According to Zacks, “Ares Commercial Real Estate Corporation is a specialty finance company focused on originating, investing in and managing middle-market commercial real estate loans and other commercial real estate investments. The Company’s financing solutions are comprised of its target investments, which include the following: Transitional senior mortgage loans, Stretch senior mortgage loans, Subordinate debt mortgage loans and Other CRE debt and preferred equity investments. Ares Commercial Real Estate Corporation is based in Chicago, Illinois. “
Separately, ValuEngine upgraded shares of Zynerba Pharmaceuticals from a sell rating to a hold rating in a research note on Monday, April 1st. 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 stock. The company currently has a consensus rating of Buy and a consensus price target of $15.20.
Shares of ACRE traded up $0.11 during trading hours on Monday, hitting $15.15. The company’s stock had a trading volume of 115,986 shares, compared to its average volume of 188,173. The company has a market cap of $435.06 million, a P/E ratio of 10.90 and a beta of 0.59. The company has a 50 day moving average price of $14.98. Ares Commercial Real Estate has a 52-week low of $12.75 and a 52-week high of $15.53.
Ares Commercial Real Estate (NYSE:ACRE) last posted its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate 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%. Analysts forecast that Ares Commercial Real Estate will post 1.29 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 16th. Investors of record on Friday, June 28th will be paid a dividend of $0.33 per share. The ex-dividend date is Thursday, June 27th. This represents a $1.32 annualized dividend and a yield of 8.71%. Ares Commercial Real Estate’s dividend payout ratio is currently 94.96%.
Large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. purchased a new position in Ares Commercial Real Estate during the first quarter valued at approximately $36,000. Catalyst Capital Advisors LLC purchased a new position in Ares Commercial Real Estate during the first quarter valued at approximately $36,000. Advisor Group Inc. purchased a new position in Ares Commercial Real Estate during the fourth quarter valued at approximately $69,000. Marshall Wace North America L.P. purchased a new position in Ares Commercial Real Estate during the first quarter valued at approximately $77,000. Finally, BNP Paribas Arbitrage SA grew its stake in Ares Commercial Real Estate by 216.8% during the first quarter. BNP Paribas Arbitrage SA now owns 5,578 shares of the real estate investment trust’s stock valued at $85,000 after acquiring an additional 3,817 shares in the last quarter. 67.21% of the stock is owned by institutional investors.
About Ares Commercial Real Estate
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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