Ares Commercial Real Estate Corporation (NYSE:ACRE) Receives $14.08 Consensus Price Target from Analysts

Shares of Ares Commercial Real Estate Corporation (NYSE:ACRE) have been assigned a consensus recommendation of “Hold” from the nine analysts that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $14.10.

Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods restated a “hold” rating and set a $13.75 target price on shares of Ares Commercial Real Estate Corporation in a research note on Friday, June 9th. Credit Suisse Group restated a “hold” rating on shares of Ares Commercial Real Estate Corporation in a research note on Friday. Zacks Investment Research upgraded Ares Commercial Real Estate Corporation from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Wednesday, July 26th. JMP Securities boosted their target price on Ares Commercial Real Estate Corporation to $14.00 and gave the stock a “market outperform” rating in a research note on Monday. Finally, BidaskClub upgraded Ares Commercial Real Estate Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday.

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In other news, insider Robert L. Rosen purchased 10,000 shares of the business’s stock in a transaction on Wednesday, May 10th. The shares were bought at an average price of $13.04 per share, with a total value of $130,400.00. Following the completion of the transaction, the insider now directly owns 66,002 shares in the company, valued at approximately $860,666.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.75% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. KAMES CAPITAL plc purchased a new position in Ares Commercial Real Estate Corporation during the second quarter valued at approximately $3,430,000. Clough Capital Partners L P raised its position in Ares Commercial Real Estate Corporation by 75.8% in the first quarter. Clough Capital Partners L P now owns 349,200 shares of the real estate investment trust’s stock worth $4,672,000 after buying an additional 150,555 shares during the last quarter. Telemus Capital LLC raised its position in Ares Commercial Real Estate Corporation by 42.0% in the first quarter. Telemus Capital LLC now owns 402,595 shares of the real estate investment trust’s stock worth $5,387,000 after buying an additional 119,109 shares during the last quarter. Nuveen Asset Management LLC raised its position in Ares Commercial Real Estate Corporation by 149.3% in the first quarter. Nuveen Asset Management LLC now owns 196,257 shares of the real estate investment trust’s stock worth $2,626,000 after buying an additional 117,544 shares during the last quarter. Finally, Thrivent Financial For Lutherans bought a new position in Ares Commercial Real Estate Corporation during the first quarter worth about $1,184,000. 66.87% of the stock is currently owned by institutional investors.

Ares Commercial Real Estate Corporation (NYSE:ACRE) traded down 0.30% during trading on Friday, hitting $13.35. 144,218 shares of the stock traded hands. The company has a market cap of $380.06 million, a P/E ratio of 9.12 and a beta of 0.69. The company’s 50 day moving average price is $13.17 and its 200 day moving average price is $13.33. Ares Commercial Real Estate Corporation has a 12 month low of $12.13 and a 12 month high of $14.39.

Ares Commercial Real Estate Corporation (NYSE:ACRE) last posted its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. The firm had revenue of $10.40 million during the quarter, compared to analysts’ expectations of $10.85 million. Ares Commercial Real Estate Corporation had a return on equity of 7.07% and a net margin of 45.06%. The firm’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 earnings per share. On average, equities research analysts anticipate that Ares Commercial Real Estate Corporation will post $1.05 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 8.09%. The ex-dividend date is Thursday, September 28th. Ares Commercial Real Estate Corporation’s dividend payout ratio (DPR) is 77.14%.

Ares Commercial Real Estate Corporation Company Profile

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.

Analyst Recommendations for Ares Commercial Real Estate Corporation (NYSE:ACRE)

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