Ares Commercial Real Estate Co. (NYSE:ACRE – Get Free Report) has been assigned a consensus recommendation of “Reduce” from the seven research firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $6.05.
Several analysts have weighed in on ACRE shares. JPMorgan Chase & Co. cut their price objective on Ares Commercial Real Estate from $6.00 to $5.50 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. StockNews.com raised Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research note on Tuesday, December 17th. Keefe, Bruyette & Woods lowered their price objective on Ares Commercial Real Estate from $6.00 to $5.50 and set a “market perform” rating for the company in a research report on Thursday, February 13th. JMP Securities reaffirmed a “market perform” rating on shares of Ares Commercial Real Estate in a research report on Thursday, February 13th. Finally, UBS Group decreased their price target on shares of Ares Commercial Real Estate from $6.00 to $5.25 and set a “neutral” rating for the company in a research note on Tuesday, February 25th.
Get Our Latest Analysis on Ares Commercial Real Estate
Ares Commercial Real Estate Trading Down 3.9 %
NYSE:ACRE opened at $4.70 on Friday. The company has a 50-day moving average price of $5.62 and a 200-day moving average price of $6.46. The stock has a market cap of $257.83 million, a price-to-earnings ratio of -7.23 and a beta of 1.50. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.17. Ares Commercial Real Estate has a 12 month low of $4.63 and a 12 month high of $7.99.
Ares Commercial Real Estate Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 12.77%. The ex-dividend date of this dividend is Monday, March 31st. Ares Commercial Real Estate’s payout ratio is -92.31%.
Insider Activity at Ares Commercial Real Estate
In other Ares Commercial Real Estate news, VP Anton Feingold sold 7,615 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $5.68, for a total transaction of $43,253.20. Following the completion of the sale, the vice president now directly owns 78,360 shares in the company, valued at approximately $445,084.80. The trade was a 8.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.80% of the stock is owned by insiders.
Institutional Trading of Ares Commercial Real Estate
Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in shares of Ares Commercial Real Estate by 187.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 415,332 shares of the real estate investment trust’s stock valued at $2,907,000 after purchasing an additional 270,791 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Ares Commercial Real Estate by 505.7% during the 4th quarter. Millennium Management LLC now owns 316,969 shares of the real estate investment trust’s stock worth $1,867,000 after acquiring an additional 264,641 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of Ares Commercial Real Estate by 267.2% during the 4th quarter. Jane Street Group LLC now owns 263,571 shares of the real estate investment trust’s stock worth $1,552,000 after acquiring an additional 191,799 shares during the last quarter. ExodusPoint Capital Management LP bought a new stake in shares of Ares Commercial Real Estate during the 4th quarter valued at $891,000. Finally, Northern Trust Corp increased its stake in shares of Ares Commercial Real Estate by 32.3% in the 4th quarter. Northern Trust Corp now owns 605,491 shares of the real estate investment trust’s stock worth $3,566,000 after purchasing an additional 147,990 shares in the last quarter. Hedge funds and other 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.
Read More
Receive News & Ratings for Ares Commercial Real Estate Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Ares Commercial Real Estate and related companies with MarketBeat.com’s FREE daily email newsletter.