Ares Commercial Real Estate (NYSE:ACRE) Price Target Raised to $5.00

Ares Commercial Real Estate (NYSE:ACRE - Free Report) had its price objective raised by UBS Group from $3.75 to $5.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the real estate investment trust's stock.

Several other equities analysts have also recently issued reports on ACRE. JMP Securities restated a "market perform" rating on shares of Ares Commercial Real Estate in a research report on Monday, April 21st. JPMorgan Chase & Co. cut their price target on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a "neutral" rating for the company in a report on Thursday, February 13th. Finally, Keefe, Bruyette & Woods reduced their price objective on Ares Commercial Real Estate from $5.50 to $4.50 and set a "market perform" rating for the company in a report on Monday, April 7th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, Ares Commercial Real Estate currently has a consensus rating of "Hold" and a consensus price target of $5.50.

Ares Commercial Real Estate Stock Performance

NYSE:ACRE traded down $0.05 during mid-day trading on Wednesday, reaching $4.53. 599,192 shares of the stock were exchanged, compared to its average volume of 567,545. The company has a 50 day simple moving average of $4.28 and a 200-day simple moving average of $5.39. The stock has a market capitalization of $248.90 million, a P/E ratio of -6.96 and a beta of 1.27. Ares Commercial Real Estate has a 1 year low of $3.35 and a 1 year high of $7.99. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 13.26%. The ex-dividend date is Monday, June 30th. Ares Commercial Real Estate's dividend payout ratio (DPR) is -240.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Arlington Trust Co LLC acquired a new stake in shares of Ares Commercial Real Estate during the 1st quarter valued at approximately $28,000. Summit Securities Group LLC boosted its position in Ares Commercial Real Estate by 139.7% during the 4th quarter. Summit Securities Group LLC now owns 6,700 shares of the real estate investment trust's stock worth $39,000 after acquiring an additional 3,905 shares during the period. McIlrath & Eck LLC acquired a new position in Ares Commercial Real Estate during the 4th quarter worth $54,000. Brown Brothers Harriman & Co. bought a new position in Ares Commercial Real Estate in the 4th quarter valued at about $69,000. Finally, New York State Common Retirement Fund increased its stake in Ares Commercial Real Estate by 160.9% during 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 buying an additional 7,300 shares during the period. Hedge funds and other institutional investors 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.