FBR & Co reissued their buy rating on shares of Ares Commercial Real Estate Corp. (NYSE:ACRE) in a report issued on Wednesday. They currently have a $13.00 price objective on the stock.

ACRE has been the topic of several other research reports. Zacks Investment Research lowered Ares Commercial Real Estate Corp. from a hold rating to a sell rating in a research note on Tuesday, July 12th. Credit Suisse Group AG reaffirmed a hold rating and set a $13.00 price target on shares of Ares Commercial Real Estate Corp. in a research note on Monday, August 8th. Bank of America Corp. reaffirmed a buy rating on shares of Ares Commercial Real Estate Corp. in a research note on Thursday, June 30th. Citigroup Inc. upped their price target on Ares Commercial Real Estate Corp. from $12.00 to $14.00 and gave the company a buy rating in a research note on Thursday, August 11th. Finally, Keefe, Bruyette & Woods upped their price target on Ares Commercial Real Estate Corp. from $12.00 to $13.00 and gave the company a market perform rating in a research note on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $13.00.

Shares of Ares Commercial Real Estate Corp. (NYSE:ACRE) opened at 12.49 on Wednesday. The company has a market cap of $354.95 million, a PE ratio of 11.14 and a beta of 0.82. The company has a 50 day moving average price of $12.59 and a 200 day moving average price of $11.94. Ares Commercial Real Estate Corp. has a 52 week low of $8.91 and a 52 week high of $13.07.

Ares Commercial Real Estate Corp. (NYSE:ACRE) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.04. Ares Commercial Real Estate Corp. had a return on equity of 6.33% and a net margin of 40.58%. The business had revenue of $10.51 million for the quarter, compared to analyst estimates of $20.10 million. During the same quarter in the prior year, the firm posted $0.31 earnings per share. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. On average, equities analysts expect that Ares Commercial Real Estate Corp. will post $1.12 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 8.33%. The ex-dividend date of this dividend is Wednesday, September 28th. Ares Commercial Real Estate Corp.’s payout ratio is 92.04%.

In related news, CEO Robert L. Rosen bought 10,000 shares of the business’s stock in a transaction on Wednesday, September 14th. The shares were purchased at an average price of $12.35 per share, with a total value of $123,500.00. Following the completion of the purchase, the chief executive officer now owns 50,013 shares of the company’s stock, valued at approximately $617,660.55. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James E. Skinner bought 2,000 shares of the business’s stock in a transaction on Thursday, August 25th. The stock was bought at an average cost of $12.52 per share, for a total transaction of $25,040.00. Following the purchase, the director now directly owns 11,936 shares of the company’s stock, valued at approximately $149,438.72. The disclosure for this purchase can be found here. 1.60% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Panagora Asset Management Inc. raised its position in Ares Commercial Real Estate Corp. by 125.3% in the second quarter. Panagora Asset Management Inc. now owns 9,593 shares of the company’s stock valued at $118,000 after buying an additional 5,336 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in Ares Commercial Real Estate Corp. during the second quarter worth approximately $133,000. BOKF NA raised its stake in Ares Commercial Real Estate Corp. by 0.5% in the second quarter. BOKF NA now owns 11,167 shares of the company’s stock worth $138,000 after buying an additional 58 shares in the last quarter. BlackRock Advisors LLC raised its stake in Ares Commercial Real Estate Corp. by 36.5% in the second quarter. BlackRock Advisors LLC now owns 12,595 shares of the company’s stock worth $155,000 after buying an additional 3,365 shares in the last quarter. Finally, Suntrust Banks Inc. raised its stake in Ares Commercial Real Estate Corp. by 1.8% in the second quarter. Suntrust Banks Inc. now owns 14,747 shares of the company’s stock worth $180,000 after buying an additional 255 shares in the last quarter. 65.92% of the stock is currently owned by hedge funds and other institutional investors.

About Ares Commercial Real Estate Corp.

Ares Commercial Real Estate Corporation is a specialty finance company. The Company is focused on directly originating, managing and servicing a portfolio of commercial real estate (CRE) debt-related investments for its own account. It operates in two segments: principal lending and mortgage banking.

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