Shares of Ares Commercial Real Estate Corp (NYSE:ACRE) have received a consensus rating of “Buy” from the seven analysts that are covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $14.75.
A number of analysts recently commented on the company. Zacks Investment Research raised Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Monday, July 8th. ValuEngine raised Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, April 1st.
Shares of NYSE:ACRE traded up $0.03 during midday trading on Friday, reaching $15.18. The company’s stock had a trading volume of 234,406 shares, compared to its average volume of 183,494. The firm has a market capitalization of $437.36 million, a price-to-earnings ratio of 10.92 and a beta of 0.59. The stock has a 50 day moving average of $14.99. Ares Commercial Real Estate has a fifty-two week low of $12.75 and a fifty-two week high of $15.53.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 16th. Investors of record on Friday, June 28th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 8.70%. The ex-dividend date of this dividend is Thursday, June 27th. Ares Commercial Real Estate’s payout ratio is 94.96%.
A number of institutional investors have recently modified their holdings of ACRE. LSV Asset Management increased its holdings in Ares Commercial Real Estate by 26.7% during the 1st quarter. LSV Asset Management now owns 268,986 shares of the real estate investment trust’s stock worth $4,085,000 after purchasing an additional 56,686 shares in the last quarter. Advisor Group Inc. bought a new stake in Ares Commercial Real Estate during the 4th quarter worth approximately $69,000. Bessemer Group Inc. increased its holdings in Ares Commercial Real Estate by 58.5% during the 4th quarter. Bessemer Group Inc. now owns 65,000 shares of the real estate investment trust’s stock worth $848,000 after purchasing an additional 24,000 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Ares Commercial Real Estate during the 4th quarter worth approximately $334,000. Finally, Metropolitan Life Insurance Co. NY increased its holdings in Ares Commercial Real Estate by 431.5% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,614 shares of the real estate investment trust’s stock worth $125,000 after purchasing an additional 7,805 shares in the last quarter. 67.21% of the stock is owned by institutional investors and hedge funds.
About Ares Commercial Real Estate
Ares Commercial Real Estate Corporation, a specialty finance company, originates and invests in commercial real estate loans and related investments in the United States. It provides a range of financing solutions for the owners, operators, and sponsors of commercial real estate (CRE) properties. The company originates senior mortgage loans, subordinate debt products, real estate preferred equity investments, mezzanine loans, and other CRE investments.
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