Ares Commercial Real Estate (NYSE:ACRE - Free Report) had its price target cut by Keefe, Bruyette & Woods from $7.00 to $6.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a market perform rating on the real estate investment trust's stock.
Other research analysts also recently issued reports about the company. JMP Securities reaffirmed a "market perform" rating on shares of Ares Commercial Real Estate in a report on Monday, December 9th. Wells Fargo & Company downgraded shares of 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. JPMorgan Chase & Co. dropped their price target on shares of Ares Commercial Real Estate from $7.00 to $6.50 and set a "neutral" rating on the stock in a research report on Thursday, October 17th. Finally, StockNews.com upgraded shares of Ares Commercial Real Estate from a "sell" rating to a "hold" rating in a research report on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat, Ares Commercial Real Estate currently has an average rating of "Hold" and a consensus price target of $6.90.
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Ares Commercial Real Estate Trading Up 3.9 %
ACRE traded up $0.21 during trading on Tuesday, reaching $5.64. 670,597 shares of the company's stock were exchanged, compared to its average volume of 596,737. The firm has a fifty day moving average price of $6.66 and a two-hundred day moving average price of $6.88. The stock has a market capitalization of $307.62 million, a PE ratio of -4.78 and a beta of 1.51. Ares Commercial Real Estate has a one year low of $5.33 and a one year high of $10.53. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.38.
Ares Commercial Real Estate Dividend Announcement
The business also recently declared 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 17.73%. The ex-dividend date of this dividend is Tuesday, December 31st. Ares Commercial Real Estate's payout ratio is -84.75%.
Hedge Funds Weigh In On Ares Commercial Real Estate
Institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in Ares Commercial Real Estate by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,272,163 shares of the real estate investment trust's stock worth $8,907,000 after buying an additional 16,309 shares during the last quarter. FMR LLC lifted its position 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 acquiring an additional 5,252 shares in the last quarter. State Street Corp lifted its position in Ares Commercial Real Estate by 2.3% in 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 acquiring an additional 23,845 shares in the last quarter. Barclays PLC boosted its stake 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 purchasing an additional 51,435 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in Ares Commercial Real Estate by 19.1% during the 3rd quarter. Jane Street Group LLC now owns 71,772 shares of the real estate investment trust's stock worth $502,000 after purchasing an additional 11,511 shares in the last quarter. Institutional investors and hedge funds own 41.34% of the company's stock.
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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