Ares Commercial Real Estate Co. (NYSE:ACRE – Get Free Report) has been given an average rating of “Reduce” by the seven analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and six have issued a hold rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $8.42.
A number of analysts have recently commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of Ares Commercial Real Estate from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, April 10th. Keefe, Bruyette & Woods cut their price objective on shares of Ares Commercial Real Estate from $7.50 to $7.00 and set a “market perform” rating on the stock in a report on Friday, May 10th. StockNews.com lowered shares of Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a report on Monday. Bank of America restated an “underperform” rating and issued a $7.00 price target (down previously from $11.00) on shares of Ares Commercial Real Estate in a research note on Monday, March 4th. Finally, TheStreet cut Ares Commercial Real Estate from a “c-” rating to a “d+” rating in a research note on Tuesday, March 5th.
View Our Latest Report on ACRE
Insider Buying and Selling at Ares Commercial Real Estate
In other Ares Commercial Real Estate news, CEO Bryan Patrick Donohoe acquired 3,509 shares of Ares Commercial Real Estate stock in a transaction that occurred on Sunday, March 10th. The stock was bought at an average cost of $14.32 per share, for a total transaction of $50,248.88. Following the acquisition, the chief executive officer now owns 41,259 shares of the company’s stock, valued at $590,828.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.80% of the company’s stock.
Institutional Trading of Ares Commercial Real Estate
A number of institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp boosted its stake in shares of Ares Commercial Real Estate by 0.3% in the 4th quarter. Van ECK Associates Corp now owns 386,179 shares of the real estate investment trust’s stock worth $4,001,000 after buying an additional 1,219 shares during the last quarter. Clearstead Advisors LLC boosted its position in Ares Commercial Real Estate by 9.7% in the third quarter. Clearstead Advisors LLC now owns 21,260 shares of the real estate investment trust’s stock worth $202,000 after purchasing an additional 1,876 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Ares Commercial Real Estate by 4.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 51,234 shares of the real estate investment trust’s stock valued at $382,000 after purchasing an additional 1,949 shares during the period. Jaffetilchin Investment Partners LLC increased its position in shares of Ares Commercial Real Estate by 15.4% during the 3rd quarter. Jaffetilchin Investment Partners LLC now owns 16,903 shares of the real estate investment trust’s stock valued at $161,000 after purchasing an additional 2,259 shares during the last quarter. Finally, Triumph Capital Management increased its position in shares of Ares Commercial Real Estate by 15.0% during the 1st quarter. Triumph Capital Management now owns 20,178 shares of the real estate investment trust’s stock valued at $146,000 after purchasing an additional 2,626 shares during the last quarter. Hedge funds and other institutional investors own 41.34% of the company’s stock.
Ares Commercial Real Estate Price Performance
ACRE stock opened at $6.48 on Thursday. The firm has a 50-day moving average of $6.95 and a 200 day moving average of $8.56. The company has a debt-to-equity ratio of 2.29, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $352.95 million, a P/E ratio of -7.80 and a beta of 1.42. Ares Commercial Real Estate has a 1 year low of $6.36 and a 1 year high of $11.24.
Ares Commercial Real Estate (NYSE:ACRE – Get Free Report) last announced its earnings results on Thursday, May 9th. The real estate investment trust reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.34). The firm had revenue of $18.69 million during the quarter, compared to the consensus estimate of $43.77 million. Ares Commercial Real Estate had a positive return on equity of 0.84% and a negative net margin of 54.60%. During the same period in the prior year, the company posted $0.26 EPS. On average, sell-side analysts forecast that Ares Commercial Real Estate will post -0.66 EPS for the current year.
Ares Commercial Real Estate Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 16th. Investors of record on Friday, June 28th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.00 dividend on an annualized basis and a yield of 15.44%. Ares Commercial Real Estate’s payout ratio is currently -120.48%.
About Ares Commercial Real Estate
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.
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