Ares Commercial Real Estate Co. (NYSE:ACRE - Get Free Report) CEO Bryan Patrick Donohoe purchased 3,509 shares of the stock in a transaction dated Sunday, March 10th. The shares were purchased at an average price of $14.32 per share, with a total value of $50,248.88. Following the completion of the acquisition, the chief executive officer now owns 41,259 shares of the company's stock, valued at $590,828.88. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.
Bryan Patrick Donohoe also recently made the following trade(s):
- On Tuesday, January 30th, Bryan Patrick Donohoe sold 18,868 shares of Ares Commercial Real Estate stock. The stock was sold at an average price of $10.32, for a total transaction of $194,717.76.
Ares Commercial Real Estate Price Performance
ACRE opened at $7.19 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 2.42. Ares Commercial Real Estate Co. has a 52-week low of $7.07 and a 52-week high of $11.24. The company has a 50 day moving average of $8.07 and a two-hundred day moving average of $9.28. The company has a market cap of $391.03 million, a P/E ratio of -9.98 and a beta of 1.41.
Ares Commercial Real Estate Cuts Dividend
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The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 16th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, March 27th. This represents a $1.00 annualized dividend and a yield of 13.92%. Ares Commercial Real Estate's dividend payout ratio is currently -138.89%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the stock. Bank of America reissued an "underperform" rating and issued a $7.00 target price (down from $11.00) on shares of Ares Commercial Real Estate in a research report on Monday, March 4th. JPMorgan Chase & Co. lowered their target price on shares of Ares Commercial Real Estate from $9.50 to $8.00 and set a "neutral" rating for the company in a report on Friday, February 23rd. TheStreet downgraded shares of Ares Commercial Real Estate from a "c-" rating to a "d+" rating in a report on Tuesday, March 5th. UBS Group lowered their target price on shares of Ares Commercial Real Estate from $10.50 to $8.00 and set a "neutral" rating for the company in a report on Wednesday, March 20th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Ares Commercial Real Estate from $10.25 to $8.00 and set a "market perform" rating for the company in a report on Monday, February 26th. One investment analyst has rated the stock with a sell rating and eight have given a hold rating to the company's stock. Based on data from MarketBeat, Ares Commercial Real Estate currently has a consensus rating of "Hold" and an average price target of $9.00.
View Our Latest Stock Report on Ares Commercial Real Estate
Institutional Investors Weigh In On Ares Commercial Real Estate
Several institutional investors have recently bought and sold shares of ACRE. Penserra Capital Management LLC boosted its stake in shares of Ares Commercial Real Estate by 14.4% in the third quarter. Penserra Capital Management LLC now owns 51,638 shares of the real estate investment trust's stock valued at $491,000 after purchasing an additional 6,519 shares during the period. Samalin Investment Counsel LLC boosted its stake in shares of Ares Commercial Real Estate by 12.6% in the third quarter. Samalin Investment Counsel LLC now owns 25,519 shares of the real estate investment trust's stock valued at $243,000 after purchasing an additional 2,859 shares during the period. Clearstead Advisors LLC boosted its stake in shares of Ares Commercial Real Estate by 9.7% in the third quarter. Clearstead Advisors LLC now owns 21,260 shares of the real estate investment trust's stock valued at $202,000 after purchasing an additional 1,876 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Ares Commercial Real Estate in the third quarter valued at $250,000. Finally, Jaffetilchin Investment Partners LLC boosted its stake in shares of Ares Commercial Real Estate by 15.4% in the third quarter. Jaffetilchin Investment Partners LLC now owns 16,903 shares of the real estate investment trust's stock valued at $161,000 after purchasing an additional 2,259 shares during the period. 41.34% of the stock is currently owned by hedge funds and other institutional investors.
Ares Commercial Real Estate Company Profile
(
Get Free Report)
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.
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