Short-term stake in Ares Commercial Real Estate Co. (NYSE:ACRE) increases 18.1%
Ares Commercial Real Estate Co. (NYSE:ACRE – Get Rating) saw strong growth in short-term interest during the month of April. As of April 15, there was short interest totaling 1,160,000 shares, up 18.1% from the March 31 total of 982,400 shares. Based on an average trading volume of 542,200 shares, the short-term interest rate ratio is currently 2.1 days.
A number of analysts have recently commented on ACRE shares. JMP Securities raised its price target on Ares Commercial Real Estate shares from $16.00 to $16.50 and gave the company a “market outperforming” rating in a Thursday, March 31 research report . StockNews.com began covering Ares Commercial Real Estate shares in a research report on Thursday, March 31. They issued a “hold” rating for the company. JPMorgan Chase & Co. raised its price target on Ares Commercial Real Estate shares from $14.50 to $16.00 and gave the company a “neutral” rating in a Monday, April 25 research report . Finally, Zacks Investment Research moved shares of Ares Commercial Real Estate from a “buy” rating to a “hold” rating in a research report on Wednesday, April 27. Three research analysts gave the stock a hold rating and three gave the company a buy rating. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $16.70.
NYSE ACRE shares opened at $15.34 on Wednesday. The company has a market capitalization of $725.09 million, a PE ratio of 10.58 and a beta of 1.20. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt ratio of 2.76. Ares Commercial Real Estate has a 1 year minimum of $13.48 and a 1 year maximum of $16.98. The company has a fifty-day moving average price of $15.30 and a 200-day moving average price of $15.07.
Ares Commercial Real Estate (NYSE:ACRE – Get Rating) last reported results on Tuesday, May 3. The real estate investment trust reported earnings per share of $0.34 for the quarter, missing the Zacks consensus estimate of $0.36 per ($0.02). Ares Commercial Real Estate achieved a return on equity of 9.83% and a net margin of 59.23%. In the same quarter last year, the company earned $0.38 per share. Equity research analysts expect Ares Commercial Real Estate to post EPS of 1.39 for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 14. Shareholders of record on Thursday, March 31 received a dividend of $0.33 per share. The ex-dividend date was Wednesday, March 30. This represents a dividend of $1.32 on an annualized basis and a dividend yield of 8.60%. Ares Commercial Real Estate’s dividend payout rate is 91.03%.
In other Ares Commercial Real Estate news, Director William Stephen Benjamin purchased 18,000 shares of the company in a transaction on Wednesday, February 23. The stock was purchased at an average price of $14.05 per share, for a total transaction of $252,900.00. The purchase was disclosed in a legal filing with the SEC, accessible via this hyperlink. Insiders own 1.95% of the shares of the company.
Several institutional investors have recently bought and sold shares of the company. McDonald Partners LLC acquired a new stock position in Ares Commercial Real Estate during Q1 worth approximately $182,000. Belpointe Asset Management LLC acquired a new equity position in Ares Commercial Real Estate during Q1 worth approximately $193,000. Truist Financial Corp increased its stake in the shares of Ares Commercial Real Estate by 261.7% during the 1st quarter. Truist Financial Corp now owns 36,170 shares of the real estate investment trust worth $561,000 after buying an additional 26,170 shares in the last quarter. Concorde Asset Management LLC increased its stake in Ares Commercial Real Estate shares by 55.2% in the 1st quarter. Concorde Asset Management LLC now owns 135,798 shares of the real estate investment trust worth $2,108,000 after purchasing an additional 48,320 shares in the last quarter. Finally, Selective Wealth Management Inc. acquired a new stock position in Ares Commercial Real Estate during Q1 worth approximately $53,000. Institutional investors hold 46.66% of the company’s shares.
Ares Commercial Real Estate Company Profile (Get a rating)
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 offers a range of financing solutions for owners, operators and sponsors of CRE properties. It issues first mortgage loans, subordinated debt products, mezzanine loans, preferred equity investments in real estate and other CRE investments, including commercial mortgage-backed securities.
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