Ares Commercial Real Estate Co. (NYSE:ACRE – Get Rating) was the target of a significant decrease in short interest in May. As of May 15th, there was short interest totalling 841,400 shares, a decrease of 15.1% from the April 30th total of 990,800 shares. Based on an average daily volume of 666,800 shares, the days-to-cover ratio is presently 1.3 days.
Institutional investors and hedge funds have recently bought and sold shares of the company. Samalin Investment Counsel LLC bought a new stake in shares of Ares Commercial Real Estate in the first quarter valued at approximately $50,000. Selective Wealth Management Inc. bought a new position in Ares Commercial Real Estate in the first quarter worth $53,000. Penserra Capital Management LLC bought a new position in Ares Commercial Real Estate in the third quarter worth $81,000. Worth Asset Management LLC bought a new position in Ares Commercial Real Estate in the first quarter worth $97,000. Finally, LPL Financial LLC bought a new position in Ares Commercial Real Estate in the fourth quarter worth $154,000. 46.66% of the stock is owned by institutional investors.
A number of analysts have recently issued reports on ACRE shares. JPMorgan Chase & Co. increased their price target on shares of Ares Commercial Real Estate from $14.50 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, April 25th. StockNews.com assumed coverage on Ares Commercial Real Estate in a report on Thursday, March 31st. They issued a “hold” rating on the stock. JMP Securities restated a “buy” rating and issued a $16.50 price objective on shares of Ares Commercial Real Estate in a report on Tuesday, May 24th. Finally, Zacks Investment Research downgraded Ares Commercial Real Estate from a “buy” rating to a “hold” rating in a report on Wednesday, April 27th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $16.75.
Shares of ACRE stock opened at $14.70 on Wednesday. Ares Commercial Real Estate has a 12 month low of $13.48 and a 12 month high of $16.98. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 2.57. The business’s 50 day moving average is $15.31 and its two-hundred day moving average is $14.94. The company has a market cap of $697.37 million, a PE ratio of 10.97 and a beta of 1.20.
Ares Commercial Real Estate (NYSE:ACRE – Get Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The real estate investment trust reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). Ares Commercial Real Estate had a net margin of 58.09% and a return on equity of 9.74%. During the same period last year, the company posted $0.38 EPS. As a group, equities analysts expect that Ares Commercial Real Estate will post 1.38 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 9.52%. This is a boost from Ares Commercial Real Estate’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Wednesday, June 29th. Ares Commercial Real Estate’s dividend payout ratio is currently 98.51%.
Ares Commercial Real Estate Company Profile (Get Rating)
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. The company provides a range of financing solutions for the owners, operators, and sponsors of CRE properties. It originates senior mortgage loans, subordinate debt products, mezzanine loans, real estate preferred equity investments, and other CRE investments, including commercial mortgage backed securities.
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