Ares Commercial Real Estate (ACRE) Set to Announce Quarterly Earnings on Thursday

Ares Commercial Real Estate (NYSE:ACRE) will announce its earnings results before the market opens on Thursday, May 9th. Analysts expect the company to announce earnings of ($0.30) per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Ares Commercial Real Estate Stock Performance

Shares of NYSE ACRE opened at $6.85 on Wednesday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 2.42. The stock’s 50-day moving average is $7.21 and its 200 day moving average is $8.85. The stock has a market cap of $372.78 million, a price-to-earnings ratio of -9.51 and a beta of 1.42. Ares Commercial Real Estate has a 1-year low of $6.36 and a 1-year high of $11.24.

Ares Commercial Real Estate Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Thursday, March 28th were paid a $0.25 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a yield of 14.60%. Ares Commercial Real Estate’s dividend payout ratio (DPR) is currently -138.89%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ACRE shares. Bank of America reaffirmed an “underperform” rating and issued a $7.00 price target (down from $11.00) on shares of Ares Commercial Real Estate in a research note on Monday, March 4th. Keefe, Bruyette & Woods decreased their price target on Ares Commercial Real Estate from $8.00 to $7.50 and set a “market perform” rating on the stock in a research note on Wednesday, April 10th. JPMorgan Chase & Co. cut their price objective 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 lowered Ares Commercial Real Estate from a “c-” rating to a “d+” rating in a research report on Tuesday, March 5th. Finally, UBS Group cut their price objective 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. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, Ares Commercial Real Estate has an average rating of “Hold” and a consensus price target of $8.50.

Insider Buying and Selling at Ares Commercial Real Estate

In related news, CEO Bryan Patrick Donohoe acquired 3,509 shares of the stock in a transaction on Sunday, March 10th. The stock was acquired at an average price of $14.32 per share, for a total transaction of $50,248.88. Following the completion of the purchase, the chief executive officer now owns 41,259 shares of the company’s stock, valued at $590,828.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.80% of the stock is owned by company insiders.

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. 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.