Ares Commercial Real Estate Corp (NYSE:ACRE) has received a consensus rating of “Hold” from the eight analysts that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $14.17.
Several equities analysts have recently weighed in on the company. BidaskClub cut Ares Commercial Real Estate from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 7th. ValuEngine raised Ares Commercial Real Estate from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. Zacks Investment Research raised Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a report on Thursday, September 21st. JMP Securities reissued an “outperform” rating and set a $14.50 price target (down from $15.00) on shares of Ares Commercial Real Estate in a report on Thursday, August 10th. Finally, Keefe, Bruyette & Woods set a $14.00 price target on Ares Commercial Real Estate and gave the company a “hold” rating in a report on Thursday, August 17th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Yorktown Management & Research Co Inc bought a new position in Ares Commercial Real Estate in the 2nd quarter worth $3,011,000. Thrivent Financial For Lutherans raised its holdings in Ares Commercial Real Estate by 155.5% in the 2nd quarter. Thrivent Financial For Lutherans now owns 226,060 shares of the real estate investment trust’s stock worth $2,959,000 after purchasing an additional 137,570 shares during the period. Kennedy Capital Management Inc. raised its holdings in Ares Commercial Real Estate by 113.2% in the 2nd quarter. Kennedy Capital Management Inc. now owns 170,749 shares of the real estate investment trust’s stock worth $2,235,000 after purchasing an additional 90,644 shares during the period. Vanguard Group Inc. raised its holdings in Ares Commercial Real Estate by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 1,188,935 shares of the real estate investment trust’s stock worth $15,908,000 after purchasing an additional 79,338 shares during the period. Finally, Delphi Management Inc. MA purchased a new stake in Ares Commercial Real Estate in the 3rd quarter worth $850,000. 63.19% of the stock is currently owned by hedge funds and other institutional investors.
Ares Commercial Real Estate (NYSE:ACRE) last released its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.11. The business had revenue of $28.55 million for the quarter, compared to analysts’ expectations of $11.71 million. Ares Commercial Real Estate had a return on equity of 7.76% and a net margin of 33.69%. During the same period in the prior year, the firm posted $0.31 EPS. research analysts forecast that Ares Commercial Real Estate will post 1.11 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.08 annualized dividend and a dividend yield of 8.09%. Ares Commercial Real Estate’s payout ratio is 95.58%.
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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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