Ares Commercial Real Estate Corporation (NYSE:ACRE) to Issue Quarterly Dividend of $0.15

Ares Commercial Real Estate Corporation (NYSE:ACRE) declared a quarterly dividend on Friday, November 7th. Investors of record on Wednesday, December 31st will be given a dividend of 0.15 per share by the real estate investment trust on Thursday, January 15th. This represents a c) dividend on an annualized basis and a yield of 11.9%. The ex-dividend date of this dividend is Wednesday, December 31st.

Ares Commercial Real Estate has decreased its dividend payment by an average of 0.1%annually over the last three years. Ares Commercial Real Estate has a payout ratio of 260.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Ares Commercial Real Estate Trading Up 12.6%

Shares of NYSE:ACRE traded up $0.57 on Friday, reaching $5.06. 1,353,517 shares of the company’s stock were exchanged, compared to its average volume of 518,873. Ares Commercial Real Estate has a twelve month low of $3.35 and a twelve month high of $7.49. The company has a fifty day moving average of $4.67 and a 200-day moving average of $4.61. The company has a market capitalization of $278.05 million, a price-to-earnings ratio of -14.87 and a beta of 1.34.

Ares Commercial Real Estate (NYSE:ACRE) last released its earnings results on Friday, November 7th. The real estate investment trust reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.17. The firm had revenue of $5.63 million during the quarter, compared to the consensus estimate of $11.35 million. Ares Commercial Real Estate had a negative return on equity of 5.44% and a negative net margin of 29.57%. As a group, equities research analysts forecast that Ares Commercial Real Estate will post -0.34 EPS for the current fiscal year.

About Ares Commercial Real Estate

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