Analysts Expect Ares Commercial Real Estate Corporation (ACRE) to Announce $0.27 EPS

Brokerages expect Ares Commercial Real Estate Corporation (NYSE:ACRE) to post earnings per share (EPS) of $0.27 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Ares Commercial Real Estate Corporation’s earnings. The lowest EPS estimate is $0.27 and the highest is $0.28. Ares Commercial Real Estate Corporation reported earnings per share of $0.31 during the same quarter last year, which indicates a negative year over year growth rate of 12.9%. The firm is scheduled to announce its next earnings results on Thursday, November 2nd.

On average, analysts expect that Ares Commercial Real Estate Corporation will report full-year earnings of $1.04 per share for the current fiscal year, with EPS estimates ranging from $1.03 to $1.05. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.22 per share, with EPS estimates ranging from $1.20 to $1.26. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow Ares Commercial Real Estate Corporation.

Ares Commercial Real Estate Corporation (NYSE:ACRE) last released its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. The firm had revenue of $10.40 million for the quarter, compared to analyst estimates of $10.85 million. Ares Commercial Real Estate Corporation had a net margin of 45.06% and a return on equity of 7.07%. Ares Commercial Real Estate Corporation’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.31 earnings per share.

Several equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods reissued a “hold” rating and set a $13.75 price target on shares of Ares Commercial Real Estate Corporation in a report on Friday, June 9th. Credit Suisse Group reissued a “hold” rating on shares of Ares Commercial Real Estate Corporation in a report on Friday, August 4th. Zacks Investment Research raised shares of Ares Commercial Real Estate Corporation from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Wednesday, July 26th. JMP Securities lifted their price target on shares of Ares Commercial Real Estate Corporation to $14.00 and gave the company a “market outperform” rating in a report on Monday, August 7th. Finally, BidaskClub downgraded shares of Ares Commercial Real Estate Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Ares Commercial Real Estate Corporation has an average rating of “Hold” and a consensus price target of $14.45.

Shares of Ares Commercial Real Estate Corporation (ACRE) opened at 13.13 on Wednesday. The firm has a market cap of $374.95 million, a price-to-earnings ratio of 9.43 and a beta of 0.68. Ares Commercial Real Estate Corporation has a 1-year low of $12.13 and a 1-year high of $14.39. The company’s 50-day moving average is $13.12 and its 200 day moving average is $13.26.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 8.23%. The ex-dividend date of this dividend is Thursday, September 28th. Ares Commercial Real Estate Corporation’s dividend payout ratio is currently 77.14%.

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A number of hedge funds have recently made changes to their positions in the stock. Nomura Holdings Inc. lifted its holdings in Ares Commercial Real Estate Corporation by 2.3% during the 2nd quarter. Nomura Holdings Inc. now owns 437,401 shares of the real estate investment trust’s stock valued at $5,732,000 after purchasing an additional 9,803 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Ares Commercial Real Estate Corporation by 10.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,473 shares of the real estate investment trust’s stock valued at $333,000 after purchasing an additional 2,491 shares during the last quarter. Ares Management LLC raised its stake in shares of Ares Commercial Real Estate Corporation by 3.6% in the second quarter. Ares Management LLC now owns 29,386 shares of the real estate investment trust’s stock worth $384,000 after acquiring an additional 1,008 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Ares Commercial Real Estate Corporation by 3.1% in the second quarter. Royal Bank of Canada now owns 46,452 shares of the real estate investment trust’s stock worth $609,000 after acquiring an additional 1,417 shares during the last quarter. Finally, HighTower Advisors LLC bought a new position in shares of Ares Commercial Real Estate Corporation in the second quarter worth about $448,000. 65.15% of the stock is owned by hedge funds and other institutional investors.

Ares Commercial Real Estate Corporation Company Profile

Ares Commercial Real Estate Corporation is a specialty finance company. The Company is primarily engaged in originating and investing in commercial real estate (CRE) loans and related investments. The Company operates through principal lending segment. Its target investments include senior mortgage loans, subordinated debt, preferred equity, mezzanine loans and other CRE investment opportunities, including commercial mortgage-backed securities.

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