Ares Commercial Real Estate Co. (ACRE) To Go Ex-Dividend on September 30th

Ares Commercial Real Estate Co. (NYSE:ACRE) announced a quarterly dividend on Tuesday, August 6th, Zacks reports. Shareholders of record on Monday, September 30th will be given a dividend of 0.25 per share by the real estate investment trust on Tuesday, October 15th. This represents a $1.00 annualized dividend and a yield of 13.67%. The ex-dividend date is Monday, September 30th.

Ares Commercial Real Estate has a payout ratio of 156.3% 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 ($0.32) 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 -312.5%.

Ares Commercial Real Estate Price Performance

Shares of NYSE:ACRE opened at $7.32 on Friday. The company has a market cap of $398.72 million, a PE ratio of -8.81 and a beta of 1.45. Ares Commercial Real Estate has a fifty-two week low of $6.36 and a fifty-two week high of $11.24. The firm has a 50-day simple moving average of $7.20 and a 200 day simple moving average of $7.10. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.32.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ACRE shares. Wells Fargo & Company cut Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $7.50 to $7.00 in a research report on Friday, September 20th. StockNews.com lowered Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a report on Thursday, August 15th. Finally, BTIG Research restated a “neutral” rating on shares of Ares Commercial Real Estate in a research report on Friday, July 19th. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat.com, Ares Commercial Real Estate currently has a consensus rating of “Hold” and a consensus target price of $7.20.

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.