Ares Commercial Real Estate Corporation (NYSE:ACRE) Stock Has Average Target Price of $5.00 According to Brokerages

by · The Markets Daily

Ares Commercial Real Estate Corporation (NYSE:ACRE – Get Free Report) has received a consensus recommendation of “Reduce” from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $5.00.

Several research analysts have commented on ACRE shares. Zacks Research raised shares of Ares Commercial Real Estate from a “strong sell” rating to a “hold” rating in a research note on Friday, July 10th. Wall Street Zen upgraded shares of Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings downgraded shares of Ares Commercial Real Estate from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, October 14th. JPMorgan Chase & Co. reduced their target price on shares of Ares Commercial Real Estate from $5.50 to $5.00 and set a “neutral” rating on the stock in a research note on Friday, July 17th. Finally, Citizens Jmp restated a “market perform” rating on shares of Ares Commercial Real Estate in a report on Thursday, July 9th.

Check Out Our Latest Analysis on ACRE

Institutional Trading of Ares Commercial Real Estate

Several institutional investors have recently added to or reduced their stakes in ACRE. BlackRock Inc. bought a new position in shares of Ares Commercial Real Estate during the second quarter valued at approximately $21,024,000. North Ground Capital purchased a new stake in shares of Ares Commercial Real Estate in the second quarter worth approximately $5,544,000. Cura Wealth Advisors LLC bought a new stake in shares of Ares Commercial Real Estate during the 2nd quarter worth approximately $4,060,000. Ardent Capital Management Inc. lifted its stake in shares of Ares Commercial Real Estate by 37.5% during the 3rd quarter. Ardent Capital Management Inc. now owns 299,905 shares of the real estate investment trust’s stock worth $1,152,000 after acquiring an additional 81,816 shares during the last quarter. Finally, Almitas Capital LLC bought a new stake in shares of Ares Commercial Real Estate during the 2nd quarter worth approximately $814,000. Institutional investors own 41.34% of the company’s stock.

Ares Commercial Real Estate Price Performance

NYSE:ACRE opened at $3.35 on Thursday. The firm has a market capitalization of $185.58 million, a price-to-earnings ratio of -41.81 and a beta of 1.19. Ares Commercial Real Estate has a 1 year low of $3.16 and a 1 year high of $5.89. The business has a 50 day simple moving average of $4.14 and a 200-day simple moving average of $4.56.

Ares Commercial Real Estate (NYSE:ACRE – Get Free Report) last announced its earnings results on Monday, August 3rd. The real estate investment trust reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.08. Ares Commercial Real Estate had a positive return on equity of 4.08% and a negative net margin of 8.04%. The firm had revenue of $14.36 million during the quarter, compared to analysts’ expectations of $10.96 million. As a group, analysts expect that Ares Commercial Real Estate will post 0.39 earnings per share for the current fiscal year.

Ares Commercial Real Estate Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 17.9%. The ex-dividend date of this dividend was Wednesday, September 30th. Ares Commercial Real Estate’s dividend payout ratio is -750.00%.

About Ares Commercial Real Estate

(Get Free Report)

Ares Commercial Real Estate Corporation is a specialty finance company organized as a real estate investment trust (REIT). The company originates and invests in commercial real estate loans, with a primary focus on senior mortgage loans secured by properties in the United States.

Its investment portfolio may include loans backed by multifamily, office, industrial, retail, hotel and other commercial properties. Ares Commercial Real Estate generally targets transitional and other commercial real estate assets that require financing for acquisition, redevelopment, renovation or repositioning.

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