Ares Commercial Real Estate (NYSE:ACRE) Stock Gets Price Target Reduction from Wells Fargo & Company

by · The Cerbat Gem

Ares Commercial Real Estate (NYSE:ACRE – Free Report) had its price objective cut by Wells Fargo & Company from $5.00 to $3.50 in a research note issued to investors on Monday,Benzinga reports. They currently have an underweight rating on the real estate investment trust’s stock.

ACRE has been the subject of a number of other research reports. Keefe, Bruyette & Woods reduced their price target on Ares Commercial Real Estate from $5.50 to $4.50 and set an “outperform” rating for the company in a report on Friday, October 9th. Wall Street Zen raised Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings lowered Ares Commercial Real Estate from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, October 14th. Finally, JPMorgan Chase & Co. dropped their price objective on 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. One analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $4.55.

Check Out Our Latest Research Report on Ares Commercial Real Estate

Ares Commercial Real Estate Trading Up 1.7%

NYSE ACRE opened at $3.62 on Monday. The firm’s fifty day moving average price is $3.84 and its two-hundred day moving average price is $4.61. Ares Commercial Real Estate has a 1 year low of $3.16 and a 1 year high of $5.89. The firm has a market capitalization of $200.82 million, a P/E ratio of 181.04 and a beta of 1.22.

Ares Commercial Real Estate (NYSE:ACRE – Get Free Report) last announced its quarterly earnings data on Friday, November 6th. The real estate investment trust reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.08. The company had revenue of $13.51 million during the quarter, compared to the consensus estimate of $12.87 million. Ares Commercial Real Estate had a net margin of 1.76% and a return on equity of 4.38%. On average, research analysts anticipate that Ares Commercial Real Estate will post 0.39 EPS for the current fiscal year.

Ares Commercial Real Estate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be given a $0.15 dividend. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $0.60 annualized dividend and a dividend yield of 16.6%. Ares Commercial Real Estate’s dividend payout ratio is presently 3,000.00%.

Institutional Trading of Ares Commercial Real Estate

Several hedge funds and other institutional investors have recently modified their holdings of ACRE. BlackRock Inc. acquired a new position in Ares Commercial Real Estate in the 2nd quarter valued at about $21,024,000. North Ground Capital acquired a new stake in Ares Commercial Real Estate during 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 second quarter worth approximately $4,060,000. Ardent Capital Management Inc. boosted its holdings in shares of Ares Commercial Real Estate by 37.5% during the third 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 period. Finally, Almitas Capital LLC bought a new stake in shares of Ares Commercial Real Estate during the second quarter worth approximately $814,000. Institutional investors own 41.34% of the company’s stock.

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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