Ares Commercial Real Estate Co. (NYSE:ACRE) Receives $5.81 Consensus Target Price from Brokerages

Ares Commercial Real Estate Co. (NYSE:ACRE) has received a consensus recommendation of “Reduce” from the six analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $5.81.

Several analysts have commented on the stock. UBS Group lowered their price objective on shares of Ares Commercial Real Estate from $6.00 to $5.25 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Keefe, Bruyette & Woods lowered their price target on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a “market perform” rating on the stock in a report on Thursday, February 13th. JMP Securities reissued a “market perform” rating on shares of Ares Commercial Real Estate in a research report on Thursday, February 13th. JPMorgan Chase & Co. dropped their price target on Ares Commercial Real Estate from $6.00 to $5.50 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Finally, StockNews.com raised Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a report on Tuesday, December 17th.

Ares Commercial Real Estate Stock Down 2.3 %

Ares Commercial Real Estate stock opened at $4.53 on Wednesday. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market cap of $248.23 million, a PE ratio of -6.96 and a beta of 1.57. Ares Commercial Real Estate has a fifty-two week low of $4.48 and a fifty-two week high of $7.99. The firm’s 50-day simple moving average is $5.15 and its 200 day simple moving average is $6.13.

Ares Commercial Real Estate Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.15 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 13.26%. Ares Commercial Real Estate’s dividend payout ratio (DPR) is currently -92.31%.

Insider Buying and Selling

In related news, VP Anton Feingold sold 7,615 shares of Ares Commercial Real Estate stock in a transaction on Friday, January 31st. The stock was sold at an average price of $5.68, for a total transaction of $43,253.20. Following the completion of the sale, the vice president now owns 78,360 shares of the company’s stock, valued at approximately $445,084.80. This trade represents a 8.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.80% of the stock is currently owned by insiders.

Institutional Trading of Ares Commercial Real Estate

A number of large investors have recently modified their holdings of the business. Summit Securities Group LLC raised its stake in Ares Commercial Real Estate by 139.7% in the fourth quarter. Summit Securities Group LLC now owns 6,700 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 3,905 shares in the last quarter. FMR LLC raised its position in shares of Ares Commercial Real Estate by 211.0% during the 3rd quarter. FMR LLC now owns 7,741 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 5,252 shares in the last quarter. McIlrath & Eck LLC bought a new stake in shares of Ares Commercial Real Estate during the 4th quarter worth $54,000. Brown Brothers Harriman & Co. purchased a new position in Ares Commercial Real Estate in the fourth quarter worth $69,000. Finally, New York State Common Retirement Fund increased its stake in Ares Commercial Real Estate by 160.9% in the fourth quarter. New York State Common Retirement Fund now owns 11,838 shares of the real estate investment trust’s stock valued at $70,000 after acquiring an additional 7,300 shares during the last quarter. Institutional investors own 41.34% of the company’s stock.

Ares Commercial Real Estate Company Profile

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.