Ares Commercial Real Estate Co. (NYSE:ACRE) Receives Consensus Recommendation of "Reduce" from Brokerages
Ares Commercial Real Estate Co. (NYSE:ACRE - Get Free Report) has been assigned a consensus rating of "Reduce" from the six research firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $5.81.
ACRE has been the subject of a number of analyst reports. StockNews.com raised Ares Commercial Real Estate from a "sell" rating to a "hold" rating in a research report on Tuesday, December 17th. Keefe, Bruyette & Woods lowered their price target on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a "market perform" rating for the company in a report on Thursday, February 13th. UBS Group dropped their price objective on shares of Ares Commercial Real Estate from $6.00 to $5.25 and set a "neutral" rating on the stock in a research report on Tuesday, February 25th. JMP Securities reaffirmed a "market perform" rating on shares of Ares Commercial Real Estate in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. dropped their target price on Ares Commercial Real Estate from $6.00 to $5.50 and set a "neutral" rating on the stock in a report on Thursday, February 13th.
Get Our Latest Stock Report on Ares Commercial Real Estate
In other Ares Commercial Real Estate news, VP Anton Feingold sold 7,615 shares of Ares Commercial Real Estate stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $5.68, for a total value of $43,253.20. Following the transaction, the vice president now directly owns 78,360 shares in the company, valued at approximately $445,084.80. This trade represents a 8.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.80% of the company's stock.
Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in Ares Commercial Real Estate by 187.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 415,332 shares of the real estate investment trust's stock valued at $2,907,000 after buying an additional 270,791 shares during the period. Geode Capital Management LLC raised its holdings in Ares Commercial Real Estate by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,272,163 shares of the real estate investment trust's stock worth $8,907,000 after purchasing an additional 16,309 shares in the last quarter. Van ECK Associates Corp raised its holdings in Ares Commercial Real Estate by 19.5% during the fourth quarter. Van ECK Associates Corp now owns 591,036 shares of the real estate investment trust's stock worth $3,481,000 after purchasing an additional 96,551 shares in the last quarter. FMR LLC lifted its position in Ares Commercial Real Estate by 211.0% in the third quarter. FMR LLC now owns 7,741 shares of the real estate investment trust's stock valued at $54,000 after purchasing an additional 5,252 shares during the period. Finally, State Street Corp boosted its holdings in Ares Commercial Real Estate by 2.3% in the 3rd quarter. State Street Corp now owns 1,052,314 shares of the real estate investment trust's stock valued at $7,627,000 after purchasing an additional 23,845 shares in the last quarter. 41.34% of the stock is owned by institutional investors and hedge funds.
ACRE opened at $4.77 on Wednesday. The business has a fifty day moving average price of $5.26 and a 200 day moving average price of $6.22. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.87 and a quick ratio of 0.87. Ares Commercial Real Estate has a 12 month low of $4.61 and a 12 month high of $7.99. The stock has a market capitalization of $261.67 million, a price-to-earnings ratio of -7.34 and a beta of 1.57.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 12.58%. The ex-dividend date of this dividend is Monday, March 31st. Ares Commercial Real Estate's payout ratio is currently -92.31%.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Ares Commercial Real Estate, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ares Commercial Real Estate wasn't on the list.
While Ares Commercial Real Estate currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
