Ares Commercial Real Estate Co. (NYSE:ACRE) has received a consensus recommendation of “Hold” from six research firms covering the company. Of the six analysts, four have rated the stock as hold and two have issued a buy recommendation. The average 12-month price target among these analysts is $11.79.
Notable brokerages have also weighed in on ACRE. JMP Securities increased their price target on Ares Commercial Real Estate from $11.00 to $11.50 and gave the stock an “outperform” rating. Conversely, Raymond James lowered their rating from “outperform” to “market perform.” JPMorgan Chase & Co. raised their price target on the stock as well.
Shares of ACRE opened at $10.07 on Tuesday. The company’s 50-day moving average is $10.32, and its 200-day moving average is $9.81. With a market capitalization of $545.19 million, Ares Commercial Real Estate has a P/E ratio of -100.69 and a beta of 1.39. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.36, and a current ratio of 1.36. The 52-week range for the stock is between $7.52 and $13.75.
Ares Commercial Real Estate has recently announced a quarterly dividend of $0.33, which will be paid on October 17th to shareholders of record as of September 29th. The ex-dividend date is September 28th. The dividend represents an annualized yield of 13.11%, and the company’s dividend payout ratio (DPR) is at -1,319.87%.
A number of institutional investors have recently bought and sold shares of ACRE. Raymond James Financial Services Advisors Inc. increased their holdings by 26.2% in the first quarter. Clear Street Markets LLC also acquired a stake in Ares Commercial Real Estate during the fourth quarter. New York Life Investment Management LLC and Claybrook Capital LLC both grew their stakes as well.
Ares Commercial Real Estate Corporation is a specialty finance company that originates and invests in commercial real estate loans and related investments in the United States. The company provides financing solutions for owners, operators, and sponsors of commercial real estate properties, including senior mortgage loans, subordinate debt and preferred equity products, mezzanine loans, and commercial mortgage-backed securities.