Ares Commercial Real Estate Co. (NYSE:ACRE) Given Consensus Recommendation of “Reduce” by Analysts

Ares Commercial Real Estate Co. (NYSE:ACRE) has been given an average recommendation of “Reduce” by the six ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $5.50.

Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods dropped their price target on shares of Ares Commercial Real Estate from $5.50 to $4.50 and set a “market perform” rating for the company in a research report on Monday, April 7th. JMP Securities restated a “market perform” rating on shares of Ares Commercial Real Estate in a report on Monday, April 21st. Finally, UBS Group increased their target price on Ares Commercial Real Estate from $3.75 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 21st.

Hedge Funds Weigh In On Ares Commercial Real Estate

Hedge funds have recently made changes to their positions in the business. Arlington Trust Co LLC acquired a new position in shares of Ares Commercial Real Estate during the first quarter worth about $28,000. Summit Securities Group LLC lifted its position in Ares Commercial Real Estate by 139.7% during the 4th quarter. Summit Securities Group LLC now owns 6,700 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 3,905 shares in the last quarter. McIlrath & Eck LLC acquired a new position in Ares Commercial Real Estate during the 4th quarter worth approximately $54,000. Strs Ohio purchased a new position in Ares Commercial Real Estate in the 1st quarter worth approximately $47,000. Finally, Brown Brothers Harriman & Co. purchased a new position in Ares Commercial Real Estate in the 4th quarter worth approximately $69,000. Hedge funds and other institutional investors own 41.34% of the company’s stock.

Ares Commercial Real Estate Trading Down 2.9%

Shares of ACRE stock opened at $4.93 on Monday. The firm’s 50-day simple moving average is $4.35 and its 200-day simple moving average is $5.17. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.87 and a quick ratio of 0.87. Ares Commercial Real Estate has a 1-year low of $3.35 and a 1-year high of $7.99. The firm has a market cap of $270.90 million, a P/E ratio of -7.58 and a beta of 1.32.

Ares Commercial Real Estate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, June 30th. This represents a $0.60 annualized dividend and a yield of 12.18%. Ares Commercial Real Estate’s dividend payout ratio is currently -240.00%.

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.