Ares Commercial Real Estate Corp PT Lowered to $13.00 (ACRE)
FBR Capital Markets lowered their price target on shares of Ares Commercial Real Estate Corp (NASDAQ:ACRE) from $14.00 to $13.00 in a research note issued on Thursday, AnalystRatingsNetwork.com reports. The firm currently has a “market perform” rating on the stock. FBR Capital Markets’ target price suggests a potential upside of 4.42% from the company’s current price.
A number of other firms have also recently commented on ACRE. Analysts at Keefe, Bruyette & Woods initiated coverage on shares of Ares Commercial Real Estate Corp in a research note on Friday, April 11th. They set a “market perform” rating on the stock. Separately, analysts at JMP Securities cut their price target on shares of Ares Commercial Real Estate Corp from $15.50 to $15.00 in a research note on Thursday, March 20th. Finally, analysts at Zacks downgraded shares of Ares Commercial Real Estate Corp from a “neutral” rating to an “underperform” rating in a research note on Wednesday, March 19th. They now have a $12.80 price target on the stock. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $14.16.
Ares Commercial Real Estate Corp (NASDAQ:ACRE) traded up 1.14% during mid-day trading on Thursday, hitting $12.45. The stock had a trading volume of 246,448 shares. Ares Commercial Real Estate Corp has a 1-year low of $12.04 and a 1-year high of $17.15. The stock’s 50-day moving average is $12.90 and its 200-day moving average is $13.12. The company has a market cap of $355.9 million and a P/E ratio of 16.15.
Ares Commercial Real Estate Corp (NASDAQ:ACRE) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.17 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.20 by $0.03. On average, analysts predict that Ares Commercial Real Estate Corp will post $0.99 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, July 16th. Shareholders of record on Monday, June 30th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.03%. The ex-dividend date of this dividend is Thursday, June 26th.
Ares Commercial Real Estate Corporation is a specialty finance company. The Company is focused on originating, investing in and managing middle-market commercial real estate (NASDAQ:ACRE) loans and other commercial real estate-related investments.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.