Ares Commercial Real Estate Co. (NYSE:ACRE) Receives $7.10 Consensus Price Target from Brokerages

Shares of Ares Commercial Real Estate Co. (NYSE:ACRE - Get Free Report) have earned an average rating of "Reduce" from the seven brokerages that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $7.10.

A number of brokerages recently issued reports on ACRE. Wells Fargo & Company cut Ares Commercial Real Estate from an "equal weight" rating to an "underweight" rating and decreased their target price for the company from $7.50 to $7.00 in a research report on Friday, September 20th. StockNews.com raised shares of Ares Commercial Real Estate from a "sell" rating to a "hold" rating in a report on Tuesday, December 17th. JMP Securities reiterated a "market perform" rating on shares of Ares Commercial Real Estate in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. decreased their price target on Ares Commercial Real Estate from $7.00 to $6.50 and set a "neutral" rating for the company in a report on Thursday, October 17th.

Institutional Investors Weigh In On Ares Commercial Real Estate

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC increased its stake in Ares Commercial Real Estate by 211.0% in the 3rd quarter. FMR LLC now owns 7,741 shares of the real estate investment trust's stock valued at $54,000 after purchasing an additional 5,252 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Ares Commercial Real Estate in the second quarter valued at $82,000. BNP Paribas Financial Markets raised its stake in shares of Ares Commercial Real Estate by 17.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,733 shares of the real estate investment trust's stock worth $82,000 after buying an additional 1,711 shares during the last quarter. Quest Partners LLC boosted its position in shares of Ares Commercial Real Estate by 1,329,500.0% in the 2nd quarter. Quest Partners LLC now owns 13,296 shares of the real estate investment trust's stock worth $88,000 after buying an additional 13,295 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Ares Commercial Real Estate in the 3rd quarter valued at about $96,000. 41.34% of the stock is currently owned by institutional investors and hedge funds.

Ares Commercial Real Estate Stock Down 4.6 %

Shares of NYSE:ACRE traded down $0.26 during trading on Friday, hitting $5.45. 883,953 shares of the company were exchanged, compared to its average volume of 603,821. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.87 and a quick ratio of 0.87. The firm's 50 day moving average price is $6.69 and its 200-day moving average price is $6.90. The stock has a market capitalization of $297.25 million, a P/E ratio of -4.62 and a beta of 1.51. Ares Commercial Real Estate has a 12-month low of $5.35 and a 12-month high of $10.53.

Ares Commercial Real Estate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 18.35%. The ex-dividend date of this dividend is Tuesday, December 31st. Ares Commercial Real Estate's dividend payout ratio (DPR) is currently -84.75%.

Ares Commercial Real Estate Company Profile

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.