Ares Commercial Real Estate Corporation (ACRE) Posts Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Ares Commercial Real Estate Corporation (NYSE:ACRE) issued its quarterly earnings results on Wednesday. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.11, Bloomberg Earnings reports. Ares Commercial Real Estate Corporation had a return on equity of 7.75% and a net margin of 33.69%. The firm had revenue of $28.55 million for the quarter, compared to analysts’ expectations of $11.71 million. During the same quarter in the previous year, the firm posted $0.31 EPS.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a dividend of $0.27 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.08 annualized dividend and a dividend yield of 8.28%. Ares Commercial Real Estate Corporation’s payout ratio is 94.74%.

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Several research firms have issued reports on ACRE. JMP Securities reiterated an “outperform” rating and set a $14.50 target price (down previously from $15.00) on shares of Ares Commercial Real Estate Corporation in a research report on Thursday, August 10th. BidaskClub raised Ares Commercial Real Estate Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Keefe, Bruyette & Woods set a $14.00 price target on Ares Commercial Real Estate Corporation and gave the stock a “hold” rating in a research note on Thursday, August 17th. Zacks Investment Research lowered Ares Commercial Real Estate Corporation from a “buy” 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 report on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $14.45.

Ares Commercial Real Estate Corporation Company Profile

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.

Earnings History for Ares Commercial Real Estate Corporation (NYSE:ACRE)

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