Ares Commercial Real Estate (NYSE:ACRE – Get Rating) is set to issue its quarterly earnings data before the market opens on Friday, July 29th. Analysts expect the company to announce earnings of $0.33 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.
Ares Commercial Real Estate (NYSE:ACRE – Get Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The real estate investment trust reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Ares Commercial Real Estate had a return on equity of 9.74% and a net margin of 58.09%. During the same quarter last year, the business posted $0.38 earnings per share. On average, analysts expect Ares Commercial Real Estate to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.
Ares Commercial Real Estate Trading Down 0.2 %
Ares Commercial Real Estate stock opened at $12.99 on Friday. The company has a 50 day moving average price of $13.29 and a 200 day moving average price of $14.39. Ares Commercial Real Estate has a 52 week low of $11.18 and a 52 week high of $16.48. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.61 and a current ratio of 0.61. The firm has a market capitalization of $616.22 million, a price-to-earnings ratio of 9.69 and a beta of 1.23.
Ares Commercial Real Estate Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were given a $0.35 dividend. This is an increase from Ares Commercial Real Estate’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $1.40 dividend on an annualized basis and a yield of 10.78%. Ares Commercial Real Estate’s dividend payout ratio is presently 98.51%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of ACRE. Samalin Investment Counsel LLC acquired a new position in Ares Commercial Real Estate in the 1st quarter valued at $50,000. Worth Asset Management LLC acquired a new position in Ares Commercial Real Estate in the 1st quarter valued at $97,000. Atria Wealth Solutions Inc. acquired a new position in Ares Commercial Real Estate in the 1st quarter valued at $199,000. Graham Capital Management L.P. acquired a new position in Ares Commercial Real Estate in the 1st quarter valued at $206,000. Finally, Penserra Capital Management LLC grew its stake in Ares Commercial Real Estate by 28.8% in the 1st quarter. Penserra Capital Management LLC now owns 18,830 shares of the real estate investment trust’s stock valued at $292,000 after buying an additional 4,212 shares during the last quarter. Institutional investors own 46.66% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the stock. JMP Securities reiterated a “buy” rating and issued a $16.50 target price on shares of Ares Commercial Real Estate in a research report on Tuesday, May 24th. StockNews.com assumed coverage on shares of Ares Commercial Real Estate in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. increased their target price 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.
About Ares Commercial Real Estate
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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