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

Ares Commercial Real Estate Co. (NYSE:ACRE) has been assigned a consensus recommendation of “Reduce” from the seven research firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $6.05.

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

Insider Buying and Selling

In related news, VP Anton Feingold sold 7,615 shares of the 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 transaction, the vice president now owns 78,360 shares in the company, valued at approximately $445,084.80. This represents a 8.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ACRE. Summit Securities Group LLC raised its position in 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 worth $39,000 after acquiring an additional 3,905 shares in the last quarter. FMR LLC raised 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 worth $54,000 after acquiring an additional 5,252 shares in the last quarter. McIlrath & Eck LLC bought a new stake in Ares Commercial Real Estate during the fourth quarter worth $54,000. Brown Brothers Harriman & Co. bought a new stake in Ares Commercial Real Estate during the fourth quarter worth $69,000. Finally, New York State Common Retirement Fund raised its position in Ares Commercial Real Estate by 160.9% during the fourth 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. Institutional investors and hedge funds own 41.34% of the company’s stock.

Ares Commercial Real Estate Stock Up 2.1 %

Shares of NYSE:ACRE opened at $4.89 on Friday. Ares Commercial Real Estate has a 52 week low of $4.75 and a 52 week high of $7.99. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market capitalization of $268.25 million, a PE ratio of -7.52 and a beta of 1.50. The company has a 50 day moving average price of $5.65 and a two-hundred day moving average price of $6.48.

Ares Commercial Real Estate Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 12.27%. The ex-dividend date is Monday, March 31st. Ares Commercial Real Estate’s payout ratio is -92.31%.

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.