Ares Commercial Real Estate (NYSE:ACRE) Share Price Passes Above 200 Day Moving Average – What’s Next?

by · The Markets Daily

Ares Commercial Real Estate Corporation (NYSE:ACRE – Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.77 and traded as high as $5.11. Ares Commercial Real Estate shares last traded at $5.1550, with a volume of 416,259 shares traded.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. UBS Group raised their price target on shares of Ares Commercial Real Estate from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Friday, November 14th. Keefe, Bruyette & Woods upgraded shares of Ares Commercial Real Estate from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $4.75 to $5.50 in a research report on Monday, December 15th. Wall Street Zen raised shares of Ares Commercial Real Estate from a “strong sell” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Ares Commercial Real Estate in a report on Monday. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Ares Commercial Real Estate presently has a consensus rating of “Hold” and a consensus target price of $5.33.

Get Our Latest Stock Report on ACRE

Ares Commercial Real Estate Stock Down 0.6%

The stock has a market cap of $278.51 million, a P/E ratio of -33.74 and a beta of 1.27. The firm has a 50 day moving average price of $4.95 and a 200 day moving average price of $4.78.

Ares Commercial Real Estate (NYSE:ACRE – Get Free Report) last released its earnings results on Friday, November 7th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.17. Ares Commercial Real Estate had a negative net margin of 13.02% and a negative return on equity of 5.15%. The company had revenue of $5.63 million during the quarter, compared to analyst estimates of $11.35 million. Equities analysts predict that Ares Commercial Real Estate Corporation will post -0.34 earnings per share for the current fiscal year.

Ares Commercial Real Estate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 11.9%. The ex-dividend date is Wednesday, December 31st. Ares Commercial Real Estate’s dividend payout ratio (DPR) is presently -400.00%.

Institutional Investors Weigh In On Ares Commercial Real Estate

A number of institutional investors have recently bought and sold shares of ACRE. Private Advisor Group LLC grew its position in shares of Ares Commercial Real Estate by 9.0% during the third quarter. Private Advisor Group LLC now owns 41,019 shares of the real estate investment trust’s stock worth $185,000 after purchasing an additional 3,371 shares in the last quarter. CWM LLC boosted its stake in Ares Commercial Real Estate by 94.3% in the 2nd quarter. CWM LLC now owns 6,997 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 3,396 shares during the period. Voya Investment Management LLC grew its holdings in Ares Commercial Real Estate by 21.8% during the 1st quarter. Voya Investment Management LLC now owns 24,105 shares of the real estate investment trust’s stock valued at $112,000 after buying an additional 4,309 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Ares Commercial Real Estate by 456.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,033 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 4,948 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of Ares Commercial Real Estate by 6.5% during the second quarter. Rhumbline Advisers now owns 83,886 shares of the real estate investment trust’s stock valued at $400,000 after buying an additional 5,107 shares during the last quarter. Hedge funds and other institutional investors own 41.34% of the company’s stock.

About Ares Commercial Real Estate

(Get Free Report)

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.

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