$0.29 EPS Expected for Ares Commercial Real (ACRE) This Quarter

Wall Street brokerages expect Ares Commercial Real (NYSE:ACRE) to report earnings of $0.29 per share for the current quarter, Zacks reports. Zero analysts have issued estimates for Ares Commercial Real’s earnings. Ares Commercial Real reported earnings of $0.24 per share in the same quarter last year, which indicates a positive year over year growth rate of 20.8%. The company is expected to announce its next quarterly earnings report on Tuesday, May 1st.

According to Zacks, analysts expect that Ares Commercial Real will report full year earnings of $1.24 per share for the current fiscal year, with EPS estimates ranging from $1.20 to $1.27. For the next year, analysts forecast that the company will post earnings of $1.24 per share, with EPS estimates ranging from $1.23 to $1.25. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover Ares Commercial Real.

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Ares Commercial Real (NYSE:ACRE) last released its earnings results on Thursday, March 1st. The real estate investment trust reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.02. The firm had revenue of $25.22 million for the quarter, compared to analysts’ expectations of $11.35 million. Ares Commercial Real had a return on equity of 7.54% and a net margin of 31.17%. During the same quarter in the previous year, the business posted $0.28 EPS.

Separately, Zacks Investment Research cut Ares Commercial Real from a “buy” rating to a “hold” rating in a research note on Tuesday, April 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $14.13.

In other Ares Commercial Real news, Director William Stephen Benjamin purchased 12,715 shares of the company’s stock in a transaction that occurred on Wednesday, March 7th. The shares were acquired at an average price of $12.32 per share, for a total transaction of $156,648.80. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.75% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Edge Wealth Management LLC raised its stake in Ares Commercial Real by 40.0% in the 4th quarter. Edge Wealth Management LLC now owns 14,000 shares of the real estate investment trust’s stock valued at $181,000 after acquiring an additional 4,000 shares during the period. Wells Fargo & Company MN grew its holdings in Ares Commercial Real by 1.5% in the 4th quarter. Wells Fargo & Company MN now owns 400,619 shares of the real estate investment trust’s stock valued at $5,168,000 after buying an additional 5,799 shares in the last quarter. SG Americas Securities LLC acquired a new position in Ares Commercial Real in the 3rd quarter valued at $103,000. Atria Investments LLC acquired a new position in Ares Commercial Real in the 4th quarter valued at $132,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Ares Commercial Real in the 3rd quarter valued at $140,000. Institutional investors and hedge funds own 63.98% of the company’s stock.

NYSE ACRE traded up $0.05 during trading on Friday, hitting $12.42. The stock had a trading volume of 70,342 shares, compared to its average volume of 118,308. The stock has a market capitalization of $353.48, a price-to-earnings ratio of 11.14 and a beta of 0.60. Ares Commercial Real has a 12 month low of $11.96 and a 12 month high of $14.22.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 17th. Stockholders of record on Thursday, March 29th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, March 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 9.02%. This is a boost from Ares Commercial Real’s previous quarterly dividend of $0.27. Ares Commercial Real’s dividend payout ratio is currently 100.90%.

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Ares Commercial Real Company Profile

Ares Commercial Real Estate Corporation, a specialty finance company, originates and invests in commercial real estate loans and related investments in the United States. It provides a range of financing solutions for the owners, operators, and sponsors of commercial real estate (CRE) properties. The company originates senior mortgage loans, subordinate debt products, mezzanine loans, real estate preferred equity investments, and other CRE investments.

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Earnings History and Estimates for Ares Commercial Real (NYSE:ACRE)

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