Ares Commercial Real Estate Co. (NYSE:ACRE – Get Rating)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $13.16 and last traded at $13.16, with a volume of 3454 shares. The stock had previously closed at $13.74.
Several research analysts recently issued reports on the stock. JMP Securities reissued a “buy” rating and set a $16.50 target price on shares of Ares Commercial Real Estate in a report on Tuesday, May 24th. JPMorgan Chase & Co. boosted their price target on shares of Ares Commercial Real Estate from $14.50 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, April 25th. Finally, StockNews.com assumed coverage on shares of Ares Commercial Real Estate in a research report on Thursday, March 31st. They set a “hold” rating on the stock.
The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 2.57. The company has a market capitalization of $607.21 million, a price-to-earnings ratio of 10.25 and a beta of 1.20. The firm’s fifty day simple moving average is $15.13 and its two-hundred day simple moving average is $14.86.
Ares Commercial Real Estate (NYSE:ACRE – Get Rating) last released its quarterly earnings results on Tuesday, May 3rd. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Ares Commercial Real Estate had a net margin of 58.09% and a return on equity of 9.74%. During the same quarter in the previous year, the company earned $0.38 earnings per share. As a group, analysts forecast that Ares Commercial Real Estate Co. will post 1.38 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 10.94%. This is an increase from Ares Commercial Real Estate’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Wednesday, June 29th. Ares Commercial Real Estate’s payout ratio is 98.51%.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Samalin Investment Counsel LLC purchased a new stake in Ares Commercial Real Estate during the 1st quarter worth approximately $50,000. Selective Wealth Management Inc. purchased a new stake in Ares Commercial Real Estate during the 1st quarter worth approximately $53,000. Penserra Capital Management LLC purchased a new stake in shares of Ares Commercial Real Estate in the 3rd quarter valued at approximately $81,000. Worth Asset Management LLC purchased a new stake in shares of Ares Commercial Real Estate in the 1st quarter valued at approximately $97,000. Finally, LPL Financial LLC purchased a new stake in shares of Ares Commercial Real Estate in the 4th quarter valued at approximately $154,000. 46.66% of the stock is currently owned by hedge funds and other institutional investors.
About Ares Commercial Real Estate (NYSE:ACRE)
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. The company provides a range of financing solutions for the owners, operators, and sponsors of CRE properties. It originates senior mortgage loans, subordinate debt products, mezzanine loans, real estate preferred equity investments, and other CRE investments, including commercial mortgage backed securities.
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