Brokerages Set Ares Commercial Real Estate Corporation (NYSE:ACRE) Price Target at $5.50

Shares of Ares Commercial Real Estate Corporation (NYSE:ACRE) have been assigned a consensus recommendation of “Reduce” from the six ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $5.50.

Several brokerages have issued reports on ACRE. Keefe, Bruyette & Woods reduced their price target on shares of Ares Commercial Real Estate from $5.50 to $4.50 and set a “market perform” rating on the stock in a report on Monday, April 7th. JMP Securities reaffirmed a “market perform” rating on shares of Ares Commercial Real Estate in a report on Monday, April 21st. Finally, UBS Group upped their price target on shares of Ares Commercial Real Estate from $3.75 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, May 21st.

Ares Commercial Real Estate Trading Up 1.1%

ACRE stock opened at $4.75 on Friday. The company has a market cap of $261.30 million, a P/E ratio of -19.00, a P/E/G ratio of 3.78 and a beta of 1.31. Ares Commercial Real Estate has a 52 week low of $3.35 and a 52 week high of $7.99. The company’s 50-day moving average price is $4.74 and its 200 day moving average price is $4.92.

Ares Commercial Real Estate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 12.63%. The ex-dividend date is Monday, June 30th. Ares Commercial Real Estate’s dividend payout ratio is presently -240.00%.

Hedge Funds Weigh In On Ares Commercial Real Estate

A number of institutional investors have recently modified their holdings of the company. Hotchkis & Wiley Capital Management LLC raised its position in shares of Ares Commercial Real Estate by 6.1% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 1,094,490 shares of the real estate investment trust’s stock valued at $5,067,000 after buying an additional 62,900 shares during the last quarter. Cura Wealth Advisors LLC raised its position in shares of Ares Commercial Real Estate by 32.1% in the first quarter. Cura Wealth Advisors LLC now owns 963,485 shares of the real estate investment trust’s stock valued at $4,461,000 after buying an additional 234,258 shares during the last quarter. Northern Trust Corp raised its position in shares of Ares Commercial Real Estate by 32.3% in the fourth quarter. Northern Trust Corp now owns 605,491 shares of the real estate investment trust’s stock valued at $3,566,000 after buying an additional 147,990 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Ares Commercial Real Estate by 31.5% in the fourth quarter. JPMorgan Chase & Co. now owns 545,967 shares of the real estate investment trust’s stock valued at $3,216,000 after buying an additional 130,635 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Ares Commercial Real Estate by 15.3% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 419,940 shares of the real estate investment trust’s stock valued at $1,944,000 after buying an additional 55,667 shares during the last quarter. Institutional investors and hedge funds 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.