In yesterday’s Wall Street session, Ares Commercial Real Estate Corporation (NYSE:ACRE) shares traded at $10.18, down -7.45% from the previous session.
As of this writing, 7 analysts cover Ares Commercial Real Estate Corporation (NYSE:ACRE). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $14.00 and a low of $12.00, we find $13.50. Given the previous closing price of $11.00, this indicates a potential upside of 22.73 percent. ACRE stock price is now -13.03% away from the 50-day moving average and -22.56% away from the 200-day moving average. The market capitalization of the company currently stands at $546.16M.
There are 1 analysts who have given it a hold rating, whereas 5 have given it a buy rating. Brokers who have rated the stock have averaged $13.21 as their price target over the next twelve months.
On February 03, 2021, BTIG Research recently initiated its ‘Buy’ rating on the stock quoting a target price of $13.50, while ‘Raymond James’ rates the stock as ‘Outperform’.
In other news, FEINGOLD ANTON, Gen. Counsel VP and Secretary sold 935 shares of the company’s stock on Apr 08. The stock was sold for $14,563 at an average price of $15.57. Upon completion of the transaction, the Gen. Counsel VP and Secretary now directly owns 37,531 shares in the company, valued at $0.38 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 23, Director Benjamin William Stephen bought 18,000 shares of the business’s stock. A total of $252,920 was incurred on buying the stock at an average price of $14.05. This leaves the insider owning 36,596 shares of the company worth $0.37 million. Insiders disposed of 11,163 shares of company stock worth roughly $0.11 million over the past 1 year. A total of 0.80% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ACRE stock. A new stake in Ares Commercial Real Estate Corporation shares was purchased by WELLINGTON MANAGEMENT GROUP LLP during the first quarter worth $4,078,000. STATE OF NEW JERSEY COMMON PENSION FUND D invested $1,792,000 in shares of ACRE during the first quarter. In the first quarter, SUSQUEHANNA INTERNATIONAL GROUP, LLP acquired a new stake in Ares Commercial Real Estate Corporation valued at approximately $472,000. CAPTRUST FINANCIAL ADVISORS acquired a new stake in ACRE for approximately $353,000. INDEXIQ ADVISORS LLC purchased a new stake in ACRE valued at around $267,000 in the second quarter. In total, there are 212 active investors with 47.40% ownership of the company’s stock.
Wednesday morning saw Ares Commercial Real Estate Corporation (NYSE: ACRE) opened at $10.97. During the past 12 months, Ares Commercial Real Estate Corporation has had a low of $9.99 and a high of $16.42. The fifty day moving average price for ACRE is $11.70 and a two-hundred day moving average price translates $13.17 for the stock.
The latest earnings results from Ares Commercial Real Estate Corporation (NYSE: ACRE) was released for Jun, 2022. According to the REIT – Mortgage Company, earnings per share came in at $0.2, missing analysts’ expectations of $0.31 by -0.11. This compares to $0.21 EPS in the same period last year. The net profit margin was 26.80% and return on equity was 6.00% for ACRE. The company reported revenue of $27.27 million for the quarter, compared to $27.2 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 0.25 percent. For the current quarter, analysts expect ACRE to generate $24.8M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 01/18/2023. Investors who held shares on 12/30/2022 were paid a $0.33 dividend. On an annualized basis, this represents a $1.32 dividend and a 12.97% percent yield. There was an ex-dividend date of 12/29/2022 for this dividend. In terms of dividend payout ratio, ACRE is presently at 143.80%.
Ares Commercial Real Estate Corporation(ACRE) 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. 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. The company has elected and qualified to be taxed as a real estate investment trust for the United States federal income tax purposes under the Internal Revenue Code of 1986. Ares Commercial Real Estate Management LLC operates as the manager of the company. The company was incorporated in 2011 and is based in New York, New York.