Shares of Ares Commercial Real Estate Co. (NYSE:ACRE - Get Free Report) have earned a consensus recommendation of "Reduce" from the six ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $5.81.
ACRE has been the topic of several research analyst reports. JMP Securities restated a "market perform" rating on shares of Ares Commercial Real Estate in a research report on Thursday, February 13th. Keefe, Bruyette & Woods reduced their target price on Ares Commercial Real Estate from $6.00 to $5.50 and set a "market perform" rating on the stock in a report on Thursday, February 13th. UBS Group reduced their target price on Ares Commercial Real Estate from $6.00 to $5.25 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. StockNews.com raised Ares Commercial Real Estate from a "sell" rating to a "hold" rating in a report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. reduced their target price on Ares Commercial Real Estate from $6.00 to $5.50 and set a "neutral" rating on the stock in a report on Thursday, February 13th.
View Our Latest Analysis on Ares Commercial Real Estate
Ares Commercial Real Estate Price Performance
Shares of Ares Commercial Real Estate stock traded up $0.07 during trading hours on Friday, hitting $4.77. The company's stock had a trading volume of 662,348 shares, compared to its average volume of 662,184. The business has a 50 day moving average price of $5.59 and a two-hundred day moving average price of $6.45. Ares Commercial Real Estate has a 12-month low of $4.63 and a 12-month high of $7.99. The company has a market cap of $261.39 million, a PE ratio of -7.33 and a beta of 1.50. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.87 and a current ratio of 0.87.
Ares Commercial Real Estate Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, March 31st. This represents a $0.60 annualized dividend and a yield of 12.59%. Ares Commercial Real Estate's payout ratio is currently -92.31%.
Insiders Place Their Bets
In other Ares Commercial Real Estate news, VP Anton Feingold sold 7,615 shares of the business's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $5.68, for a total transaction of $43,253.20. Following the completion of the transaction, the vice president now owns 78,360 shares in the company, valued at $445,084.80. The trade was a 8.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.80% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its holdings in shares of Ares Commercial Real Estate by 187.3% in the third 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 period. Millennium Management LLC boosted its holdings in shares of Ares Commercial Real Estate by 505.7% in the fourth quarter. Millennium Management LLC now owns 316,969 shares of the real estate investment trust's stock valued at $1,867,000 after purchasing an additional 264,641 shares during the period. Jane Street Group LLC boosted its holdings in shares of Ares Commercial Real Estate by 267.2% in the fourth quarter. Jane Street Group LLC now owns 263,571 shares of the real estate investment trust's stock valued at $1,552,000 after purchasing an additional 191,799 shares during the period. ExodusPoint Capital Management LP purchased a new stake in shares of Ares Commercial Real Estate in the fourth quarter valued at approximately $891,000. Finally, Northern Trust Corp boosted its holdings 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 purchasing an additional 147,990 shares during the period. Hedge funds and other institutional investors own 41.34% of the company's stock.
About Ares Commercial Real Estate
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Get Free ReportAres 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.
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