Ares Commercial Real Estate Co. (NYSE:ACRE) Receives Consensus Rating of “Reduce” from Brokerages

Shares of Ares Commercial Real Estate Co. (NYSE:ACRE) have earned a consensus rating of “Reduce” from the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $7.10.

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Ares Commercial Real Estate from $7.00 to $6.50 and set a “neutral” rating for the company in a research report on Thursday, October 17th. Wells Fargo & Company cut shares of Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $7.50 to $7.00 in a research report on Friday, September 20th. Finally, JMP Securities reissued a “market perform” rating on shares of Ares Commercial Real Estate in a research report on Monday, December 9th.

Hedge Funds Weigh In On Ares Commercial Real Estate

Several large investors have recently modified their holdings of the stock. Barclays PLC lifted its position in shares of Ares Commercial Real Estate by 279.8% during the third quarter. Barclays PLC now owns 69,821 shares of the real estate investment trust’s stock worth $489,000 after purchasing an additional 51,435 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Ares Commercial Real Estate by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,272,163 shares of the real estate investment trust’s stock worth $8,907,000 after acquiring an additional 16,309 shares during the last quarter. Jane Street Group LLC lifted its holdings in Ares Commercial Real Estate by 19.1% in the third quarter. Jane Street Group LLC now owns 71,772 shares of the real estate investment trust’s stock worth $502,000 after acquiring an additional 11,511 shares during the last quarter. State Street Corp lifted its holdings in Ares Commercial Real Estate by 2.3% in the third quarter. State Street Corp now owns 1,052,314 shares of the real estate investment trust’s stock worth $7,627,000 after acquiring an additional 23,845 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in Ares Commercial Real Estate by 1.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 861,390 shares of the real estate investment trust’s stock worth $6,030,000 after acquiring an additional 8,900 shares during the last quarter. Institutional investors own 41.34% of the company’s stock.

Ares Commercial Real Estate Price Performance

Shares of ACRE stock opened at $7.19 on Monday. Ares Commercial Real Estate has a twelve month low of $6.25 and a twelve month high of $11.24. The company has a market capitalization of $392.16 million, a PE ratio of -6.09 and a beta of 1.48. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.38. The firm has a fifty day simple moving average of $6.85 and a 200-day simple moving average of $7.03.

Ares Commercial Real Estate Dividend Announcement

The business also recently declared 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 13.91%. Ares Commercial Real Estate’s payout ratio is -84.75%.

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.