Ares Commercial Real Estate Co. (ACRE) To Go Ex-Dividend on December 31st

Ares Commercial Real Estate Co. (NYSE:ACRE) declared a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Shareholders of record on Tuesday, December 31st will be paid a dividend of 0.25 per share by the real estate investment trust on Wednesday, January 15th. This represents a $1.00 annualized dividend and a yield of 16.37%. The ex-dividend date is Tuesday, December 31st.

Ares Commercial Real Estate has a payout ratio of 476.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Ares Commercial Real Estate to earn ($0.34) per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of -294.1%.

Ares Commercial Real Estate Stock Performance

Shares of NYSE ACRE opened at $6.11 on Friday. Ares Commercial Real Estate has a 12-month low of $6.02 and a 12-month high of $10.84. The firm has a market capitalization of $333.25 million, a price-to-earnings ratio of -5.18 and a beta of 1.48. 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 50 day moving average of $6.79 and a 200 day moving average of $6.98.

Analyst Ratings Changes

ACRE has been the subject of a number of recent research reports. JMP Securities reissued a “market perform” rating on shares of Ares Commercial Real Estate in a research report on Monday, December 9th. Wells Fargo & Company lowered Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $7.50 to $7.00 in a report on Friday, September 20th. JPMorgan Chase & Co. decreased their price objective on 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. Finally, StockNews.com upgraded Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research note on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $7.10.

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.