Ares Commercial Real Estate Corporation (NYSE:ACRE) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Ares Commercial Real Estate Corporation (NYSE:ACRE) have received an average recommendation of “Reduce” from the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $5.25.

A number of research firms have recently weighed in on ACRE. Keefe, Bruyette & Woods dropped their target price on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Zacks Research lowered shares of Ares Commercial Real Estate from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Wells Fargo & Company lifted their target price on shares of Ares Commercial Real Estate from $4.00 to $5.00 and gave the company an “underweight” rating in a research note on Thursday, February 12th. JPMorgan Chase & Co. cut their target price on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a “neutral” rating on the stock in a research note on Thursday, April 16th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ares Commercial Real Estate in a research note on Monday, May 11th.

Institutional Investors Weigh In On Ares Commercial Real Estate

Large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. boosted its stake in shares of Ares Commercial Real Estate by 456.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,033 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 4,948 shares in the last quarter. Triumph Capital Management bought a new stake in shares of Ares Commercial Real Estate during the 3rd quarter valued at about $38,000. BNP Paribas Financial Markets boosted its stake in shares of Ares Commercial Real Estate by 100.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 10,367 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 5,192 shares in the last quarter. Strs Ohio bought a new stake in shares of Ares Commercial Real Estate during the 1st quarter valued at about $47,000. Finally, 180 Wealth Advisors LLC bought a new stake in shares of Ares Commercial Real Estate during the 4th quarter valued at about $49,000. Institutional investors own 41.34% of the company’s stock.

Ares Commercial Real Estate Trading Up 0.1%

Ares Commercial Real Estate stock opened at $4.79 on Monday. The firm has a 50-day moving average of $4.96 and a 200-day moving average of $5.03. The firm has a market cap of $265.47 million, a P/E ratio of -13.29 and a beta of 1.18. Ares Commercial Real Estate has a 1-year low of $4.05 and a 1-year high of $5.89.

Ares Commercial Real Estate Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 12.5%. Ares Commercial Real Estate’s payout ratio is presently -166.67%.

Ares Commercial Real Estate Company Profile

Ares Commercial Real Estate Corporation (NYSE: ACRE) is a publicly traded real estate investment trust (REIT) primarily focused on commercial real estate debt investments. Externally managed by an affiliate of Ares Management Corporation, ACRE seeks to generate attractive risk-adjusted returns through its diversified portfolio of CRE financing strategies. The company specializes in originating, acquiring, financing and managing first mortgages, mezzanine loans, preferred equity and other structured finance products.

Since its inception, Ares Commercial Real Estate has targeted a broad range of property types, including multifamily, office, industrial, retail and hospitality assets.