Ares Commercial Real Estate (NYSE:ACRE) Receives Market Perform Rating from JMP Securities

JMP Securities reiterated their market perform rating on shares of Ares Commercial Real Estate (NYSE:ACRE) in a report issued on Monday,Benzinga reports.

A number of other research firms have also issued reports on ACRE. JPMorgan Chase & Co. lowered their price target on Ares Commercial Real Estate from $7.00 to $6.50 and set a “neutral” rating on the stock in a report on Thursday, October 17th. Wells Fargo & Company lowered Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $7.50 to $7.00 in a report on Friday, September 20th. Finally, StockNews.com lowered Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a report on Thursday, August 15th. Three analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $7.10.

Ares Commercial Real Estate Stock Up 0.6 %

Ares Commercial Real Estate stock opened at $7.11 on Monday. Ares Commercial Real Estate has a 1-year low of $6.25 and a 1-year high of $11.24. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market cap of $387.51 million, a PE ratio of -6.02 and a beta of 1.48. The stock’s fifty day moving average is $6.82 and its two-hundred day moving average is $7.01.

Ares Commercial Real Estate Dividend Announcement

The business 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 is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.07%. Ares Commercial Real Estate’s dividend payout ratio (DPR) is presently -84.75%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ACRE. Vanguard Group Inc. boosted its holdings in Ares Commercial Real Estate by 1.3% during the first quarter. Vanguard Group Inc. now owns 2,783,379 shares of the real estate investment trust’s stock worth $20,736,000 after buying an additional 34,611 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Ares Commercial Real Estate by 4.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 51,234 shares of the real estate investment trust’s stock worth $382,000 after buying an additional 1,949 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Ares Commercial Real Estate by 10.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 206,143 shares of the real estate investment trust’s stock worth $1,371,000 after buying an additional 19,626 shares in the last quarter. Access Investment Management LLC lifted its position in Ares Commercial Real Estate by 15.5% in the 2nd quarter. Access Investment Management LLC now owns 85,700 shares of the real estate investment trust’s stock worth $570,000 after buying an additional 11,500 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in Ares Commercial Real Estate in the 2nd quarter worth approximately $68,000. Institutional investors own 41.34% of the company’s stock.

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.