UBS Group Issues Positive Forecast for Ares Commercial Real Estate (NYSE:ACRE) Stock Price

by · The Markets Daily

Ares Commercial Real Estate (NYSE:ACRE – Free Report) had its price objective boosted by UBS Group from $4.50 to $5.00 in a report published on Friday morning,Benzinga reports. The firm currently has a neutral rating on the real estate investment trust’s stock.

ACRE has been the subject of a number of other research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ares Commercial Real Estate in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods raised their target price on shares of Ares Commercial Real Estate from $4.50 to $4.75 and gave the company a “market perform” rating in a research note on Tuesday. Wall Street Zen lowered Ares Commercial Real Estate from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 9th. Finally, Zacks Research upgraded Ares Commercial Real Estate to a “hold” rating in a research note on Monday, August 11th. Five equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $5.08.

View Our Latest Analysis on Ares Commercial Real Estate

Ares Commercial Real Estate Trading Up 1.3%

ACRE traded up $0.07 during trading hours on Friday, hitting $4.94. The company’s stock had a trading volume of 526,364 shares, compared to its average volume of 519,955. Ares Commercial Real Estate has a fifty-two week low of $3.35 and a fifty-two week high of $7.49. The firm has a market capitalization of $271.55 million, a PE ratio of -14.51 and a beta of 1.34. The company has a 50-day simple moving average of $4.67 and a 200 day simple moving average of $4.66.

Ares Commercial Real Estate (NYSE:ACRE – Get Free Report) last announced its earnings results on Friday, November 7th. The real estate investment trust reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.17. The business had revenue of $5.63 million during the quarter, compared to analysts’ expectations of $11.35 million. Ares Commercial Real Estate had a negative return on equity of 5.44% and a negative net margin of 29.57%. Research analysts expect that Ares Commercial Real Estate will post -0.34 earnings per share for the current fiscal year.

Ares Commercial Real Estate Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 12.2%. The ex-dividend date is Wednesday, December 31st. Ares Commercial Real Estate’s dividend payout ratio is presently -400.00%.

Institutional Investors Weigh In On Ares Commercial Real Estate

Institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. boosted its holdings in Ares Commercial Real Estate by 2.7% during the first quarter. Victory Capital Management Inc. now owns 124,250 shares of the real estate investment trust’s stock worth $575,000 after buying an additional 3,250 shares during the last quarter. Private Advisor Group LLC increased its position in shares of Ares Commercial Real Estate by 9.0% in the 3rd quarter. Private Advisor Group LLC now owns 41,019 shares of the real estate investment trust’s stock valued at $185,000 after buying an additional 3,371 shares in the last quarter. CWM LLC lifted its holdings in shares of Ares Commercial Real Estate by 94.3% during the 2nd quarter. CWM LLC now owns 6,997 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 3,396 shares in the last quarter. Voya Investment Management LLC increased its position in shares of Ares Commercial Real Estate by 21.8% during the first quarter. Voya Investment Management LLC now owns 24,105 shares of the real estate investment trust’s stock worth $112,000 after acquiring an additional 4,309 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Ares Commercial Real Estate by 456.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,033 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 4,948 shares in the last quarter. Institutional investors and hedge funds own 41.34% of the company’s stock.

Ares Commercial Real Estate Company Profile

(Get Free Report)

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.

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