Ares Commercial Real Estate Co. (NYSE:ACRE) Receives $7.10 Consensus PT from Brokerages

Shares of Ares Commercial Real Estate Co. (NYSE:ACRE) have been assigned an average rating of “Reduce” from the seven research firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $7.10.

ACRE has been the topic of several research analyst reports. Wells Fargo & Company cut shares of Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $7.50 to $7.00 in a research note on Friday, September 20th. StockNews.com raised shares of Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research report on Tuesday, December 17th. JMP Securities restated a “market perform” rating on shares of Ares Commercial Real Estate in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. cut their price target on Ares Commercial Real Estate from $7.00 to $6.50 and set a “neutral” rating for the company in a report on Thursday, October 17th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. FMR LLC boosted its holdings in Ares Commercial Real Estate by 211.0% during the 3rd quarter. FMR LLC now owns 7,741 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 5,252 shares during the period. Ameritas Advisory Services LLC bought a new position in shares of Ares Commercial Real Estate in the second quarter worth about $68,000. BNP Paribas Financial Markets increased its stake in Ares Commercial Real Estate by 17.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,733 shares of the real estate investment trust’s stock worth $82,000 after buying an additional 1,711 shares during the period. XTX Topco Ltd bought a new stake in Ares Commercial Real Estate during the 2nd quarter valued at about $82,000. Finally, Quest Partners LLC lifted its holdings in shares of Ares Commercial Real Estate by 1,329,500.0% in the 2nd quarter. Quest Partners LLC now owns 13,296 shares of the real estate investment trust’s stock worth $88,000 after buying an additional 13,295 shares during the period. Institutional investors own 41.34% of the company’s stock.

Ares Commercial Real Estate Price Performance

ACRE opened at $6.39 on Monday. The firm has a market cap of $348.52 million, a PE ratio of -5.42 and a beta of 1.48. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.87 and a quick ratio of 0.87. Ares Commercial Real Estate has a 1 year low of $6.02 and a 1 year high of $11.24. The stock has a 50-day moving average price of $6.84 and a 200-day moving average price of $7.01.

Ares Commercial Real Estate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 15.65%. The ex-dividend date is Tuesday, December 31st. Ares Commercial Real Estate’s payout ratio is currently -84.75%.

Ares Commercial Real Estate Company Profile

Ares Commercial Real Estate Corporation, a specialty finance company, originates and invests in commercial real estate (CRE) loans and related investments in the United States. It provides a range of financing solutions for the owners, operators, and sponsors of CRE properties. The company originates senior mortgage loans, subordinate debt and preferred equity products, mezzanine loans, and other CRE investments, including commercial mortgage-backed securities.