Ares Commercial Real Estate Corporation (NYSE:ACRE) Receives $5.33 Consensus Target Price from Analysts

Shares of Ares Commercial Real Estate Corporation (NYSE:ACRE) have received a consensus rating of “Reduce” from the six research firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $5.3333.

A number of analysts have weighed in on ACRE shares. Wall Street Zen raised Ares Commercial Real Estate from a “strong sell” rating to a “hold” rating in a research report on Saturday, November 15th. Wells Fargo & Company increased their price target on Ares Commercial Real Estate from $4.00 to $5.00 and gave the stock an “underweight” rating in a report on Thursday, February 12th. Weiss Ratings reissued a “sell (d+)” rating on shares of Ares Commercial Real Estate in a research note on Monday, December 29th. UBS Group upped their price objective on shares of Ares Commercial Real Estate from $4.50 to $5.00 and gave the stock a “neutral” rating in a research report on Friday, November 14th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Ares Commercial Real Estate from $5.50 to $6.00 and gave the company an “outperform” rating in a report on Wednesday, February 11th.

Ares Commercial Real Estate Stock Performance

Shares of ACRE opened at $5.11 on Friday. Ares Commercial Real Estate has a fifty-two week low of $3.35 and a fifty-two week high of $5.89. The company has a market capitalization of $282.66 million, a price-to-earnings ratio of -255.25, a price-to-earnings-growth ratio of 0.27 and a beta of 1.26. The firm has a 50-day simple moving average of $5.09 and a 200-day simple moving average of $4.86.

Ares Commercial Real Estate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.15 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.60 annualized dividend and a yield of 11.8%. Ares Commercial Real Estate’s payout ratio is presently -3,000.00%.

Insider Transactions at Ares Commercial Real Estate

In other Ares Commercial Real Estate news, CEO Bryan Patrick Donohoe sold 21,761 shares of the stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $4.93, for a total value of $107,281.73. Following the completion of the transaction, the chief executive officer owned 250,197 shares in the company, valued at approximately $1,233,471.21. This represents a 8.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jeffrey Michael Gonzales sold 6,218 shares of the firm’s stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $4.93, for a total value of $30,654.74. Following the completion of the sale, the chief financial officer directly owned 88,533 shares of the company’s stock, valued at approximately $436,467.69. This trade represents a 6.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 35,585 shares of company stock valued at $175,434. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Ares Commercial Real Estate

Large investors have recently made changes to their positions in the stock. North Ground Capital acquired a new position in Ares Commercial Real Estate during the third quarter worth about $5,222,000. Penserra Capital Management LLC boosted its stake in shares of Ares Commercial Real Estate by 44.5% during the 2nd quarter. Penserra Capital Management LLC now owns 226,919 shares of the real estate investment trust’s stock worth $1,082,000 after acquiring an additional 69,881 shares in the last quarter. Access Investment Management LLC acquired a new stake in shares of Ares Commercial Real Estate in the 2nd quarter worth approximately $409,000. BI Asset Management Fondsmaeglerselskab A S increased its stake in Ares Commercial Real Estate by 24.4% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 564,209 shares of the real estate investment trust’s stock valued at $2,545,000 after purchasing an additional 110,505 shares in the last quarter. Finally, Corient Private Wealth LLC acquired a new position in Ares Commercial Real Estate during the second quarter worth $66,000. Hedge funds and other institutional investors own 41.34% of the company’s stock.

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.