Ares Commercial Real Estate Corp (NYSE:ACRE) shares reached a new 52-week high on Tuesday after Credit Suisse Group raised their price target on the stock from $14.00 to $14.50. Credit Suisse Group currently has a neutral rating on the stock. Ares Commercial Real Estate traded as high as $14.43 and last traded at $14.40, with a volume of 2018 shares traded. The stock had previously closed at $14.25.

Several other research analysts have also recently commented on ACRE. Zacks Investment Research raised Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research report on Wednesday, August 15th. JMP Securities increased their price target on Ares Commercial Real Estate from $14.50 to $15.00 and gave the company a “market outperform” rating in a research report on Monday, July 30th. ValuEngine cut Ares Commercial Real Estate from a “buy” rating to a “hold” rating in a research report on Friday, June 1st. Raymond James began coverage on Ares Commercial Real Estate in a research report on Monday, July 23rd. They set an “outperform” rating for the company. Finally, Bank of America raised Ares Commercial Real Estate from an “underperform” rating to a “buy” rating in a research report on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $14.30.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC boosted its position in Ares Commercial Real Estate by 21.0% during the second quarter. Millennium Management LLC now owns 314,406 shares of the real estate investment trust’s stock valued at $4,342,000 after purchasing an additional 54,543 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Ares Commercial Real Estate during the second quarter valued at approximately $603,000. Resource America Inc. acquired a new position in Ares Commercial Real Estate during the second quarter valued at approximately $3,256,000. Greenwich Investment Management Inc. boosted its position in Ares Commercial Real Estate by 10.7% during the second quarter. Greenwich Investment Management Inc. now owns 71,155 shares of the real estate investment trust’s stock valued at $983,000 after purchasing an additional 6,900 shares during the last quarter. Finally, Citadel Advisors LLC boosted its position in Ares Commercial Real Estate by 69.4% during the second quarter. Citadel Advisors LLC now owns 30,656 shares of the real estate investment trust’s stock valued at $423,000 after purchasing an additional 12,559 shares during the last quarter. 67.15% of the stock is owned by hedge funds and other institutional investors.

The stock has a market cap of $405.51 million, a P/E ratio of 12.95 and a beta of 0.55.

Ares Commercial Real Estate (NYSE:ACRE) last issued its quarterly earnings results on Thursday, July 26th. The real estate investment trust reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03. Ares Commercial Real Estate had a return on equity of 8.85% and a net margin of 32.36%. The firm had revenue of $29.60 million during the quarter, compared to analysts’ expectations of $27.30 million. equities analysts predict that Ares Commercial Real Estate Corp will post 1.32 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 16th. Stockholders of record on Friday, September 28th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 8.06%. This is a boost from Ares Commercial Real Estate’s previous quarterly dividend of $0.28. The ex-dividend date is Thursday, September 27th. Ares Commercial Real Estate’s dividend payout ratio (DPR) is presently 100.90%.

About Ares Commercial Real Estate (NYSE:ACRE)

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

Further Reading: New Google Finance Tool and Screening Stocks

Receive News & Ratings for Ares Commercial Real Estate Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Commercial Real Estate and related companies with MarketBeat.com's FREE daily email newsletter.