Ares Commercial Real Estate Co. (NYSE:ACRE) Given Consensus Recommendation of "Reduce" by Brokerages

Shares of Ares Commercial Real Estate Co. (NYSE:ACRE - Get Free Report) have received an average recommendation of "Reduce" from the six brokerages that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $5.19.

A number of brokerages have recently issued reports on ACRE. JPMorgan Chase & Co. dropped their target price on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a "neutral" rating on the stock in a report on Thursday, February 13th. Keefe, Bruyette & Woods dropped their price objective on shares of Ares Commercial Real Estate from $5.50 to $4.50 and set a "market perform" rating on the stock in a research report on Monday, April 7th. UBS Group lowered their price target on shares of Ares Commercial Real Estate from $5.25 to $3.75 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Ares Commercial Real Estate in a research report on Monday, April 21st.

Ares Commercial Real Estate Price Performance

NYSE:ACRE opened at $4.80 on Thursday. The company has a market cap of $264.02 million, a P/E ratio of -7.38 and a beta of 1.27. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.87 and a current ratio of 0.87. Ares Commercial Real Estate has a 52-week low of $3.35 and a 52-week high of $7.99. The stock's 50-day simple moving average is $4.29 and its 200 day simple moving average is $5.49.

Ares Commercial Real Estate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.60 annualized dividend and a dividend yield of 12.50%. Ares Commercial Real Estate's dividend payout ratio is presently -240.00%.

Institutional Investors Weigh In On Ares Commercial Real Estate

Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its position in shares of Ares Commercial Real Estate by 187.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 415,332 shares of the real estate investment trust's stock valued at $2,907,000 after acquiring an additional 270,791 shares during the period. Millennium Management LLC boosted its position in shares of Ares Commercial Real Estate by 505.7% during the 4th quarter. Millennium Management LLC now owns 316,969 shares of the real estate investment trust's stock worth $1,867,000 after acquiring an additional 264,641 shares in the last quarter. Delphi Financial Group Inc. acquired a new position in Ares Commercial Real Estate during the first quarter valued at approximately $995,000. Jane Street Group LLC boosted its holdings in shares of Ares Commercial Real Estate by 267.2% in the 4th quarter. Jane Street Group LLC now owns 263,571 shares of the real estate investment trust's stock valued at $1,552,000 after purchasing an additional 191,799 shares in the last quarter. Finally, ExodusPoint Capital Management LP acquired a new position in shares of Ares Commercial Real Estate during the 4th quarter worth $891,000. 41.34% of the stock is currently owned by institutional investors.

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.

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