Ares Commercial Real Estate Corporation (NYSE:ACRE) Shares Will Pay Quarterly Dividend of $0.15

Ares Commercial Real Estate Corporation (NYSE:ACRE) announced a quarterly dividend on Friday, November 6th. Stockholders of record on Thursday, December 31st will be paid a dividend of $0.15 per share by the real estate investment trust on Friday, January 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 16.4%. The ex-dividend date is Thursday, December 31st.

Ares Commercial Real Estate has decreased its dividend by an average of 0.1% annually 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. Equities research analysts expect Ares Commercial Real Estate to earn $0.54 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 111.1%.

Ares Commercial Real Estate Stock Up 7.5%

Shares of ACRE traded up $0.26 during mid-day trading on Friday, hitting $3.65. 1,360,510 shares of the company’s stock traded hands, compared to its average volume of 495,138. Ares Commercial Real Estate has a 1 year low of $3.16 and a 1 year high of $5.89. The firm has a market capitalization of $202.78 million, a P/E ratio of -45.69 and a beta of 1.22. The business’s 50-day moving average price is $3.91 and its 200-day moving average price is $4.63.

Ares Commercial Real Estate (NYSE:ACRE) last announced its quarterly earnings results on Friday, November 6th. The real estate investment trust reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.08. Ares Commercial Real Estate had a positive return on equity of 4.08% and a negative net margin of 8.04%. Sell-side analysts anticipate that Ares Commercial Real Estate will post 0.39 earnings per share for the current fiscal year.

About Ares Commercial Real Estate

Ares Commercial Real Estate Corporation is a specialty finance company organized as a real estate investment trust (REIT). The company originates and invests in commercial real estate loans, with a primary focus on senior mortgage loans secured by properties in the United States.

Its investment portfolio may include loans backed by multifamily, office, industrial, retail, hotel and other commercial properties. Ares Commercial Real Estate generally targets transitional and other commercial real estate assets that require financing for acquisition, redevelopment, renovation or repositioning.