Trading Report: Today, Ares Commercial Real Estate Corp. (ACRE) Given Average Recommendation of “Buy” from Brokerages

Today, Ares Commercial Real Estate Corp. (ACRE) Given Average Recommendation of “Buy” from Brokerages

Ares Commercial Real Estate Corp. (NYSE:ACRE) has been assigned a consensus recommendation of “Buy” from the seven analysts that are currently covering the firm. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $13.17.

ACRE has been the topic of a number of analyst reports. Zacks Investment Research downgraded Ares Commercial Real Estate Corp. from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 31st. Credit Suisse Group AG restated a “hold” rating and issued a $13.00 price target on shares of Ares Commercial Real Estate Corp. in a research note on Friday, September 9th. Citigroup Inc. lifted their price target on Ares Commercial Real Estate Corp. from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, August 11th. FBR & Co restated a “buy” rating and issued a $13.00 price target on shares of Ares Commercial Real Estate Corp. in a research note on Wednesday, September 14th. Finally, Bank of America Corp. reiterated a “buy” rating on shares of Ares Commercial Real Estate Corp. in a research report on Thursday, June 30th.

In other news, Director Caroline Blakely sold 3,200 shares of the business’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $12.46, for a total value of $39,872.00. Following the completion of the transaction, the director now directly owns 15,069 shares of the company’s stock, valued at $187,759.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert L. Rosen purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, September 14th. The stock was bought at an average cost of $12.35 per share, with a total value of $123,500.00. Following the completion of the acquisition, the chief executive officer now owns 50,013 shares of the company’s stock, valued at $617,660.55. The disclosure for this purchase can be found here. 1.60% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Telemus Capital LLC boosted its position in Ares Commercial Real Estate Corp. by 70.6% in the third quarter. Telemus Capital LLC now owns 221,325 shares of the company’s stock worth $2,789,000 after buying an additional 91,589 shares during the period. Relative Value Partners Group LLC boosted its position in Ares Commercial Real Estate Corp. by 19.7% in the second quarter. Relative Value Partners Group LLC now owns 143,516 shares of the company’s stock worth $1,764,000 after buying an additional 23,646 shares during the period. Panagora Asset Management Inc. boosted its position in Ares Commercial Real Estate Corp. by 125.3% in the second quarter. Panagora Asset Management Inc. now owns 9,593 shares of the company’s stock worth $118,000 after buying an additional 5,336 shares during the period. Parametric Portfolio Associates LLC boosted its position in Ares Commercial Real Estate Corp. by 11.7% in the second quarter. Parametric Portfolio Associates LLC now owns 95,885 shares of the company’s stock worth $1,178,000 after buying an additional 10,056 shares during the period. Finally, Menta Capital LLC boosted its position in Ares Commercial Real Estate Corp. by 39.4% in the second quarter. Menta Capital LLC now owns 20,571 shares of the company’s stock worth $253,000 after buying an additional 5,809 shares during the period. 66.24% of the stock is owned by institutional investors.

Ares Commercial Real Estate Corp. (NYSE:ACRE) traded up 1.110% on Tuesday, reaching $12.841. The company had a trading volume of 32,411 shares. The company has a market capitalization of $364.93 million, a PE ratio of 11.455 and a beta of 0.81. Ares Commercial Real Estate Corp. has a 52-week low of $8.91 and a 52-week high of $13.07. The company’s 50-day moving average is $12.59 and its 200-day moving average is $12.23.

Ares Commercial Real Estate Corp. (NYSE:ACRE) last announced its earnings results on Thursday, August 4th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.04. Ares Commercial Real Estate Corp. had a return on equity of 6.33% and a net margin of 40.58%. The company had revenue of $10.51 million for the quarter, compared to the consensus estimate of $20.10 million. During the same period last year, the business posted $0.31 EPS. The company’s revenue was down 14.6% on a year-over-year basis. Equities analysts anticipate that Ares Commercial Real Estate Corp. will post $1.13 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 17th. Stockholders of record on Friday, September 30th were issued a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 8.19%. Ares Commercial Real Estate Corp.’s dividend payout ratio (DPR) is 92.04%.

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