Equities research analysts expect that Ares Commercial Real Estate Corp (NYSE:ACRE) will post $11.23 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Ares Commercial Real Estate’s earnings. The lowest sales estimate is $10.78 million and the highest is $11.67 million. Ares Commercial Real Estate reported sales of $23.51 million in the same quarter last year, which indicates a negative year over year growth rate of 52.2%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, March 6th.
According to Zacks, analysts expect that Ares Commercial Real Estate will report full year sales of $11.23 million for the current financial year, with estimates ranging from $46.26 million to $47.15 million. For the next fiscal year, analysts expect that the business will report sales of $49.21 million per share, with estimates ranging from $48.53 million to $49.89 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Ares Commercial Real Estate.
Ares Commercial Real Estate (NYSE:ACRE) last posted its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.11. Ares Commercial Real Estate had a return on equity of 7.76% and a net margin of 33.69%. The company had revenue of $28.55 million for the quarter, compared to analysts’ expectations of $11.71 million. During the same period last year, the firm earned $0.31 earnings per share.
Institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of Ares Commercial Real Estate during the third quarter worth about $103,000. Edge Wealth Management LLC increased its position in shares of Ares Commercial Real Estate by 900.0% during the second quarter. Edge Wealth Management LLC now owns 10,000 shares of the real estate investment trust’s stock worth $132,000 after purchasing an additional 9,000 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Ares Commercial Real Estate during the third quarter worth about $140,000. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Ares Commercial Real Estate during the third quarter worth about $185,000. Finally, Citadel Advisors LLC increased its position in shares of Ares Commercial Real Estate by 32.1% during the second quarter. Citadel Advisors LLC now owns 16,324 shares of the real estate investment trust’s stock worth $214,000 after purchasing an additional 3,966 shares in the last quarter. Institutional investors and hedge funds own 63.12% of the company’s stock.
Ares Commercial Real Estate (NYSE ACRE) traded up $0.09 during trading on Thursday, reaching $13.48. The company’s stock had a trading volume of 163,948 shares, compared to its average volume of 112,019. Ares Commercial Real Estate has a one year low of $12.48 and a one year high of $14.39. The firm has a market capitalization of $382.82, a PE ratio of 11.56, a PEG ratio of 1.71 and a beta of 0.68.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 8.01%. The ex-dividend date is Thursday, December 28th. Ares Commercial Real Estate’s dividend payout ratio is presently 95.58%.
About Ares Commercial Real Estate
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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