Ares Commercial Real Estate Co. (NYSE:ACRE) Receives Average Recommendation of “Hold” from Analysts
Ares Commercial Real Estate Co. (NYSE:ACRE – Get Free Report) has been given a consensus recommendation of “Hold” by the six research firms that are presently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $11.79.
Several brokerages have weighed in on ACRE. JMP Securities increased their price target on Ares Commercial Real Estate from $11.00 to $11.50 and gave the stock an “outperform” rating in a research report on Thursday, August 3rd. Raymond James lowered shares of Ares Commercial Real Estate from an “outperform” rating to a “market perform” rating in a research note on Friday, August 18th. They noted that the move was a valuation call. JPMorgan Chase & Co. raised their price target on shares of Ares Commercial Real Estate from $8.00 to $10.00 in a research note on Monday, July 24th. Finally, StockNews.com began coverage on shares of Ares Commercial Real Estate in a research note on Thursday, August 17th. They issued a “hold” rating on the stock.
Ares Commercial Real Estate Price Performance
Shares of ACRE opened at $10.07 on Tuesday. The business’s 50-day moving average is $10.32 and its two-hundred day moving average is $9.81. The company has a market capitalization of $545.19 million, a P/E ratio of -100.69 and a beta of 1.39. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.36 and a current ratio of 1.36. Ares Commercial Real Estate has a fifty-two week low of $7.52 and a fifty-two week high of $13.75.
Ares Commercial Real Estate Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 17th. Shareholders of record on Friday, September 29th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 13.11%. The ex-dividend date is Thursday, September 28th. Ares Commercial Real Estate’s dividend payout ratio (DPR) is -1,319.87%.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of ACRE. Raymond James Financial Services Advisors Inc. increased its holdings in Ares Commercial Real Estate by 26.2% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 95,717 shares of the real estate investment trust’s stock valued at $870,000 after purchasing an additional 19,847 shares during the last quarter. Clear Street Markets LLC acquired a new stake in Ares Commercial Real Estate in the 4th quarter valued at approximately $77,000. New York Life Investment Management LLC grew its stake in shares of Ares Commercial Real Estate by 12.4% in the fourth quarter. New York Life Investment Management LLC now owns 36,457 shares of the real estate investment trust’s stock worth $375,000 after acquiring an additional 4,027 shares in the last quarter. Claybrook Capital LLC grew its stake in shares of Ares Commercial Real Estate by 41.5% in the first quarter. Claybrook Capital LLC now owns 97,253 shares of the real estate investment trust’s stock worth $884,000 after acquiring an additional 28,505 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Ares Commercial Real Estate by 57.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,454,874 shares of the real estate investment trust’s stock worth $14,971,000 after acquiring an additional 530,062 shares in the last quarter. 38.37% of the stock is owned by hedge funds and other institutional investors.
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.
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