Ares Commercial Real Estate’s (ACRE) Sell (D) Rating Reiterated at Weiss Ratings

Weiss Ratings reaffirmed their sell (d) rating on shares of Ares Commercial Real Estate (NYSE:ACRE) in a research report report published on Wednesday,Weiss Ratings reports.

ACRE has been the topic of a number of other research reports. Zacks Research raised Ares Commercial Real Estate to a “hold” rating in a report on Monday, August 11th. Wall Street Zen cut Ares Commercial Real Estate from a “hold” rating to a “strong sell” rating in a report on Saturday, August 9th. Keefe, Bruyette & Woods cut their price target on Ares Commercial Real Estate from $4.80 to $4.25 and set a “market perform” rating on the stock in a report on Wednesday, August 6th. Finally, UBS Group cut their price target on Ares Commercial Real Estate from $5.00 to $4.50 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Five research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Ares Commercial Real Estate presently has a consensus rating of “Reduce” and an average target price of $4.83.

Ares Commercial Real Estate Trading Down 0.2%

ACRE opened at $4.42 on Wednesday. The business’s 50 day moving average is $4.63 and its 200-day moving average is $4.54. The stock has a market cap of $243.14 million, a PE ratio of -13.00 and a beta of 1.32. Ares Commercial Real Estate has a twelve month low of $3.35 and a twelve month high of $7.49.

Ares Commercial Real Estate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a $0.15 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.60 annualized dividend and a yield of 13.6%. Ares Commercial Real Estate’s payout ratio is -176.47%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Corient Private Wealth LLC acquired a new position in Ares Commercial Real Estate in the second quarter worth approximately $66,000. State of Wyoming acquired a new position in Ares Commercial Real Estate in the second quarter worth approximately $59,000. BI Asset Management Fondsmaeglerselskab A S grew its position in Ares Commercial Real Estate by 8.0% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 453,704 shares of the real estate investment trust’s stock worth $2,164,000 after buying an additional 33,764 shares during the last quarter. Bank of America Corp DE grew its position in Ares Commercial Real Estate by 32.8% in the second quarter. Bank of America Corp DE now owns 118,702 shares of the real estate investment trust’s stock worth $566,000 after buying an additional 29,333 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in Ares Commercial Real Estate by 2.8% in the second quarter. Ameriprise Financial Inc. now owns 226,143 shares of the real estate investment trust’s stock worth $1,079,000 after buying an additional 6,100 shares during the last quarter. Institutional investors and hedge funds own 41.34% of the company’s stock.

About Ares Commercial Real Estate

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