Brokerages Set Ares Commercial Real Estate Corporation (NYSE:ACRE) Target Price at $5.25

Shares of Ares Commercial Real Estate Corporation (NYSE:ACRE) have received a consensus rating of “Reduce” from the six research firms that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $5.25.

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Ares Commercial Real Estate from $4.00 to $5.00 and gave the stock an “underweight” rating in a research report on Thursday, February 12th. JPMorgan Chase & Co. reduced 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 research report on Thursday, April 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of Ares Commercial Real Estate in a research note on Monday, May 11th. Wall Street Zen downgraded shares of Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Zacks Research lowered shares of Ares Commercial Real Estate from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 26th.

Institutional Trading of Ares Commercial Real Estate

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. LPL Financial LLC lifted its position in Ares Commercial Real Estate by 8.9% during the 4th quarter. LPL Financial LLC now owns 27,950 shares of the real estate investment trust’s stock worth $134,000 after acquiring an additional 2,284 shares during the period. Private Advisor Group LLC increased its holdings in shares of Ares Commercial Real Estate by 9.0% in the third quarter. Private Advisor Group LLC now owns 41,019 shares of the real estate investment trust’s stock valued at $185,000 after purchasing an additional 3,371 shares during the period. HRT Financial LP increased its holdings in shares of Ares Commercial Real Estate by 36.0% in the fourth quarter. HRT Financial LP now owns 16,790 shares of the real estate investment trust’s stock valued at $80,000 after purchasing an additional 4,445 shares during the period. Evoke Wealth LLC raised its stake in shares of Ares Commercial Real Estate by 2.2% during the fourth quarter. Evoke Wealth LLC now owns 232,262 shares of the real estate investment trust’s stock worth $1,145,000 after purchasing an additional 4,936 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Ares Commercial Real Estate by 456.0% during the third quarter. Russell Investments Group Ltd. now owns 6,033 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 4,948 shares during the last quarter. 41.34% of the stock is owned by hedge funds and other institutional investors.

Ares Commercial Real Estate Stock Up 0.1%

NYSE:ACRE opened at $4.95 on Monday. The company has a market capitalization of $274.35 million, a PE ratio of -13.74 and a beta of 1.15. Ares Commercial Real Estate has a 52-week low of $4.05 and a 52-week high of $5.89. The stock’s 50 day moving average price is $4.97 and its 200 day moving average price is $5.04.

Ares Commercial Real Estate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 12.1%. Ares Commercial Real Estate’s dividend payout ratio (DPR) is currently -166.67%.

About Ares Commercial Real Estate

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.