Ares Commercial Real Estate Corporation (NYSE:ACRE) Plans $0.15 Quarterly Dividend

Ares Commercial Real Estate Corporation (NYSE:ACREGet Free Report) announced a quarterly dividend on Thursday, May 7th. Investors of record on Tuesday, June 30th will be given a dividend of 0.15 per share by the real estate investment trust on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a dividend yield of 11.8%. The ex-dividend date is Tuesday, June 30th.

Ares Commercial Real Estate has decreased its dividend by an average of 0.1%per year over the last three years. Ares Commercial Real Estate has a payout ratio of 260.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Ares Commercial Real Estate to earn $0.56 per share next year, which means the company may not be able to cover its $0.60 annual dividend with an expected future payout ratio of 107.1%.

Ares Commercial Real Estate Stock Down 3.0%

Shares of NYSE:ACRE opened at $5.07 on Friday. The company has a market cap of $280.45 million, a PE ratio of -253.25 and a beta of 1.18. The company’s 50-day moving average price is $5.03 and its 200 day moving average price is $5.01. Ares Commercial Real Estate has a fifty-two week low of $4.05 and a fifty-two week high of $5.89.

Ares Commercial Real Estate Company Profile

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Ares Commercial Real Estate Corporation (NYSE: ACRE) is a publicly traded real estate investment trust (REIT) primarily focused on commercial real estate debt investments. Externally managed by an affiliate of Ares Management Corporation, ACRE seeks to generate attractive risk-adjusted returns through its diversified portfolio of CRE financing strategies. The company specializes in originating, acquiring, financing and managing first mortgages, mezzanine loans, preferred equity and other structured finance products.

Since its inception, Ares Commercial Real Estate has targeted a broad range of property types, including multifamily, office, industrial, retail and hospitality assets.

See Also

Dividend History for Ares Commercial Real Estate (NYSE:ACRE)

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