Ares Commercial Real Estate (NYSE:ACRE - Free Report) had its target price trimmed by UBS Group from $6.00 to $5.25 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust's stock.
Other equities research analysts have also issued reports about the stock. Keefe, Bruyette & Woods reduced their target price on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a "market perform" rating for the company in a report on Thursday, February 13th. StockNews.com raised shares of Ares Commercial Real Estate from a "sell" rating to a "hold" rating in a report on Tuesday, December 17th. JPMorgan Chase & Co. reduced their target price on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a "neutral" rating for the company in a report on Thursday, February 13th. Finally, JMP Securities reissued a "market perform" rating on shares of Ares Commercial Real Estate in a report on Thursday, February 13th. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $6.05.
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Ares Commercial Real Estate Stock Performance
Shares of NYSE ACRE traded up $0.10 during midday trading on Tuesday, hitting $4.89. 674,093 shares of the company's stock traded hands, compared to its average volume of 656,266. The firm has a fifty day moving average of $5.65 and a 200 day moving average of $6.48. The stock has a market capitalization of $268.25 million, a price-to-earnings ratio of -7.52 and a beta of 1.50. Ares Commercial Real Estate has a 1 year low of $4.75 and a 1 year 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.
Ares Commercial Real Estate Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.15 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.60 annualized dividend and a yield of 12.27%. Ares Commercial Real Estate's payout ratio is -92.31%.
Insiders Place Their Bets
In other news, VP Anton Feingold sold 7,615 shares of the 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 directly owns 78,360 shares in the company, valued at approximately $445,084.80. This represents a 8.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.80% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of ACRE. Nisa Investment Advisors LLC boosted its position in shares of Ares Commercial Real Estate by 57.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 31,267 shares of the real estate investment trust's stock valued at $227,000 after acquiring an additional 11,388 shares during the last quarter. Victory Capital Management Inc. lifted its position in Ares Commercial Real Estate by 4.3% in the third quarter. Victory Capital Management Inc. now owns 88,093 shares of the real estate investment trust's stock worth $617,000 after buying an additional 3,593 shares during the last quarter. Intech Investment Management LLC bought a new stake in Ares Commercial Real Estate in the third quarter worth $96,000. Penserra Capital Management LLC lifted its position in Ares Commercial Real Estate by 23.0% in the third quarter. Penserra Capital Management LLC now owns 149,365 shares of the real estate investment trust's stock worth $1,045,000 after buying an additional 27,900 shares during the last quarter. Finally, FMR LLC increased its stake in Ares Commercial Real Estate by 211.0% in the third quarter. FMR LLC now owns 7,741 shares of the real estate investment trust's stock worth $54,000 after purchasing an additional 5,252 shares during the period. 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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