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

Ares Commercial Real Estate Co. (NYSE:ACRE) has been given an average recommendation of “Reduce” by the seven research firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $7.10.

A number of analysts have recently weighed in on the company. Wells Fargo & Company cut Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $7.50 to $7.00 in a research report on Friday, September 20th. JPMorgan Chase & Co. dropped their target price on Ares Commercial Real Estate from $7.00 to $6.50 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. StockNews.com raised shares of Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Ares Commercial Real Estate in a report on Monday, December 9th.

Ares Commercial Real Estate Price Performance

Shares of NYSE:ACRE opened at $6.21 on Monday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.38. The firm has a 50-day simple moving average of $6.84 and a 200 day simple moving average of $7.02. Ares Commercial Real Estate has a fifty-two week low of $6.20 and a fifty-two week high of $11.24. The company has a market cap of $338.71 million, a PE ratio of -5.26 and a beta of 1.48.

Ares Commercial Real Estate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 16.10%. Ares Commercial Real Estate’s dividend payout ratio is presently -84.75%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Prevail Innovative Wealth Advisors LLC bought a new position in shares of Ares Commercial Real Estate during the 2nd quarter valued at about $894,000. Van ECK Associates Corp boosted its holdings in Ares Commercial Real Estate by 26.9% during the second quarter. Van ECK Associates Corp now owns 524,694 shares of the real estate investment trust’s stock worth $3,489,000 after buying an additional 111,194 shares in the last quarter. Barclays PLC grew its position in Ares Commercial Real Estate by 279.8% in the third 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. Centiva Capital LP bought a new position in shares of Ares Commercial Real Estate in the third quarter valued at $253,000. Finally, Penserra Capital Management LLC lifted its position in shares of Ares Commercial Real Estate by 23.0% during the 3rd quarter. Penserra Capital Management LLC now owns 149,365 shares of the real estate investment trust’s stock valued at $1,045,000 after acquiring an additional 27,900 shares during the last quarter. Institutional investors and hedge funds own 41.34% of the company’s stock.

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.