Ares Commercial Real Estate Co. (NYSE:ACRE) Receives $7.20 Consensus Price Target from Analysts

Ares Commercial Real Estate Co. (NYSE:ACRE) has received an average rating 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 rating and five have assigned a hold rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $7.20.

A number of brokerages recently weighed in on ACRE. StockNews.com cut Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th. Wells Fargo & Company cut Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $7.50 to $7.00 in a research note on Friday, September 20th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of Ares Commercial Real Estate in a research note on Friday, July 19th.

Institutional Investors Weigh In On Ares Commercial Real Estate

Large investors have recently made changes to their positions in the company. Ameritas Advisory Services LLC acquired a new stake in Ares Commercial Real Estate in the 2nd quarter worth approximately $68,000. EntryPoint Capital LLC acquired a new stake in Ares Commercial Real Estate in the 1st quarter worth approximately $84,000. XTX Topco Ltd acquired a new stake in Ares Commercial Real Estate in the 2nd quarter worth approximately $82,000. Quest Partners LLC lifted its holdings in Ares Commercial Real Estate by 1,329,500.0% in the 2nd quarter. Quest Partners LLC now owns 13,296 shares of the real estate investment trust’s stock worth $88,000 after purchasing an additional 13,295 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Ares Commercial Real Estate during the first quarter worth approximately $108,000. Institutional investors own 41.34% of the company’s stock.

Ares Commercial Real Estate Trading Up 0.6 %

Shares of ACRE opened at $6.79 on Wednesday. The business’s 50-day moving average price is $7.12 and its 200 day moving average price is $7.07. The stock has a market capitalization of $370.10 million, a P/E ratio of -8.18 and a beta of 1.45. Ares Commercial Real Estate has a 1-year low of $6.36 and a 1-year high of $11.24. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.32.

Ares Commercial Real Estate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 14.73%. Ares Commercial Real Estate’s payout ratio is -120.48%.

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.