Ares Commercial Real Estate Corporation (NYSE:ACRE) declared a quarterly dividend on Wednesday, November 1st, Zacks reports. Investors of record on Friday, December 29th will be paid a dividend of 0.27 per share by the real estate investment trust on Tuesday, January 16th. This represents a $1.08 dividend on an annualized basis and a yield of 8.32%. The ex-dividend date of this dividend is Thursday, December 28th.

Ares Commercial Real Estate Corporation has raised its dividend payment by an average of 1.0% annually over the last three years. Ares Commercial Real Estate Corporation has a dividend payout ratio of 103.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Ares Commercial Real Estate Corporation to earn $1.22 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 88.5%.

Ares Commercial Real Estate Corporation (NYSE:ACRE) last issued its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.11. The business had revenue of $28.55 million during the quarter, compared to analyst estimates of $11.71 million. Ares Commercial Real Estate Corporation had a return on equity of 7.07% and a net margin of 45.06%. During the same quarter in the prior year, the firm earned $0.31 earnings per share.

Several analysts have issued reports on the company. BidaskClub lowered Ares Commercial Real Estate Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, October 26th. Credit Suisse Group reaffirmed a “hold” rating on shares of Ares Commercial Real Estate Corporation in a research note on Friday, August 4th. Zacks Investment Research raised Ares Commercial Real Estate Corporation from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Wednesday, July 26th. JMP Securities upped their target price on Ares Commercial Real Estate Corporation to $14.00 and gave the stock a “market outperform” rating in a research note on Monday, August 7th. Finally, Keefe, Bruyette & Woods set a $14.00 target price on Ares Commercial Real Estate Corporation and gave the stock a “hold” rating in a research note on Thursday, August 17th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $14.45.

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Ares Commercial Real Estate Corporation Company Profile

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.

Dividend History for Ares Commercial Real Estate Corporation (NYSE:ACRE)

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