Brokerages Set Ares Commercial Real Estate Co. (NYSE:ACRE) Price Target at $7.10

Ares Commercial Real Estate Co. (NYSE:ACRE) has earned an average recommendation of “Reduce” from the seven research firms that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $7.10.

ACRE has been the subject of a number of research reports. StockNews.com upgraded shares of Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a report on Tuesday, December 17th. JMP Securities reaffirmed a “market perform” rating on shares of Ares Commercial Real Estate in a research note on Monday, December 9th. Wells Fargo & Company cut shares of Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $7.50 to $7.00 in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of 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.

Ares Commercial Real Estate Trading Down 4.6 %

Shares of ACRE stock opened at $5.45 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.38. The stock has a 50-day simple moving average of $6.67 and a 200 day simple moving average of $6.89. Ares Commercial Real Estate has a fifty-two week low of $5.35 and a fifty-two week high of $10.53. The stock has a market capitalization of $297.25 million, a P/E ratio of -4.62 and a beta of 1.51.

Ares Commercial Real Estate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 18.35%. Ares Commercial Real Estate’s dividend payout ratio (DPR) is presently -84.75%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC boosted its stake in Ares Commercial Real Estate by 211.0% in the third 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 in the last quarter. XTX Topco Ltd bought a new position in shares of Ares Commercial Real Estate in the second quarter worth about $82,000. BNP Paribas Financial Markets lifted its position 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 in the last quarter. Quest Partners LLC increased its holdings in shares of Ares Commercial Real Estate by 1,329,500.0% in the second quarter. Quest Partners LLC now owns 13,296 shares of the real estate investment trust’s stock valued at $88,000 after purchasing an additional 13,295 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in Ares Commercial Real Estate in the 3rd quarter valued at $96,000. 41.34% of the stock is owned by institutional investors and hedge funds.

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.