Brokerages Set Ares Commercial Real Estate Corporation (NYSE:ACRE) Target Price at $5.31

Key Points

• Ares Commercial Real Estate Corporation (NYSE:ACRE) has received an average rating of "Reduce" from brokerages, with one sell rating and five hold ratings from analysts.
• UBS Group lowered its price target for ACRE shares from $5.00 to $4.50, while Zacks Research upgraded it to a "hold" rating.
• The company announced a quarterly dividend of $0.15 per share, yielding 12.9%, with record investors expected to receive it on October 15th.

Ares Commercial Real Estate Corporation (NYSE:ACRE - Get Free Report) has received a consensus rating of "Reduce" from the six brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $5.3125.

Several brokerages have issued reports on ACRE. Zacks Research raised Ares Commercial Real Estate to a "hold" rating in a research report on Monday, August 11th. UBS Group dropped their target price on Ares Commercial Real Estate from $5.00 to $4.50 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Keefe, Bruyette & Woods dropped their target price on Ares Commercial Real Estate from $4.80 to $4.25 and set a "market perform" rating on the stock in a research report on Wednesday, August 6th. Finally, Wall Street Zen cut Ares Commercial Real Estate from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 9th.

Ares Commercial Real Estate Price Performance

NYSE ACRE traded up $0.05 during midday trading on Friday, hitting $4.68. 399,696 shares of the company traded hands, compared to its average volume of 490,315. The company has a market cap of $257.17 million, a PE ratio of -13.75 and a beta of 1.33. The company's 50-day simple moving average is $4.62 and its 200-day simple moving average is $4.58. Ares Commercial Real Estate has a 52 week low of $3.35 and a 52 week high of $7.83.

Ares Commercial Real Estate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 12.8%. Ares Commercial Real Estate's dividend payout ratio (DPR) is presently -176.47%.

Institutional Trading of Ares Commercial Real Estate

Institutional investors have recently made changes to their positions in the business. Jane Street Group LLC boosted its position 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 worth $1,552,000 after purchasing an additional 191,799 shares in the last quarter. Millennium Management LLC boosted its position in shares of Ares Commercial Real Estate by 505.7% in the 4th quarter. Millennium Management LLC now owns 316,969 shares of the real estate investment trust's stock worth $1,867,000 after purchasing an additional 264,641 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Ares Commercial Real Estate by 82.9% in the 4th quarter. Deutsche Bank AG now owns 65,072 shares of the real estate investment trust's stock worth $383,000 after purchasing an additional 29,498 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Ares Commercial Real Estate by 2.7% in the 1st quarter. Victory Capital Management Inc. now owns 124,250 shares of the real estate investment trust's stock worth $575,000 after purchasing an additional 3,250 shares in the last quarter. Finally, Delphi Financial Group Inc. acquired a new stake in shares of Ares Commercial Real Estate in the 1st quarter worth $995,000. Institutional investors and hedge funds own 41.34% of the company's stock.

About Ares Commercial Real Estate

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.