Ares Commercial Real Estate (NYSE:ACRE) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Ares Commercial Real Estate (NYSE:ACRE) from a sell rating to a hold rating in a research report report published on Tuesday.

Several other equities research analysts also recently weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Ares Commercial Real Estate from $7.00 to $6.50 and set a “neutral” rating on the stock in a research note on Thursday, October 17th. JMP Securities reaffirmed a “market perform” rating on shares of Ares Commercial Real Estate in a report on Monday, December 9th. Finally, Wells Fargo & Company downgraded shares of Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $7.50 to $7.00 in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, Ares Commercial Real Estate has a consensus rating of “Hold” and a consensus target price of $7.10.

Ares Commercial Real Estate Price Performance

ACRE stock opened at $6.57 on Tuesday. The business’s fifty day moving average price is $6.85 and its 200 day moving average price is $7.02. Ares Commercial Real Estate has a 12-month low of $6.25 and a 12-month 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 company has a market capitalization of $358.07 million, a PE ratio of -5.56 and a beta of 1.48.

Ares Commercial Real Estate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 15.23%. The ex-dividend date is Tuesday, December 31st. Ares Commercial Real Estate’s dividend payout ratio (DPR) is presently -84.75%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC raised its stake in shares of Ares Commercial Real Estate by 279.8% during the 3rd quarter. Barclays PLC now owns 69,821 shares of the real estate investment trust’s stock worth $489,000 after buying an additional 51,435 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Ares Commercial Real Estate by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,272,163 shares of the real estate investment trust’s stock worth $8,907,000 after purchasing an additional 16,309 shares in the last quarter. Jane Street Group LLC raised its position in shares of Ares Commercial Real Estate by 19.1% during the 3rd quarter. Jane Street Group LLC now owns 71,772 shares of the real estate investment trust’s stock worth $502,000 after purchasing an additional 11,511 shares during the last quarter. State Street Corp lifted its stake in Ares Commercial Real Estate by 2.3% in the 3rd quarter. State Street Corp now owns 1,052,314 shares of the real estate investment trust’s stock valued at $7,627,000 after buying an additional 23,845 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in Ares Commercial Real Estate by 1.0% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 861,390 shares of the real estate investment trust’s stock valued at $6,030,000 after buying an additional 8,900 shares during the last quarter. 41.34% of the stock is currently owned by institutional investors and hedge funds.

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.