Ares Commercial Real Estate Co. (NYSE:ACRE) Receives $16.25 Average Target Price from Brokerages

Shares of Ares Commercial Real Estate Co. (NYSE:ACRE) have earned a consensus rating of “Buy” from the six research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $16.25.

ACRE has been the topic of a number of research reports. JMP Securities boosted their price objective on Ares Commercial Real Estate from $16.50 to $17.00 and gave the company a “market outperform” rating in a research note on Thursday, November 4th. Zacks Investment Research upgraded Ares Commercial Real Estate from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Tuesday, November 16th. Finally, BTIG Research restated a “buy” rating and issued a $16.50 price objective on shares of Ares Commercial Real Estate in a research note on Friday, November 12th.

Shares of NYSE:ACRE traded down $0.03 during midday trading on Thursday, reaching $15.45. The company had a trading volume of 263,574 shares, compared to its average volume of 474,744. The company’s 50 day moving average price is $15.57 and its 200 day moving average price is $15.36. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 2.55. The stock has a market cap of $726.18 million, a P/E ratio of 10.16 and a beta of 1.30. Ares Commercial Real Estate has a 52-week low of $11.08 and a 52-week high of $16.98.

Ares Commercial Real Estate (NYSE:ACRE) last issued its quarterly earnings results on Wednesday, November 3rd. The real estate investment trust reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.03. Ares Commercial Real Estate had a net margin of 61.95% and a return on equity of 9.74%. During the same period in the prior year, the company posted $0.30 EPS. Research analysts forecast that Ares Commercial Real Estate will post 1.47 EPS for the current fiscal year.

The business also recently declared a Not Available dividend, which will be paid on Wednesday, January 19th. Stockholders of record on Friday, December 31st will be given a dividend of $0.35 per share. This represents a dividend yield of 8.6%. The ex-dividend date is Thursday, December 30th. Ares Commercial Real Estate’s dividend payout ratio is presently 86.84%.

Several institutional investors and hedge funds have recently made changes to their positions in ACRE. Bank of New York Mellon Corp increased its position in shares of Ares Commercial Real Estate by 6.2% during the first quarter. Bank of New York Mellon Corp now owns 155,978 shares of the real estate investment trust’s stock valued at $2,140,000 after buying an additional 9,071 shares during the period. Barclays PLC increased its position in shares of Ares Commercial Real Estate by 162.8% in the first quarter. Barclays PLC now owns 26,095 shares of the real estate investment trust’s stock worth $358,000 after purchasing an additional 16,165 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Ares Commercial Real Estate in the first quarter worth approximately $170,000. Nuveen Asset Management LLC increased its position in shares of Ares Commercial Real Estate by 166.9% in the first quarter. Nuveen Asset Management LLC now owns 416,965 shares of the real estate investment trust’s stock worth $5,721,000 after purchasing an additional 260,747 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its position in shares of Ares Commercial Real Estate by 27.2% in the first quarter. Great West Life Assurance Co. Can now owns 23,709 shares of the real estate investment trust’s stock worth $324,000 after purchasing an additional 5,074 shares during the last quarter. Hedge funds and other institutional investors own 56.03% of the company’s stock.

About Ares Commercial Real Estate

Ares Commercial Real Estate Corp. engages in originating and investing in commercial real estate loans and related investments. The Company’s investments include senior mortgage loans, subordinated debt, preferred equity, mezzanine loans and other commercial real estate investments, including commercial mortgage backed securities, which are secured, directly or indirectly, by office, multifamily, retail, industrial, lodging, senior-living, self storage, student housing and other commercial real estate properties, or by ownership interests.

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Analyst Recommendations for Ares Commercial Real Estate (NYSE:ACRE)

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