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

Ares Commercial Real Estate Co. (NYSE:ACRE) has been given a consensus recommendation of “Reduce” by the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $7.10.

A number of research firms have commented on ACRE. StockNews.com cut shares of Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. Wells Fargo & Company cut shares of Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $7.50 to $7.00 in a research report on Friday, September 20th. Finally, JPMorgan Chase & Co. dropped their target price 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 and other institutional investors have recently bought and sold shares of the stock. FMR LLC raised its stake in Ares Commercial Real Estate by 211.0% in the third quarter. FMR LLC now owns 7,741 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 5,252 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in Ares Commercial Real Estate in the second quarter valued at about $68,000. XTX Topco Ltd acquired a new position in Ares Commercial Real Estate in the second quarter valued at about $82,000. BNP Paribas Financial Markets grew its position in Ares Commercial Real Estate by 17.1% in the third quarter. BNP Paribas Financial Markets now owns 11,733 shares of the real estate investment trust’s stock valued at $82,000 after acquiring an additional 1,711 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new position in Ares Commercial Real Estate in the first quarter valued at about $84,000. Institutional investors and hedge funds own 41.34% of the company’s stock.

Ares Commercial Real Estate Price Performance

NYSE:ACRE opened at $7.29 on Thursday. Ares Commercial Real Estate has a 1-year low of $6.25 and a 1-year high of $11.24. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.38. The firm has a fifty day simple moving average of $6.86 and a 200 day simple moving average of $6.99. The stock has a market capitalization of $397.60 million, a PE ratio of -6.27 and a beta of 1.46.

Ares Commercial Real Estate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 13.72%. The ex-dividend date is Tuesday, December 31st. Ares Commercial Real Estate’s dividend payout ratio (DPR) is presently -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.