Ares Commercial Real Estate (NYSE:ACRE) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of Ares Commercial Real Estate Corporation (NYSE:ACRE) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $4.75 and traded as high as $5.48. Ares Commercial Real Estate shares last traded at $5.3760, with a volume of 711,780 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ACRE. Keefe, Bruyette & Woods upgraded shares of Ares Commercial Real Estate from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $4.75 to $5.50 in a research report on Monday. Wall Street Zen raised Ares Commercial Real Estate from a “strong sell” rating to a “hold” rating in a research note on Saturday, November 15th. UBS Group raised their price objective on shares of Ares Commercial Real Estate from $4.50 to $5.00 and gave the company a “neutral” rating in a research note on Friday, November 14th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Ares Commercial Real Estate in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Ares Commercial Real Estate presently has an average rating of “Hold” and an average target price of $5.33.

Ares Commercial Real Estate Price Performance

The firm has a 50-day moving average of $4.84 and a 200 day moving average of $4.75. The stock has a market capitalization of $295.84 million, a price-to-earnings ratio of -35.84 and a beta of 1.27.

Ares Commercial Real Estate (NYSE:ACRE) last issued its earnings results on Friday, November 7th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.17. The company had revenue of $5.63 million for the quarter, compared to analysts’ expectations of $11.35 million. Ares Commercial Real Estate had a negative net margin of 13.02% and a negative return on equity of 5.15%. On average, equities analysts forecast that Ares Commercial Real Estate Corporation will post -0.34 earnings per share for the current year.

Ares Commercial Real Estate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 11.2%. The ex-dividend date of this dividend is Wednesday, December 31st. Ares Commercial Real Estate’s dividend payout ratio is currently -400.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Ares Commercial Real Estate by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 3,110,321 shares of the real estate investment trust’s stock valued at $14,028,000 after acquiring an additional 74,453 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Ares Commercial Real Estate by 2.9% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,315,902 shares of the real estate investment trust’s stock valued at $5,935,000 after purchasing an additional 37,062 shares in the last quarter. North Ground Capital acquired a new stake in Ares Commercial Real Estate in the third quarter valued at $5,222,000. Cura Wealth Advisors LLC lifted its stake in shares of Ares Commercial Real Estate by 32.1% in the first quarter. Cura Wealth Advisors LLC now owns 963,485 shares of the real estate investment trust’s stock worth $4,461,000 after acquiring an additional 234,258 shares during the period. Finally, Alpine Global Management LLC bought a new position in Ares Commercial Real Estate during the third quarter worth $2,679,000. Institutional investors and hedge funds own 41.34% of the company’s stock.

About Ares Commercial Real Estate

Ares Commercial Real Estate Corporation, a specialty finance company, originates and invests in commercial real estate (CRE) loans and related investments in the United States. It provides a range of financing solutions for the owners, operators, and sponsors of CRE properties. The company originates senior mortgage loans, subordinate debt and preferred equity products, mezzanine loans, and other CRE investments, including commercial mortgage-backed securities.