Ares Commercial Real Estate (ACRE) Scheduled to Post Earnings on Thursday

Ares Commercial Real Estate (NYSE:ACRE) is scheduled to release its earnings data before the market opens on Thursday, May 9th. Analysts expect Ares Commercial Real Estate to post earnings of ($0.30) per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Ares Commercial Real Estate Trading Up 2.1 %

NYSE ACRE opened at $6.93 on Thursday. The firm has a market cap of $377.13 million, a P/E ratio of -9.62 and a beta of 1.41. The company has a debt-to-equity ratio of 2.42, a current ratio of 1.43 and a quick ratio of 1.43. The stock’s 50-day moving average is $7.28 and its 200-day moving average is $8.93. Ares Commercial Real Estate has a one year low of $6.36 and a one year high of $11.24.

Ares Commercial Real Estate Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Thursday, March 28th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 14.43%. The ex-dividend date was Wednesday, March 27th. Ares Commercial Real Estate’s dividend payout ratio is presently -138.89%.

Insider Transactions at Ares Commercial Real Estate

In other Ares Commercial Real Estate news, CEO Bryan Patrick Donohoe bought 3,509 shares of Ares Commercial Real Estate stock in a transaction dated Sunday, March 10th. The stock was bought at an average cost of $14.32 per share, for a total transaction of $50,248.88. Following the purchase, the chief executive officer now owns 41,259 shares of the company’s stock, valued at approximately $590,828.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ACRE shares. UBS Group dropped their target price on Ares Commercial Real Estate from $10.50 to $8.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 20th. Bank of America reissued an “underperform” rating and issued a $7.00 target price (down previously from $11.00) on shares of Ares Commercial Real Estate in a research report on Monday, March 4th. JPMorgan Chase & Co. dropped their target price on Ares Commercial Real Estate from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 10th. TheStreet downgraded Ares Commercial Real Estate from a “c-” rating to a “d+” rating in a research note on Tuesday, March 5th. Finally, Keefe, Bruyette & Woods decreased their price target on Ares Commercial Real Estate from $8.00 to $7.50 and set a “market perform” rating for the company in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $8.79.

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.