Ares Commercial Real Estate Co. (NYSE:ACRE) Given Average Recommendation of “Reduce” by Analysts

Ares Commercial Real Estate Co. (NYSE:ACRE) has earned a consensus rating of “Reduce” from the six ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $5.81.

A number of equities analysts have commented on ACRE shares. Keefe, Bruyette & Woods decreased their price target on Ares Commercial Real Estate from $6.00 to $5.50 and set a “market perform” rating on the stock in a research note on Thursday, February 13th. JPMorgan Chase & Co. cut their target price on shares of 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. UBS Group lowered their price target on shares of Ares Commercial Real Estate from $6.00 to $5.25 and set a “neutral” rating for the company in a report on Tuesday, February 25th. StockNews.com raised shares of Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, JMP Securities restated a “market perform” rating on shares of Ares Commercial Real Estate in a research report on Thursday, February 13th.

Insider Buying and Selling at Ares Commercial Real Estate

In other Ares Commercial Real Estate news, VP Anton Feingold sold 7,615 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $5.68, for a total value of $43,253.20. Following the completion of the sale, the vice president now directly owns 78,360 shares in the company, valued at $445,084.80. This trade represents a 8.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Summit Securities Group LLC boosted its position in shares of Ares Commercial Real Estate by 139.7% during the fourth quarter. Summit Securities Group LLC now owns 6,700 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 3,905 shares in the last quarter. FMR LLC lifted its position in Ares Commercial Real Estate by 211.0% during the third quarter. FMR LLC now owns 7,741 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 5,252 shares during the period. McIlrath & Eck LLC bought a new stake in shares of Ares Commercial Real Estate during the 4th quarter valued at $54,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Ares Commercial Real Estate in the 4th quarter worth about $69,000. Finally, New York State Common Retirement Fund increased its stake in shares of Ares Commercial Real Estate by 160.9% in the 4th quarter. New York State Common Retirement Fund now owns 11,838 shares of the real estate investment trust’s stock worth $70,000 after acquiring an additional 7,300 shares in the last quarter. Hedge funds and other institutional investors own 41.34% of the company’s stock.

Ares Commercial Real Estate Stock Down 0.7 %

ACRE opened at $4.74 on Friday. Ares Commercial Real Estate has a 12 month low of $4.63 and a 12 month high of $7.99. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.17. The business’s 50-day moving average price is $5.59 and its 200-day moving average price is $6.45. The company has a market cap of $259.75 million, a P/E ratio of -7.28 and a beta of 1.50.

Ares Commercial Real Estate Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 12.67%. The ex-dividend date is Monday, March 31st. Ares Commercial Real Estate’s payout ratio is -92.31%.

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.