Ares Commercial Real Estate's (ACRE) "Market Perform" Rating Reiterated at JMP Securities

JMP Securities reiterated their market perform rating on shares of Ares Commercial Real Estate (NYSE:ACRE - Free Report) in a report published on Monday,Benzinga reports.

Other equities research analysts also recently issued research reports about the stock. 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 note on Thursday, February 13th. Keefe, Bruyette & Woods decreased their price target 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. Finally, UBS Group cut their price objective on shares of Ares Commercial Real Estate from $5.25 to $3.75 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company's stock. Based on data from MarketBeat.com, Ares Commercial Real Estate currently has an average rating of "Hold" and a consensus price target of $5.19.

Ares Commercial Real Estate Stock Performance

NYSE:ACRE remained flat at $3.82 during mid-day trading on Monday. The company had a trading volume of 391,159 shares, compared to its average volume of 564,379. The company has a market capitalization of $209.55 million, a price-to-earnings ratio of -5.88 and a beta of 1.22. The firm's 50 day moving average price is $4.41 and its 200 day moving average price is $5.68. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.17. Ares Commercial Real Estate has a 1 year low of $3.35 and a 1 year high of $7.99.

Ares Commercial Real Estate Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 15.71%. The ex-dividend date of this dividend was Monday, March 31st. Ares Commercial Real Estate's dividend payout ratio (DPR) is presently -92.31%.

Insiders Place Their Bets

In other Ares Commercial Real Estate news, VP Anton Feingold sold 7,615 shares of Ares Commercial Real Estate stock in a transaction on Friday, January 31st. The stock was sold at an average price of $5.68, for a total transaction of $43,253.20. Following the completion of the transaction, the vice president now directly owns 78,360 shares of the company's stock, valued at approximately $445,084.80. This trade represents a 8.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.80% of the company's stock.

Hedge Funds Weigh In On Ares Commercial Real Estate

Several institutional investors have recently added to or reduced their stakes in the company. Summit Securities Group LLC increased its holdings in shares of Ares Commercial Real Estate by 139.7% during the fourth quarter. Summit Securities Group LLC now owns 6,700 shares of the real estate investment trust's stock worth $39,000 after buying an additional 3,905 shares in the last quarter. FMR LLC grew its position in Ares Commercial Real Estate by 211.0% during the 3rd quarter. FMR LLC now owns 7,741 shares of the real estate investment trust's stock worth $54,000 after acquiring an additional 5,252 shares during the last quarter. McIlrath & Eck LLC acquired a new stake in Ares Commercial Real Estate during the 4th quarter valued at $54,000. Brown Brothers Harriman & Co. bought a new position in Ares Commercial Real Estate in the 4th quarter valued at $69,000. Finally, New York State Common Retirement Fund raised its position in Ares Commercial Real Estate by 160.9% in the 4th quarter. New York State Common Retirement Fund now owns 11,838 shares of the real estate investment trust's stock valued at $70,000 after purchasing an additional 7,300 shares during the last quarter. 41.34% of the stock is owned by institutional investors.

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.