Ares Commercial Real Estate Co. (NYSE:ACRE) Receives Average Rating of "Reduce" from Brokerages

Ares Commercial Real Estate Co. (NYSE:ACRE - Get Free Report) has been given an average recommendation of "Reduce" by the six ratings firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $5.19.

ACRE has been the subject of several research analyst reports. Keefe, Bruyette & Woods reduced their target price on shares of Ares Commercial Real Estate from $5.50 to $4.50 and set a "market perform" rating for the company in a report on Monday, April 7th. JPMorgan Chase & Co. lowered their target price on Ares Commercial Real Estate from $6.00 to $5.50 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. UBS Group reduced their price target on Ares Commercial Real Estate from $5.25 to $3.75 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Finally, JMP Securities reissued a "market perform" rating on shares of Ares Commercial Real Estate in a report on Monday.

Insiders Place Their Bets

In related news, VP Anton Feingold sold 7,615 shares of Ares Commercial Real Estate stock in a transaction that occurred 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 sale, the vice president now directly owns 78,360 shares of the company's stock, valued at approximately $445,084.80. The trade was a 8.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.80% of the company's stock.

Institutional Trading of Ares Commercial Real Estate

A number of hedge funds and other institutional investors have recently modified their holdings of ACRE. Geode Capital Management LLC grew its position in Ares Commercial Real Estate by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,272,163 shares of the real estate investment trust's stock worth $8,907,000 after acquiring an additional 16,309 shares during the last quarter. State Street Corp grew its holdings in shares of Ares Commercial Real Estate by 2.3% during the third quarter. State Street Corp now owns 1,052,314 shares of the real estate investment trust's stock worth $7,627,000 after purchasing an additional 23,845 shares during the last quarter. Northern Trust Corp increased its stake 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 period. Van ECK Associates Corp raised its holdings in Ares Commercial Real Estate by 19.5% in the 4th quarter. Van ECK Associates Corp now owns 591,036 shares of the real estate investment trust's stock valued at $3,481,000 after buying an additional 96,551 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Ares Commercial Real Estate by 31.5% during the 4th quarter. JPMorgan Chase & Co. now owns 545,967 shares of the real estate investment trust's stock worth $3,216,000 after buying an additional 130,635 shares during the period. Institutional investors own 41.34% of the company's stock.

Ares Commercial Real Estate Stock Performance

NYSE:ACRE traded up $0.34 during mid-day trading on Friday, hitting $3.90. The stock had a trading volume of 745,127 shares, compared to its average volume of 564,803. Ares Commercial Real Estate has a twelve month low of $3.35 and a twelve month high of $7.99. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market cap of $214.11 million, a price-to-earnings ratio of -6.00 and a beta of 1.22. The company's 50 day simple moving average is $4.50 and its 200 day simple moving average is $5.75.

Ares Commercial Real Estate Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.60 annualized dividend and a yield of 15.37%. Ares Commercial Real Estate's dividend payout ratio is currently -92.31%.

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.