Analysts Set Ares Commercial Real Estate Co. (NYSE:ACRE) Price Target at $9.00

Shares of Ares Commercial Real Estate Co. (NYSE:ACRE) have earned an average recommendation of “Reduce” from the eight brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and seven have issued a hold rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $8.79.

A number of analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on Ares Commercial Real Estate from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, April 10th. Keefe, Bruyette & Woods reduced their target price on Ares Commercial Real Estate from $8.00 to $7.50 and set a “market perform” rating on the stock in a report on Wednesday, April 10th. TheStreet lowered shares of Ares Commercial Real Estate from a “c-” rating to a “d+” rating in a report on Tuesday, March 5th. Bank of America reaffirmed an “underperform” rating and issued a $7.00 price objective (down from $11.00) on shares of Ares Commercial Real Estate in a research note on Monday, March 4th. Finally, UBS Group lowered their target price on shares of Ares Commercial Real Estate from $10.50 to $8.00 and set a “neutral” rating for the company in a research note on Wednesday, March 20th.

Ares Commercial Real Estate Trading Down 3.2 %

Shares of NYSE ACRE opened at $6.53 on Wednesday. The stock has a market cap of $355.09 million, a P/E ratio of -9.06 and a beta of 1.41. The firm has a 50 day moving average price of $7.63 and a two-hundred day moving average price of $9.11. The company has a debt-to-equity ratio of 2.42, a quick ratio of 1.43 and a current ratio of 1.43. Ares Commercial Real Estate has a 52-week low of $6.51 and a 52-week high of $11.24.

Ares Commercial Real Estate Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Thursday, March 28th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.00 annualized dividend and a dividend yield of 15.33%. Ares Commercial Real Estate’s dividend payout ratio is currently -138.89%.

Insider Buying and Selling

In other Ares Commercial Real Estate news, CEO Bryan Patrick Donohoe sold 18,868 shares of Ares Commercial Real Estate stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $10.32, for a total value of $194,717.76. Following the completion of the sale, the chief executive officer now directly owns 197,414 shares of the company’s stock, valued at $2,037,312.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, VP Anton Feingold sold 5,890 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $10.37, for a total value of $61,079.30. Following the transaction, the vice president now directly owns 68,975 shares in the company, valued at approximately $715,270.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Bryan Patrick Donohoe sold 18,868 shares of Ares Commercial Real Estate stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $10.32, for a total transaction of $194,717.76. Following the completion of the sale, the chief executive officer now directly owns 197,414 shares of the company’s stock, valued at approximately $2,037,312.48. The disclosure for this sale can be found here. 2.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC bought a new stake in shares of Ares Commercial Real Estate during the fourth quarter worth about $29,000. Samalin Investment Counsel LLC bought a new position in Ares Commercial Real Estate in the 1st quarter valued at about $50,000. Quarry LP acquired a new position in Ares Commercial Real Estate during the 1st quarter valued at about $31,000. Mango Five Family Inc. bought a new stake in Ares Commercial Real Estate during the 4th quarter worth approximately $62,000. Finally, Worth Asset Management LLC purchased a new stake in shares of Ares Commercial Real Estate in the first quarter worth approximately $97,000. Institutional investors and hedge funds own 41.34% of the company’s stock.

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.