Wall Street brokerages forecast that Ares Commercial Real Estate Corporation (NYSE:ACRE) will announce sales of $11.93 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Ares Commercial Real Estate Corporation’s earnings. The highest sales estimate is $12.23 million and the lowest is $11.63 million. Ares Commercial Real Estate Corporation reported sales of $20.78 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 42.6%. The company is scheduled to report its next quarterly earnings results on Thursday, November 2nd.

On average, analysts expect that Ares Commercial Real Estate Corporation will report full-year sales of $11.93 million for the current financial year, with estimates ranging from $44.56 million to $45.26 million. For the next year, analysts anticipate that the firm will post sales of $50.53 million per share, with estimates ranging from $50.49 million to $50.56 million. Zacks’ sales calculations are an average based on a survey of research firms that follow Ares Commercial Real Estate Corporation.

Ares Commercial Real Estate Corporation (NYSE:ACRE) last posted its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.24 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.24. Ares Commercial Real Estate Corporation had a return on equity of 7.07% and a net margin of 45.06%. The business had revenue of $10.40 million during the quarter, compared to analysts’ expectations of $10.85 million. During the same period in the previous year, the business earned $0.31 earnings per share. The firm’s revenue was down 1.0% on a year-over-year basis.

A number of equities research analysts have issued reports on the company. BidaskClub upgraded Ares Commercial Real Estate Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, September 23rd. Zacks Investment Research upgraded Ares Commercial Real Estate Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, September 21st. Keefe, Bruyette & Woods set a $14.00 price target on Ares Commercial Real Estate Corporation and gave the stock a “hold” rating in a research note on Thursday, August 17th. JMP Securities restated an “outperform” rating and set a $14.50 price objective (down previously from $15.00) on shares of Ares Commercial Real Estate Corporation in a research report on Thursday, August 10th. Finally, Credit Suisse Group restated a “hold” rating on shares of Ares Commercial Real Estate Corporation in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Ares Commercial Real Estate Corporation presently has an average rating of “Hold” and a consensus price target of $14.45.

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Hedge funds have recently modified their holdings of the stock. Karp Capital Management Corp purchased a new position in Ares Commercial Real Estate Corporation during the first quarter valued at approximately $277,000. Vanguard Group Inc. increased its holdings in Ares Commercial Real Estate Corporation by 7.2% during the first quarter. Vanguard Group Inc. now owns 1,188,935 shares of the real estate investment trust’s stock valued at $15,908,000 after buying an additional 79,338 shares during the period. American International Group Inc. increased its holdings in Ares Commercial Real Estate Corporation by 6.9% during the first quarter. American International Group Inc. now owns 16,512 shares of the real estate investment trust’s stock valued at $221,000 after buying an additional 1,060 shares during the period. HighTower Advisors LLC purchased a new position in Ares Commercial Real Estate Corporation during the second quarter valued at approximately $448,000. Finally, Bank of New York Mellon Corp increased its holdings in Ares Commercial Real Estate Corporation by 8.6% during the first quarter. Bank of New York Mellon Corp now owns 123,793 shares of the real estate investment trust’s stock valued at $1,656,000 after buying an additional 9,833 shares during the period. 65.13% of the stock is currently owned by institutional investors.

Ares Commercial Real Estate Corporation (ACRE) opened at 13.56 on Friday. The company’s 50-day moving average price is $13.32 and its 200 day moving average price is $13.29. The stock has a market capitalization of $387.23 million, a PE ratio of 9.73 and a beta of 0.69. Ares Commercial Real Estate Corporation has a 52-week low of $12.24 and a 52-week high of $14.39.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 7.96%. The ex-dividend date was Thursday, September 28th. Ares Commercial Real Estate Corporation’s payout ratio is 77.14%.

About Ares Commercial Real Estate Corporation

Ares Commercial Real Estate Corporation is a specialty finance company. The Company is primarily engaged in originating and investing in commercial real estate (CRE) loans and related investments. The Company operates through principal lending segment. Its target investments include senior mortgage loans, subordinated debt, preferred equity, mezzanine loans and other CRE investment opportunities, including commercial mortgage-backed securities.

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