Brokerages Set Ares Commercial Real Estate Corporation (NYSE:ACRE) PT at $4.83

Shares of Ares Commercial Real Estate Corporation (NYSE:ACRE) have been given an average rating of “Reduce” by the six ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $4.8333.

A number of research firms have recently weighed in on ACRE. Keefe, Bruyette & Woods boosted their target price on Ares Commercial Real Estate from $4.25 to $4.50 and gave the stock a “market perform” rating in a research report on Thursday, October 9th. UBS Group lowered their price objective on Ares Commercial Real Estate from $5.00 to $4.50 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Weiss Ratings restated a “sell (d)” rating on shares of Ares Commercial Real Estate in a research report on Wednesday, October 8th. Zacks Research upgraded shares of Ares Commercial Real Estate to a “hold” rating in a research report on Monday, August 11th. Finally, Wall Street Zen downgraded shares of Ares Commercial Real Estate from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 9th.

Ares Commercial Real Estate Price Performance

Shares of Ares Commercial Real Estate stock opened at $4.49 on Friday. The firm has a 50 day simple moving average of $4.66 and a 200 day simple moving average of $4.53. Ares Commercial Real Estate has a fifty-two week low of $3.35 and a fifty-two week high of $7.49. The firm has a market cap of $246.72 million, a P/E ratio of -13.19 and a beta of 1.32.

Ares Commercial Real Estate Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 13.4%. The ex-dividend date was Tuesday, September 30th. Ares Commercial Real Estate’s dividend payout ratio (DPR) is currently -176.47%.

Institutional Investors Weigh In On Ares Commercial Real Estate

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Arlington Trust Co LLC acquired a new position in shares of Ares Commercial Real Estate during the 1st quarter worth about $28,000. CWM LLC boosted its stake in Ares Commercial Real Estate by 94.3% during the 2nd quarter. CWM LLC now owns 6,997 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 3,396 shares during the last quarter. Strs Ohio bought a new position in Ares Commercial Real Estate during the 1st quarter worth approximately $47,000. State of Wyoming acquired a new position in Ares Commercial Real Estate during the second quarter valued at approximately $59,000. Finally, Corient Private Wealth LLC bought a new stake in Ares Commercial Real Estate in the second quarter valued at approximately $66,000. 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.