B. Riley reissued their buy rating on shares of Ares Commercial Real Estate (NYSE:ACRE) in a research note issued to investors on Tuesday morning. They currently have a $14.00 price target on the real estate investment trust’s stock. B. Riley also issued estimates for Ares Commercial Real Estate’s Q4 2017 earnings at $0.22 EPS, FY2017 earnings at $1.07 EPS, Q1 2018 earnings at $0.30 EPS, Q2 2018 earnings at $0.30 EPS, FY2018 earnings at $1.21 EPS, Q1 2019 earnings at $0.31 EPS, Q2 2019 earnings at $0.31 EPS, Q3 2019 earnings at $0.32 EPS, Q4 2019 earnings at $0.32 EPS and FY2019 earnings at $1.25 EPS.
A number of other equities analysts also recently weighed in on ACRE. Zacks Investment Research downgraded shares of Ares Commercial Real Estate from a buy rating to a hold rating in a research note on Wednesday, January 3rd. BidaskClub raised shares of Ares Commercial Real Estate from a sell rating to a hold rating in a research note on Saturday, September 23rd. Finally, ValuEngine raised shares of Ares Commercial Real Estate from a hold rating to a buy rating in a research note on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $14.13.
Shares of Ares Commercial Real Estate (ACRE) traded down $0.04 during trading hours on Tuesday, reaching $12.89. 120,900 shares of the company’s stock traded hands, compared to its average volume of 113,543. Ares Commercial Real Estate has a 52 week low of $12.48 and a 52 week high of $14.22. The firm has a market cap of $369.67, a P/E ratio of 11.31, a P/E/G ratio of 1.52 and a beta of 0.69.
Ares Commercial Real Estate (NYSE:ACRE) last announced its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.11. Ares Commercial Real Estate had a net margin of 33.69% and a return on equity of 7.76%. The company had revenue of $28.55 million for the quarter, compared to the consensus estimate of $11.71 million. During the same period in the previous year, the business earned $0.31 EPS. equities analysts anticipate that Ares Commercial Real Estate will post 1.1 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 8.38%. The ex-dividend date is Thursday, December 28th. Ares Commercial Real Estate’s dividend payout ratio (DPR) is 94.74%.
A number of hedge funds have recently added to or reduced their stakes in the business. KAMES CAPITAL plc boosted its holdings in Ares Commercial Real Estate by 7.0% during the fourth quarter. KAMES CAPITAL plc now owns 282,225 shares of the real estate investment trust’s stock valued at $3,644,000 after acquiring an additional 18,369 shares during the period. Delphi Management Inc. MA bought a new stake in Ares Commercial Real Estate during the third quarter valued at about $850,000. California Public Employees Retirement System boosted its holdings in Ares Commercial Real Estate by 36.8% during the third quarter. California Public Employees Retirement System now owns 92,898 shares of the real estate investment trust’s stock valued at $1,236,000 after acquiring an additional 24,998 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Ares Commercial Real Estate during the third quarter valued at about $140,000. Finally, Beck Capital Management LLC bought a new stake in Ares Commercial Real Estate during the third quarter valued at about $783,000. Institutional investors own 63.19% of the company’s stock.
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About Ares Commercial Real Estate
Ares Commercial Real Estate Corporation is a specialty finance company. The Company is primarily engaged in originating and investing in commercial real estate (CRE) loans and related investments. The Company operates through principal lending segment. Its target investments include senior mortgage loans, subordinated debt, preferred equity, mezzanine loans and other CRE investment opportunities, including commercial mortgage-backed securities.
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