Ares Commercial Real Estate Corp (ACRE) Receives $14.17 Average Target Price from Analysts
Ares Commercial Real Estate Corp (NYSE:ACRE) has been given a consensus rating of “Hold” by the seven research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $14.25.
A number of equities analysts recently issued reports on ACRE shares. B. Riley reaffirmed a “buy” rating on shares of Ares Commercial Real Estate in a report on Thursday, November 2nd. ValuEngine raised Ares Commercial Real Estate from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. Zacks Investment Research raised Ares Commercial Real Estate from a “sell” rating to a “hold” rating and set a $14.00 price target for the company in a report on Monday, November 6th. Finally, BidaskClub raised Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a report on Saturday, September 23rd.
Shares of Ares Commercial Real Estate (ACRE) traded up $0.04 on Tuesday, reaching $12.59. The company had a trading volume of 102,882 shares, compared to its average volume of 135,100. The firm has a market capitalization of $358.80, a P/E ratio of 11.04, a price-to-earnings-growth ratio of 1.49 and a beta of 0.69. Ares Commercial Real Estate has a 52-week low of $12.48 and a 52-week high of $14.22.
Ares Commercial Real Estate (NYSE:ACRE) last announced its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.11. The firm had revenue of $28.55 million during the quarter, compared to the consensus estimate of $11.71 million. Ares Commercial Real Estate had a return on equity of 7.76% and a net margin of 33.69%. During the same period in the prior year, the company posted $0.31 earnings per share. equities analysts forecast that Ares Commercial Real Estate will post 1.11 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 8.58%. The ex-dividend date is Thursday, December 28th. Ares Commercial Real Estate’s payout ratio is currently 94.74%.
Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of Ares Commercial Real Estate in the third quarter valued at approximately $103,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Ares Commercial Real Estate in the third quarter valued at approximately $140,000. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Ares Commercial Real Estate in the third quarter valued at approximately $185,000. Citadel Advisors LLC boosted its holdings in shares of Ares Commercial Real Estate by 32.1% in the second quarter. Citadel Advisors LLC now owns 16,324 shares of the real estate investment trust’s stock valued at $214,000 after acquiring an additional 3,966 shares during the period. Finally, Nationwide Fund Advisors boosted its holdings in shares of Ares Commercial Real Estate by 5.3% in the second quarter. Nationwide Fund Advisors now owns 16,686 shares of the real estate investment trust’s stock valued at $218,000 after acquiring an additional 839 shares during the period. 63.19% of the stock is owned by institutional investors and hedge funds.
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About Ares Commercial Real Estate
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.
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