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Ares Commercial Real Estate Corp (NASDAQ:ACRE) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued to investors on Monday. They currently have a $11.70 price objective on the stock. Zacks‘s price target indicates a potential downside of 5.19% from the company’s current price.

Ares Commercial Real Estate Corp (NASDAQ:ACRE) traded down 0.24% on Monday, hitting $12.31. 120,128 shares of the company’s stock traded hands. Ares Commercial Real Estate Corp has a 52 week low of $12.04 and a 52 week high of $13.95. The stock’s 50-day moving average is $12.48 and its 200-day moving average is $12.85. The company has a market cap of $350.3 million and a price-to-earnings ratio of 16.30.

Ares Commercial Real Estate Corp (NASDAQ:ACRE) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.02. The company had revenue of $19.17 million for the quarter, compared to the consensus estimate of $13.92 million. During the same quarter in the previous year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was up 209.2% on a year-over-year basis. On average, analysts predict that Ares Commercial Real Estate Corp will post $0.92 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.10%. The ex-dividend date is Friday, September 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.

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