Ares Commercial Real Estate (ACRE) to Release Earnings on Thursday

Ares Commercial Real Estate (NYSE:ACRE) will post its quarterly earnings results before the market opens on Thursday, May 9th. Analysts expect Ares Commercial Real Estate to post earnings of ($0.30) per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

Ares Commercial Real Estate Trading Up 0.2 %

Ares Commercial Real Estate stock opened at $6.94 on Tuesday. Ares Commercial Real Estate has a 1 year low of $6.36 and a 1 year high of $11.24. The firm’s 50 day moving average price is $7.22 and its 200-day moving average price is $8.86. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 2.42.

Ares Commercial Real Estate Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Thursday, March 28th were issued a $0.25 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a yield of 14.42%. Ares Commercial Real Estate’s dividend payout ratio is currently -138.89%.

Insider Activity

In other Ares Commercial Real Estate news, CEO Bryan Patrick Donohoe purchased 3,509 shares of Ares Commercial Real Estate stock in a transaction dated Sunday, March 10th. The stock was acquired at an average price of $14.32 per share, for a total transaction of $50,248.88. Following the acquisition, the chief executive officer now owns 41,259 shares in the company, valued at approximately $590,828.88. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ACRE. TheStreet lowered Ares Commercial Real Estate from a “c-” rating to a “d+” rating in a research report on Tuesday, March 5th. Keefe, Bruyette & Woods reduced their price objective on Ares Commercial Real Estate from $8.00 to $7.50 and set a “market perform” rating on the stock in a research note on Wednesday, April 10th. UBS Group reduced their price objective on Ares Commercial Real Estate from $10.50 to $8.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 20th. JPMorgan Chase & Co. lowered their price objective on Ares Commercial Real Estate from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, April 10th. Finally, Bank of America restated an “underperform” rating and set a $7.00 price target (down previously from $11.00) on shares of Ares Commercial Real Estate in a report on Monday, March 4th. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $8.50.

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.