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

Shares of Ares Commercial Real Estate Co. (NYSE:ACRE) have been given a consensus recommendation of “Reduce” by the seven analysts that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $7.20.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. MGO One Seven LLC boosted its holdings in Ares Commercial Real Estate by 2,609.3% in the 4th quarter. MGO One Seven LLC now owns 570,331 shares of the real estate investment trust’s stock worth $5,909,000 after buying an additional 549,280 shares during the last quarter. Prevail Innovative Wealth Advisors LLC acquired a new stake in Ares Commercial Real Estate during the 2nd quarter worth $894,000. Van ECK Associates Corp grew its holdings in shares of Ares Commercial Real Estate by 26.9% during the second quarter. Van ECK Associates Corp now owns 524,694 shares of the real estate investment trust’s stock worth $3,489,000 after buying an additional 111,194 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Ares Commercial Real Estate by 67.8% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 257,235 shares of the real estate investment trust’s stock worth $1,916,000 after buying an additional 103,902 shares in the last quarter. Finally, Bright Futures Wealth Management LLC. acquired a new stake in shares of Ares Commercial Real Estate in the first quarter valued at about $630,000. 41.34% of the stock is owned by institutional investors and hedge funds.

Ares Commercial Real Estate Price Performance

Shares of Ares Commercial Real Estate stock opened at $6.80 on Wednesday. The company’s fifty day simple moving average is $7.17 and its two-hundred day simple moving average is $7.08. Ares Commercial Real Estate has a 12-month low of $6.36 and a 12-month high of $11.24. The firm has a market cap of $370.65 million, a PE ratio of -8.19 and a beta of 1.45. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.32.

Ares Commercial Real Estate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 14.71%. The ex-dividend date of this dividend is Monday, September 30th. Ares Commercial Real Estate’s payout ratio is -120.48%.

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.