Analysts forecast that Ares Commercial Real Estate Corporation (NYSE:ACRE) will announce sales of $11.53 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Ares Commercial Real Estate Corporation’s earnings, with the highest sales estimate coming in at $11.63 million and the lowest estimate coming in at $11.43 million. Ares Commercial Real Estate Corporation posted sales of $20.78 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 44.5%. The firm is expected to issue its next earnings report on Thursday, November 2nd.

On average, analysts expect that Ares Commercial Real Estate Corporation will report full year sales of $11.53 million for the current financial year, with estimates ranging from $44.56 million to $44.70 million. For the next financial year, analysts expect that the firm will report sales of $50.58 million per share, with estimates ranging from $50.49 million to $50.67 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Ares Commercial Real Estate Corporation.

Ares Commercial Real Estate Corporation (NYSE:ACRE) last posted its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.24 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.24. Ares Commercial Real Estate Corporation had a net margin of 45.06% and a return on equity of 7.07%. The company had revenue of $10.40 million during the quarter, compared to the consensus estimate of $10.85 million. During the same period in the prior year, the business posted $0.31 EPS. The company’s quarterly revenue was down 1.0% on a year-over-year basis.

A number of research firms have commented on ACRE. JMP Securities raised their target price on shares of Ares Commercial Real Estate Corporation to $14.00 and gave the stock a “market outperform” rating in a research note on Monday, August 7th. 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 Wednesday, May 3rd. Zacks Investment Research cut shares of Ares Commercial Real Estate Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. BidaskClub upgraded shares of Ares Commercial Real Estate Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, Credit Suisse Group restated a “hold” rating on shares of Ares Commercial Real Estate Corporation in a research note on Friday, August 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $14.21.

ILLEGAL ACTIVITY WARNING: This article was originally published by Watch List News and is the property of of Watch List News. If you are reading this article on another website, it was stolen and republished in violation of international copyright laws. The correct version of this article can be accessed at https://www.watchlistnews.com/zacks-analysts-expect-ares-commercial-real-estate-corporation-acre-will-announce-quarterly-sales-of-11-53-million/1532580.html.

Large investors have recently added to or reduced their stakes in the stock. Edge Wealth Management LLC boosted its stake in Ares Commercial Real Estate Corporation by 900.0% in the second quarter. Edge Wealth Management LLC now owns 10,000 shares of the real estate investment trust’s stock valued at $132,000 after buying an additional 9,000 shares during the last quarter. Tudor Investment Corp ET AL boosted its stake in Ares Commercial Real Estate Corporation by 1.5% in the first quarter. Tudor Investment Corp ET AL now owns 10,705 shares of the real estate investment trust’s stock valued at $143,000 after buying an additional 158 shares during the last quarter. Hancock Holding Co. boosted its stake in Ares Commercial Real Estate Corporation by 26.0% in the first quarter. Hancock Holding Co. now owns 13,162 shares of the real estate investment trust’s stock valued at $176,000 after buying an additional 2,713 shares during the last quarter. ClariVest Asset Management LLC boosted its stake in Ares Commercial Real Estate Corporation by 5.4% in the first quarter. ClariVest Asset Management LLC now owns 15,494 shares of the real estate investment trust’s stock valued at $208,000 after buying an additional 791 shares during the last quarter. Finally, Citadel Advisors LLC boosted its stake in Ares Commercial Real Estate Corporation 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 buying an additional 3,966 shares during the last quarter. Hedge funds and other institutional investors own 65.15% of the company’s stock.

Ares Commercial Real Estate Corporation (NYSE ACRE) traded down 0.38% during trading on Friday, hitting $13.13. 57,329 shares of the stock were exchanged. The firm’s 50-day moving average is $13.07 and its 200 day moving average is $13.29. The firm has a market cap of $374.95 million, a PE ratio of 9.43 and a beta of 0.69. Ares Commercial Real Estate Corporation has a 52 week low of $12.13 and a 52 week high of $14.39.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders 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 dividend yield of 8.23%. The ex-dividend date is Thursday, September 28th. Ares Commercial Real Estate Corporation’s payout ratio is currently 77.14%.

About Ares Commercial Real Estate Corporation

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.

Get a free copy of the Zacks research report on Ares Commercial Real Estate Corporation (ACRE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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