Analysts Set Ares Commercial Real Estate Corp (ACRE) Price Target at $14.17

Shares of Ares Commercial Real Estate Corp (NYSE:ACRE) have been given a consensus rating of “Hold” by the eight analysts that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $14.17.

ACRE has been the topic of several recent research reports. Keefe, Bruyette & Woods set a $14.00 price target on shares of Ares Commercial Real Estate and gave the stock a “hold” rating in a research report on Thursday, August 17th. BidaskClub downgraded shares of Ares Commercial Real Estate from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. Zacks Investment Research upgraded shares of Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research report on Thursday, September 21st. B. Riley restated a “buy” rating on shares of Ares Commercial Real Estate in a research report on Thursday, November 2nd. Finally, ValuEngine upgraded shares of Ares Commercial Real Estate from a “hold” rating to a “buy” rating in a research report on Tuesday, November 7th.

Ares Commercial Real Estate (ACRE) traded up $0.09 on Friday, reaching $13.43. 61,362 shares of the company’s stock traded hands, compared to its average volume of 110,306. Ares Commercial Real Estate has a fifty-two week low of $12.48 and a fifty-two week high of $14.22. The company has a market capitalization of $380.82, a P/E ratio of 11.58, a PEG ratio of 1.71 and a beta of 0.69.

Ares Commercial Real Estate (NYSE:ACRE) last released its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.11. Ares Commercial Real Estate had a net margin of 33.69% and a return on equity of 7.76%. The business had revenue of $28.55 million for the quarter, compared to the consensus estimate of $11.71 million. During the same period last year, the firm earned $0.31 earnings per share. analysts predict that Ares Commercial Real Estate will post 1.11 earnings per share for the current year.

The company also recently disclosed 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 of this dividend is Thursday, December 28th. This represents a $1.08 annualized dividend and a dividend yield of 8.04%. Ares Commercial Real Estate’s payout ratio is 94.74%.

Several hedge funds have recently made changes to their positions in ACRE. Yorktown Management & Research Co Inc bought a new stake in shares of Ares Commercial Real Estate during the 2nd quarter valued at $3,011,000. Thrivent Financial For Lutherans grew its stake in Ares Commercial Real Estate by 155.5% during the second quarter. Thrivent Financial For Lutherans now owns 226,060 shares of the real estate investment trust’s stock valued at $2,959,000 after acquiring an additional 137,570 shares in the last quarter. Kennedy Capital Management Inc. grew its stake in Ares Commercial Real Estate by 113.2% during the second quarter. Kennedy Capital Management Inc. now owns 170,749 shares of the real estate investment trust’s stock valued at $2,235,000 after acquiring an additional 90,644 shares in the last quarter. Vanguard Group Inc. grew its stake in Ares Commercial Real Estate by 7.2% during the first quarter. Vanguard Group Inc. now owns 1,188,935 shares of the real estate investment trust’s stock valued at $15,908,000 after acquiring an additional 79,338 shares in the last quarter. Finally, Delphi Management Inc. MA purchased a new position in Ares Commercial Real Estate during the third quarter valued at $850,000. Hedge funds and other institutional investors own 63.19% of the company’s stock.

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Ares Commercial Real Estate 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.

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