Ares Commercial Real Estate Co. (NYSE:ACRE) Receives $7.10 Average Price Target from Brokerages

Ares Commercial Real Estate Co. (NYSE:ACRE) has been given a consensus rating of “Reduce” by the seven research firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $7.10.

Several analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on Ares Commercial Real Estate from $7.00 to $6.50 and set a “neutral” rating on the stock in a research note on Thursday, October 17th. Wells Fargo & Company lowered shares of Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $7.50 to $7.00 in a research report on Friday, September 20th. Finally, StockNews.com downgraded Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th.

Ares Commercial Real Estate Price Performance

Shares of NYSE:ACRE opened at $7.29 on Thursday. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.87 and a quick ratio of 0.87. The firm’s 50 day simple moving average is $6.87 and its two-hundred day simple moving average is $6.99. The company has a market capitalization of $397.61 million, a P/E ratio of -6.18 and a beta of 1.46. Ares Commercial Real Estate has a 1-year low of $6.25 and a 1-year high of $11.24.

Ares Commercial Real Estate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 13.72%. Ares Commercial Real Estate’s dividend payout ratio (DPR) is -84.75%.

Institutional Investors Weigh In On Ares Commercial Real Estate

Several large investors have recently added to or reduced their stakes in ACRE. FMR LLC lifted its position in shares of Ares Commercial Real Estate by 211.0% in the 3rd quarter. FMR LLC now owns 7,741 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 5,252 shares during the period. Ameritas Advisory Services LLC purchased a new stake in shares of Ares Commercial Real Estate during the second quarter valued at $68,000. XTX Topco Ltd acquired a new position in shares of Ares Commercial Real Estate in the second quarter valued at about $82,000. BNP Paribas Financial Markets lifted its holdings in shares of Ares Commercial Real Estate by 17.1% during the third quarter. BNP Paribas Financial Markets now owns 11,733 shares of the real estate investment trust’s stock worth $82,000 after purchasing an additional 1,711 shares during the period. Finally, EntryPoint Capital LLC acquired a new stake in Ares Commercial Real Estate during the 1st quarter valued at approximately $84,000. 41.34% 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.