Wall Street analysts expect Ares Commercial Real Estate Corp (NYSE:ACRE) to announce sales of $11.25 million for the current quarter, Zacks reports. Two analysts have provided estimates for Ares Commercial Real Estate’s earnings. The highest sales estimate is $11.67 million and the lowest is $10.82 million. Ares Commercial Real Estate posted sales of $23.51 million during the same quarter last year, which suggests a negative year-over-year growth rate of 52.1%. The firm is expected to report its next earnings report on Tuesday, March 6th.
On average, analysts expect that Ares Commercial Real Estate will report full-year sales of $11.25 million for the current fiscal year, with estimates ranging from $46.30 million to $47.15 million. For the next fiscal year, analysts anticipate that the business will post sales of $49.63 million per share, with estimates ranging from $49.36 million to $49.89 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Ares Commercial Real Estate.
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 for the quarter, topping the consensus estimate of $0.28 by $0.11. The firm had revenue of $28.55 million for the quarter, compared to analyst estimates of $11.71 million. Ares Commercial Real Estate had a net margin of 33.69% and a return on equity of 7.76%. During the same quarter in the prior year, the business earned $0.31 earnings per share.
Large investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in shares of Ares Commercial Real Estate in the third quarter valued at approximately $103,000. Atria Investments LLC acquired a new stake in shares of Ares Commercial Real Estate in the fourth quarter valued at approximately $132,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Ares Commercial Real Estate in the third quarter valued at approximately $140,000. Edge Wealth Management LLC increased its stake in shares of Ares Commercial Real Estate by 40.0% in the fourth quarter. Edge Wealth Management LLC now owns 14,000 shares of the real estate investment trust’s stock valued at $181,000 after purchasing an additional 4,000 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Ares Commercial Real Estate in the third quarter valued at approximately $185,000. Institutional investors own 63.19% of the company’s stock.
Shares of Ares Commercial Real Estate (NYSE ACRE) opened at $13.08 on Friday. The firm has a market cap of $373.96, a PE ratio of 11.58 and a beta of 0.69. Ares Commercial Real Estate has a 12 month low of $12.48 and a 12 month high of $14.22.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were paid a $0.27 dividend. The ex-dividend date was Thursday, December 28th. This represents a $1.08 annualized dividend and a dividend yield of 8.26%. Ares Commercial Real Estate’s payout ratio is currently 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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