20 Jul Ares Commercial Real Estate (NYSE:ACRE) Share Price Crosses Above 50 Day Moving Average of $14.99
Shares of Ares Commercial Real Estate Corp (NYSE:ACRE) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $14.99 and traded as high as $15.08. Ares Commercial Real Estate shares last traded at $15.03, with a volume of 1,117 shares changing hands.
ACRE has been the topic of a number of analyst reports. ValuEngine raised Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Zacks Investment Research raised Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research report on Monday, July 8th. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $15.20.
The company has a market capitalization of $433.03 million, a P/E ratio of 10.95 and a beta of 0.59. The company’s fifty day moving average is $14.99.
Ares Commercial Real Estate (NYSE:ACRE) last issued its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). The business had revenue of $27.99 million during the quarter. Ares Commercial Real Estate had a return on equity of 9.19% and a net margin of 31.83%. As a group, sell-side analysts anticipate that Ares Commercial Real Estate Corp will post 1.29 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 16th. Stockholders of record on Friday, June 28th were issued a $0.33 dividend. The ex-dividend date was Thursday, June 27th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 8.89%. Ares Commercial Real Estate’s payout ratio is currently 94.96%.
Several large investors have recently made changes to their positions in the stock. Bessemer Group Inc. grew its position in Ares Commercial Real Estate by 0.8% during the second quarter. Bessemer Group Inc. now owns 89,300 shares of the real estate investment trust’s stock worth $1,327,000 after buying an additional 700 shares in the last quarter. James Investment Research Inc. grew its stake in Ares Commercial Real Estate by 3.7% in the 1st quarter. James Investment Research Inc. now owns 41,690 shares of the real estate investment trust’s stock valued at $633,000 after buying an additional 1,475 shares during the last quarter. PNC Financial Services Group Inc. acquired a new position in Ares Commercial Real Estate in the 1st quarter valued at about $36,000. Catalyst Capital Advisors LLC acquired a new position in Ares Commercial Real Estate in the 1st quarter valued at about $36,000. Finally, BNP Paribas Arbitrage SA grew its stake in Ares Commercial Real Estate by 216.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,578 shares of the real estate investment trust’s stock valued at $85,000 after buying an additional 3,817 shares during the last quarter. Institutional investors and hedge funds own 67.50% of the company’s stock.
Ares Commercial Real Estate Company Profile (NYSE:ACRE)
Ares Commercial Real Estate Corporation, a specialty finance company, originates and invests in commercial real estate loans and related investments in the United States. It provides a range of financing solutions for the owners, operators, and sponsors of commercial real estate (CRE) properties. The company originates senior mortgage loans, subordinate debt products, real estate preferred equity investments, mezzanine loans, and other CRE investments.
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