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

Shares of Ares Commercial Real Estate Co. (NYSE:ACRE) have been assigned an average rating of “Reduce” from the seven research firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $7.10.

ACRE has been the topic of a number of recent research reports. Wells Fargo & Company lowered shares of Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $7.50 to $7.00 in a research note on Friday, September 20th. JMP Securities reaffirmed a “market perform” rating on shares of Ares Commercial Real Estate in a research report on Monday, December 9th. JPMorgan Chase & Co. decreased their price objective on Ares Commercial Real Estate from $7.00 to $6.50 and set a “neutral” rating for the company in a report on Thursday, October 17th. Finally, StockNews.com upgraded Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a report on Tuesday.

Institutional Trading of Ares Commercial Real Estate

A number of institutional investors and hedge funds have recently modified their holdings of the business. Prevail Innovative Wealth Advisors LLC purchased a new stake in Ares Commercial Real Estate during the second quarter worth about $894,000. Van ECK Associates Corp grew its position in shares of Ares Commercial Real Estate by 26.9% during the 2nd quarter. Van ECK Associates Corp now owns 524,694 shares of the real estate investment trust’s stock valued at $3,489,000 after acquiring an additional 111,194 shares during the period. Barclays PLC increased its stake in shares of Ares Commercial Real Estate by 279.8% during the 3rd 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. Centiva Capital LP bought a new stake in shares of Ares Commercial Real Estate in the 3rd quarter worth approximately $253,000. Finally, Penserra Capital Management LLC lifted its stake in Ares Commercial Real Estate by 23.0% in the third quarter. Penserra Capital Management LLC now owns 149,365 shares of the real estate investment trust’s stock valued at $1,045,000 after purchasing an additional 27,900 shares during the last quarter. 41.34% of the stock is owned by hedge funds and other institutional investors.

Ares Commercial Real Estate Price Performance

Shares of NYSE:ACRE opened at $6.39 on Monday. The stock’s 50 day moving average is $6.84 and its 200-day moving average is $7.01. Ares Commercial Real Estate has a twelve month low of $6.02 and a twelve month high of $11.24. 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 firm has a market capitalization of $348.52 million, a price-to-earnings ratio of -5.42 and a beta of 1.48.

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 paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 15.65%. Ares Commercial Real Estate’s payout ratio is presently -84.75%.

About Ares Commercial Real Estate

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.