Shares of Ares Commercial Real Estate Corp (NYSE:ACRE) have earned an average rating of “Hold” from the ten ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $14.71.
A number of research firms have recently commented on ACRE. Credit Suisse Group lifted their target price on Ares Commercial Real Estate from $14.00 to $14.50 and gave the stock a “neutral” rating in a research report on Tuesday, August 21st. Zacks Investment Research upgraded Ares Commercial Real Estate from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Thursday. BTIG Research began coverage on Ares Commercial Real Estate in a research report on Monday, October 8th. They issued a “buy” rating and a $15.00 price target on the stock. JPMorgan Chase & Co. cut Ares Commercial Real Estate from an “overweight” rating to a “neutral” rating in a research report on Monday, July 23rd. Finally, Raymond James began coverage on Ares Commercial Real Estate in a research report on Monday, July 23rd. They issued an “outperform” rating on the stock.
Shares of ACRE traded up $0.11 during midday trading on Monday, reaching $14.46. 102,275 shares of the stock were exchanged, compared to its average volume of 110,910. Ares Commercial Real Estate has a twelve month low of $11.96 and a twelve month high of $14.77. The stock has a market capitalization of $415.27 million, a P/E ratio of 13.03 and a beta of 0.47.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Friday, December 28th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 8.58%. The ex-dividend date of this dividend is Thursday, December 27th. This is a boost from Ares Commercial Real Estate’s previous quarterly dividend of $0.29. Ares Commercial Real Estate’s payout ratio is 104.50%.
A number of hedge funds have recently modified their holdings of ACRE. Schwab Charles Investment Management Inc. increased its position in Ares Commercial Real Estate by 11.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 58,852 shares of the real estate investment trust’s stock valued at $727,000 after acquiring an additional 6,200 shares during the period. Allianz Asset Management GmbH increased its position in Ares Commercial Real Estate by 119.6% during the 1st quarter. Allianz Asset Management GmbH now owns 36,863 shares of the real estate investment trust’s stock worth $455,000 after purchasing an additional 20,079 shares during the period. A.R.T. Advisors LLC purchased a new stake in shares of Ares Commercial Real Estate during the 1st quarter worth approximately $248,000. Acadian Asset Management LLC boosted its stake in shares of Ares Commercial Real Estate by 194.6% during the 2nd quarter. Acadian Asset Management LLC now owns 450,087 shares of the real estate investment trust’s stock worth $6,217,000 after acquiring an additional 297,287 shares in the last quarter. Finally, Dupont Capital Management Corp purchased a new stake in shares of Ares Commercial Real Estate during the 2nd quarter worth approximately $688,000. Hedge funds and other institutional investors own 62.85% of the company’s stock.
About Ares Commercial Real Estate
Ares Commercial Real Estate Corporation, a specialty finance company, originates and invests in commercial real estate loans and related investments in the United States. It provides a range of financing solutions for the owners, operators, and sponsors of commercial real estate (CRE) properties. The company originates senior mortgage loans, subordinate debt products, mezzanine loans, real estate preferred equity investments, and other CRE investments.
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