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

Ares Commercial Real Estate (NYSE:ACRE) will be releasing its earnings data before the market opens on Thursday, November 7th. Analysts expect the company to announce earnings of $0.11 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Ares Commercial Real Estate Stock Performance

NYSE ACRE opened at $6.47 on Thursday. The business’s 50 day moving average price is $6.94 and its 200-day moving average price is $6.97. Ares Commercial Real Estate has a fifty-two week low of $6.35 and a fifty-two week high of $11.24. The company has a market cap of $352.66 million, a P/E ratio of -7.80 and a beta of 1.45. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.87 and a current ratio of 0.87.

Ares Commercial Real Estate Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 15.46%. The ex-dividend date was Monday, September 30th. Ares Commercial Real Estate’s dividend payout ratio (DPR) is -120.48%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. StockNews.com downgraded shares of Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. cut their target price on Ares Commercial Real Estate from $7.00 to $6.50 and set a “neutral” rating on the stock in a research note on Thursday, October 17th. BTIG Research reissued a “neutral” rating on shares of Ares Commercial Real Estate in a research note on Friday, July 19th. Finally, Wells Fargo & Company downgraded Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $7.50 to $7.00 in a research report on Friday, September 20th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $7.10.

Ares Commercial Real Estate Company Profile

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.