Ares Commercial Real Estate (NYSE:ACRE) Given “Market Perform” Rating at JMP Securities

JMP Securities reaffirmed their market perform rating on shares of Ares Commercial Real Estate (NYSE:ACRE) in a research note released on Thursday,Benzinga reports.

A number of other equities analysts also recently weighed in on the stock. StockNews.com raised shares of Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research note on Tuesday, December 17th. JPMorgan Chase & Co. dropped their price objective on shares of Ares Commercial Real Estate from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Tuesday, January 21st. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Ares Commercial Real Estate from $7.00 to $6.00 and set a “market perform” rating for the company in a research report on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $6.60.

Ares Commercial Real Estate Stock Performance

NYSE:ACRE opened at $5.08 on Thursday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.38. The company has a market cap of $276.79 million, a P/E ratio of -4.30 and a beta of 1.50. Ares Commercial Real Estate has a fifty-two week low of $5.01 and a fifty-two week high of $8.59. The firm’s 50 day moving average is $6.06 and its two-hundred day moving average is $6.65.

Ares Commercial Real Estate Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 11.82%. The ex-dividend date of this dividend is Monday, March 31st. Ares Commercial Real Estate’s payout ratio is currently -84.75%.

Insider Activity at Ares Commercial Real Estate

In related news, VP Anton Feingold sold 7,615 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $5.68, for a total transaction of $43,253.20. Following the completion of the sale, the vice president now directly owns 78,360 shares of the company’s stock, valued at approximately $445,084.80. This trade represents a 8.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Ares Commercial Real Estate

A number of large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in Ares Commercial Real Estate by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,272,163 shares of the real estate investment trust’s stock valued at $8,907,000 after purchasing an additional 16,309 shares in the last quarter. State Street Corp grew its holdings in Ares Commercial Real Estate by 2.3% during 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. Hotchkis & Wiley Capital Management LLC grew its holdings in Ares Commercial Real Estate by 1.0% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 861,390 shares of the real estate investment trust’s stock valued at $6,030,000 after purchasing an additional 8,900 shares in the last quarter. Van ECK Associates Corp grew its holdings in Ares Commercial Real Estate by 19.5% during the 4th quarter. Van ECK Associates Corp now owns 591,036 shares of the real estate investment trust’s stock valued at $3,481,000 after purchasing an additional 96,551 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Ares Commercial Real Estate by 31.5% during the 4th quarter. JPMorgan Chase & Co. now owns 545,967 shares of the real estate investment trust’s stock valued at $3,216,000 after purchasing an additional 130,635 shares in the last quarter. 41.34% of the stock is owned by institutional investors and hedge funds.

Ares Commercial Real Estate Company Profile

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.