%. Ares Commercial Real Estate’s dividend payout ratio (DPR) is currently -166.67%.
Institutional Investors Weigh In On Ares Commercial Real Estate
Large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. grew its holdings in Ares Commercial Real Estate by 456.0% in the third quarter. Russell Investments Group Ltd. now owns 6,033 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 4,948 shares during the period. Triumph Capital Management acquired a new stake in Ares Commercial Real Estate in the third quarter worth $38,000. Strs Ohio acquired a new stake in Ares Commercial Real Estate in the first quarter worth $47,000. 180 Wealth Advisors LLC acquired a new stake in Ares Commercial Real Estate in the fourth quarter worth $49,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of Ares Commercial Real Estate by 100.3% during the third quarter. BNP Paribas Financial Markets now owns 10,367 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 5,192 shares in 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 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.
Recommended Stories
- Five stocks we like better than Ares Commercial Real Estate
- D-Wave Earnings Looked Weak, But Investors May Be Missing This
- Nebius Upside Expands as AI Feedback Loop Intensifies
- Insider Trades: Okta and Abbott See Buys, Micron Insiders Sell
- Plug Power Flips The Switch On Profitability
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.
