JMP Securities Reiterates “Market Perform” Rating for Ares Commercial Real Estate (NYSE:ACRE)

JMP Securities restated their market perform rating on shares of Ares Commercial Real Estate (NYSE:ACRE) in a report published on Monday,Benzinga reports.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. cut their price objective on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a “neutral” rating for the company in a report on Thursday, February 13th. Keefe, Bruyette & Woods reduced their price target on shares of Ares Commercial Real Estate from $5.50 to $4.50 and set a “market perform” rating on the stock in a report on Monday, April 7th. Finally, UBS Group dropped their price objective on shares of Ares Commercial Real Estate from $5.25 to $3.75 and set a “neutral” rating for the company in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Ares Commercial Real Estate has an average rating of “Hold” and a consensus price target of $5.19.

Ares Commercial Real Estate Price Performance

Shares of Ares Commercial Real Estate stock opened at $3.77 on Monday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.17. Ares Commercial Real Estate has a 52 week low of $3.35 and a 52 week high of $7.99. The stock’s 50-day simple moving average is $4.46 and its 200-day simple moving average is $5.73. The company has a market capitalization of $206.81 million, a price-to-earnings ratio of -5.80 and a beta of 1.22.

Ares Commercial Real Estate Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.15 per share. The ex-dividend date was Monday, March 31st. This represents a $0.60 annualized dividend and a yield of 15.92%. Ares Commercial Real Estate’s payout ratio is presently -92.31%.

Insiders Place Their Bets

In related news, VP Anton Feingold sold 7,615 shares of the 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 sale, the vice president now directly owns 78,360 shares of the company’s stock, valued at $445,084.80. This represents a 8.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Summit Securities Group LLC lifted its stake in shares of Ares Commercial Real Estate by 139.7% during the 4th 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 during the last quarter. FMR LLC increased its stake in Ares Commercial Real Estate by 211.0% in the third quarter. FMR LLC now owns 7,741 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 5,252 shares during the period. McIlrath & Eck LLC bought a new stake in shares of Ares Commercial Real Estate during the fourth quarter worth $54,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Ares Commercial Real Estate during the fourth quarter valued at $69,000. Finally, New York State Common Retirement Fund grew its holdings in shares of Ares Commercial Real Estate by 160.9% in 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 purchasing an additional 7,300 shares during the last quarter. Institutional investors 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.