Ares Commercial Real Estate Corporation (NYSE:ACRE - Get Free Report)'s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.96 and traded as high as $5.27. Ares Commercial Real Estate shares last traded at $5.2090, with a volume of 323,556 shares changing hands.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the company. Weiss Ratings restated a "sell (d+)" rating on shares of Ares Commercial Real Estate in a research note on Monday, December 29th. JPMorgan Chase & Co. lowered their price objective on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a "neutral" rating on the stock in a research report on Thursday, April 16th. Wells Fargo & Company lifted their price objective on shares of Ares Commercial Real Estate from $4.00 to $5.00 and gave the company an "underweight" rating in a research note on Thursday, February 12th. Keefe, Bruyette & Woods upped their target price on shares of Ares Commercial Real Estate from $5.50 to $6.00 and gave the company an "outperform" rating in a report on Wednesday, February 11th. Finally, Zacks Research downgraded shares of Ares Commercial Real Estate from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus price target of $5.38.
View Our Latest Stock Report on ACRE
Ares Commercial Real Estate Trading Down 2.3%
The firm has a market cap of $288.42 million, a PE ratio of -260.45 and a beta of 1.20. The company has a 50 day moving average price of $5.02 and a 200 day moving average price of $4.96.
Ares Commercial Real Estate Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 11.5%. The ex-dividend date of this dividend was Tuesday, March 31st. Ares Commercial Real Estate's dividend payout ratio is presently -3,000.00%.
Hedge Funds Weigh In On Ares Commercial Real Estate
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC acquired a new position in shares of Ares Commercial Real Estate during the 1st quarter worth approximately $129,000. Acadian Asset Management LLC acquired a new stake in shares of Ares Commercial Real Estate during the first quarter valued at $166,000. Strs Ohio acquired a new stake in shares of Ares Commercial Real Estate during the first quarter valued at $47,000. Rhumbline Advisers increased its position in Ares Commercial Real Estate by 6.5% during the 2nd quarter. Rhumbline Advisers now owns 83,886 shares of the real estate investment trust's stock worth $400,000 after purchasing an additional 5,107 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new stake in shares of Ares Commercial Real Estate during the 2nd quarter worth about $187,000. Institutional investors and hedge funds own 41.34% of the company's stock.
Ares Commercial Real Estate Company Profile
(
Get Free Report)
Ares Commercial Real Estate Corporation NYSE: ACRE is a publicly traded real estate investment trust (REIT) primarily focused on commercial real estate debt investments. Externally managed by an affiliate of Ares Management Corporation, ACRE seeks to generate attractive risk-adjusted returns through its diversified portfolio of CRE financing strategies. The company specializes in originating, acquiring, financing and managing first mortgages, mezzanine loans, preferred equity and other structured finance products.
Since its inception, Ares Commercial Real Estate has targeted a broad range of property types, including multifamily, office, industrial, retail and hospitality assets.
Further Reading
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