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 given an average recommendation of “Reduce” by the seven research firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $7.10.

A number of equities research analysts have commented on the company. Wells Fargo & Company cut Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $7.50 to $7.00 in a research note on Friday, September 20th. JPMorgan Chase & Co. decreased their price target on Ares Commercial Real Estate from $7.00 to $6.50 and set a “neutral” rating for the company in a research note on Thursday, October 17th. BTIG Research reiterated a “neutral” rating on shares of Ares Commercial Real Estate in a research note on Friday, July 19th. Finally, StockNews.com cut Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th.

Institutional Trading of Ares Commercial Real Estate

Several hedge funds and other institutional investors have recently bought and sold shares of ACRE. Prevail Innovative Wealth Advisors LLC acquired a new stake in Ares Commercial Real Estate during the second quarter worth about $894,000. Van ECK Associates Corp grew its holdings in Ares Commercial Real Estate by 26.9% in the second quarter. Van ECK Associates Corp now owns 524,694 shares of the real estate investment trust’s stock valued at $3,489,000 after purchasing an additional 111,194 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its holdings in Ares Commercial Real Estate by 67.8% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 257,235 shares of the real estate investment trust’s stock valued at $1,916,000 after purchasing an additional 103,902 shares during the period. Bright Futures Wealth Management LLC. acquired a new stake in Ares Commercial Real Estate in the first quarter valued at approximately $630,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Ares Commercial Real Estate by 11.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 790,404 shares of the real estate investment trust’s stock valued at $5,889,000 after purchasing an additional 81,534 shares during the period. 41.34% of the stock is owned by institutional investors and hedge funds.

Ares Commercial Real Estate Trading Down 2.1 %

Shares of NYSE ACRE opened at $6.45 on Friday. The business has a fifty day moving average price of $6.97 and a 200 day moving average price of $6.98. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.87 and a quick ratio of 0.87. Ares Commercial Real Estate has a 1-year low of $6.36 and a 1-year high of $11.24. The stock has a market capitalization of $351.57 million, a P/E ratio of -7.77 and a beta of 1.45.

Ares Commercial Real Estate Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 15.50%. The ex-dividend date was 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.