Ares Commercial Real Estate Corporation (ACRE) To Go Ex-Dividend on September 30th

Ares Commercial Real Estate Corporation (NYSE:ACRE) announced a quarterly dividend on Tuesday, August 4th. Stockholders of record on Wednesday, September 30th will be given a dividend of 0.15 per share by the real estate investment trust on Thursday, October 15th. This represents a c) annualized dividend and a dividend yield of 12.7%. The ex-dividend date of this dividend is Wednesday, September 30th.

Ares Commercial Real Estate has decreased its dividend payment by an average of 0.1%per year over the last three years. Ares Commercial Real Estate has a payout ratio of 260.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Ares Commercial Real Estate to earn $0.54 per share next year, which means the company may not be able to cover its $0.60 annual dividend with an expected future payout ratio of 111.1%.

Ares Commercial Real Estate Price Performance

NYSE ACRE opened at $4.71 on Thursday. The company has a fifty day moving average of $4.63 and a 200 day moving average of $4.89. The company has a market capitalization of $261.59 million, a PE ratio of -58.94 and a beta of 1.15. Ares Commercial Real Estate has a 1 year low of $4.08 and a 1 year high of $5.89.

Ares Commercial Real Estate (NYSE:ACRE) last announced its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.08. Ares Commercial Real Estate had a positive return on equity of 4.04% and a negative net margin of 8.04%.The company had revenue of $14.36 million during the quarter, compared to the consensus estimate of $10.96 million. Research analysts expect that Ares Commercial Real Estate will post 0.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Citizens Jmp reissued a “market perform” rating on shares of Ares Commercial Real Estate in a research note on Thursday, July 9th. JPMorgan Chase & Co. lowered their price target on Ares Commercial Real Estate from $5.50 to $5.00 and set a “neutral” rating on the stock in a research report on Friday, July 17th. Weiss Ratings upgraded Ares Commercial Real Estate from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday. UBS Group assumed coverage on Ares Commercial Real Estate in a research report on Tuesday, June 2nd. They set a “neutral” rating and a $5.50 target price on the stock. Finally, Zacks Research upgraded shares of Ares Commercial Real Estate from a “strong sell” rating to a “hold” rating in a research report on Friday, July 10th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $5.25.

About Ares Commercial Real Estate

Ares Commercial Real Estate Corporation (NYSE: ACRE) is a publicly traded real estate investment trust (REIT) primarily focused on commercial real estate debt investments. Externally managed by an affiliate of Ares Management Corporation, ACRE seeks to generate attractive risk-adjusted returns through its diversified portfolio of CRE financing strategies. The company specializes in originating, acquiring, financing and managing first mortgages, mezzanine loans, preferred equity and other structured finance products.

Since its inception, Ares Commercial Real Estate has targeted a broad range of property types, including multifamily, office, industrial, retail and hospitality assets.