Ares Commercial Real Estate (NYSE:ACRE - Free Report) had its price objective decreased by Keefe, Bruyette & Woods from $4.80 to $4.25 in a report issued on Wednesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the real estate investment trust's stock.
Several other research analysts have also commented on ACRE. UBS Group lifted their price target on Ares Commercial Real Estate from $3.75 to $5.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 21st. JMP Securities reaffirmed a "market perform" rating on shares of Ares Commercial Real Estate in a research note on Monday, April 21st. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, Ares Commercial Real Estate has an average rating of "Hold" and an average target price of $5.31.
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Ares Commercial Real Estate Price Performance
Shares of ACRE stock traded down $0.10 during trading hours on Wednesday, hitting $4.36. The stock had a trading volume of 508,427 shares, compared to its average volume of 460,786. Ares Commercial Real Estate has a one year low of $3.35 and a one year high of $7.83. The stock's 50-day moving average price is $4.71 and its two-hundred day moving average price is $4.69. The stock has a market capitalization of $239.57 million, a price-to-earnings ratio of -12.81, a PEG ratio of 1.74 and a beta of 1.33.
Ares Commercial Real Estate Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 13.8%. The ex-dividend date of this dividend is Tuesday, September 30th. Ares Commercial Real Estate's dividend payout ratio (DPR) is -176.47%.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the business. Samalin Investment Counsel LLC lifted its stake in Ares Commercial Real Estate by 5.6% in the 2nd quarter. Samalin Investment Counsel LLC now owns 142,720 shares of the real estate investment trust's stock worth $681,000 after purchasing an additional 7,605 shares in the last quarter. Penserra Capital Management LLC lifted its stake in Ares Commercial Real Estate by 44.5% in the 2nd quarter. Penserra Capital Management LLC now owns 226,919 shares of the real estate investment trust's stock worth $1,082,000 after purchasing an additional 69,881 shares in the last quarter. Access Investment Management LLC purchased a new position in Ares Commercial Real Estate in the 2nd quarter worth approximately $409,000. CWM LLC lifted its stake in Ares Commercial Real Estate by 94.3% in the 2nd quarter. CWM LLC now owns 6,997 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 3,396 shares in the last quarter. Finally, Inspire Investing LLC lifted its stake in Ares Commercial Real Estate by 10.8% in the 2nd quarter. Inspire Investing LLC now owns 82,402 shares of the real estate investment trust's stock worth $393,000 after purchasing an additional 8,048 shares in the last quarter. 41.34% of the stock is owned by hedge funds and other institutional investors.
About Ares Commercial Real Estate
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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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