JMP Securities reaffirmed their market perform rating on shares of Ares Commercial Real Estate (NYSE:ACRE - Free Report) in a research note published on Thursday,Benzinga reports.
Other equities research analysts also recently issued research reports about the company. StockNews.com upgraded Ares Commercial Real Estate from a "sell" rating to a "hold" rating in a research report on Tuesday, December 17th. JPMorgan Chase & Co. decreased their price target on Ares Commercial Real Estate from $7.00 to $6.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 21st. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Ares Commercial Real Estate from $7.00 to $6.00 and set a "market perform" rating for the company in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $6.60.
Get Our Latest Stock Report on ACRE
Ares Commercial Real Estate Price Performance
Shares of NYSE:ACRE traded down $0.03 on Thursday, hitting $5.06. The company's stock had a trading volume of 955,782 shares, compared to its average volume of 465,078. The company has a 50-day simple moving average of $6.02 and a 200 day simple moving average of $6.62. The company has a market capitalization of $275.70 million, a PE ratio of -4.28 and a beta of 1.50. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.87 and a quick ratio of 0.87. Ares Commercial Real Estate has a 1 year low of $5.01 and a 1 year high of $8.59.
Ares Commercial Real Estate Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 11.87%. The ex-dividend date is Monday, March 31st. Ares Commercial Real Estate's dividend payout ratio is currently -84.75%.
Insiders Place Their Bets
In other Ares Commercial Real Estate news, VP Anton Feingold sold 7,615 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $5.68, for a total value of $43,253.20. Following the completion of the transaction, the vice president now owns 78,360 shares in the company, valued at approximately $445,084.80. This represents a 8.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.80% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. increased its stake in shares of Ares Commercial Real Estate by 187.3% during 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 in the last quarter. Geode Capital Management LLC increased 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 valued at $8,907,000 after buying an additional 16,309 shares in the last quarter. FMR LLC increased its position in Ares Commercial Real Estate by 211.0% during the 3rd quarter. FMR LLC now owns 7,741 shares of the real estate investment trust's stock valued at $54,000 after buying an additional 5,252 shares in the last quarter. State Street Corp increased its position in Ares Commercial Real Estate by 2.3% during the 3rd quarter. State Street Corp now owns 1,052,314 shares of the real estate investment trust's stock valued at $7,627,000 after buying an additional 23,845 shares in the last quarter. Finally, Barclays PLC increased its position in Ares Commercial Real Estate by 279.8% during the 3rd quarter. Barclays PLC now owns 69,821 shares of the real estate investment trust's stock valued at $489,000 after buying an additional 51,435 shares in the last quarter. 41.34% of the stock is currently owned by institutional investors.
Ares Commercial Real Estate Company Profile
(
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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.
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