$11.79 Million in Sales Expected for Ares Commercial Real Estate Corporation (NYSE:ACRE) This Quarter

Analysts expect Ares Commercial Real Estate Corporation (NYSE:ACRE) to report sales of $11.79 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Ares Commercial Real Estate Corporation’s earnings, with the highest sales estimate coming in at $12.15 million and the lowest estimate coming in at $11.43 million. Ares Commercial Real Estate Corporation reported sales of $20.78 million in the same quarter last year, which indicates a negative year over year growth rate of 43.3%. The firm is expected to issue its next earnings report on Thursday, November 2nd.

According to Zacks, analysts expect that Ares Commercial Real Estate Corporation will report full year sales of $11.79 million for the current fiscal year, with estimates ranging from $44.70 million to $46.26 million. For the next year, analysts anticipate that the firm will report sales of $51.28 million per share, with estimates ranging from $50.67 million to $51.89 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Ares Commercial Real Estate Corporation.

Ares Commercial Real Estate Corporation (NYSE:ACRE) last issued its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.24. Ares Commercial Real Estate Corporation had a return on equity of 7.07% and a net margin of 45.06%. The company had revenue of $10.40 million during the quarter, compared to the consensus estimate of $10.85 million. During the same period last year, the company earned $0.31 earnings per share. The firm’s revenue was down 1.0% compared to the same quarter last year.

A number of research analysts have commented on ACRE shares. Zacks Investment Research raised Ares Commercial Real Estate Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 9th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $13.75 price target on shares of Ares Commercial Real Estate Corporation in a research report on Wednesday, May 3rd. JMP Securities upped their price target on Ares Commercial Real Estate Corporation to $14.00 and gave the company a “market outperform” rating in a research report on Monday. Credit Suisse Group reaffirmed a “hold” rating on shares of Ares Commercial Real Estate Corporation in a research report on Friday, August 4th. Finally, BidaskClub lowered Ares Commercial Real Estate Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $14.07.

Ares Commercial Real Estate Corporation (NYSE:ACRE) opened at 13.35 on Wednesday. The company has a market capitalization of $380.06 million, a P/E ratio of 9.12 and a beta of 0.69. Ares Commercial Real Estate Corporation has a 12 month low of $12.13 and a 12 month high of $14.39. The stock’s 50 day moving average price is $13.13 and its 200-day moving average price is $13.33.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 8.09%. The ex-dividend date of this dividend is Thursday, September 28th. Ares Commercial Real Estate Corporation’s dividend payout ratio is currently 77.14%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Neuberger Berman Group LLC raised its position in shares of Ares Commercial Real Estate Corporation by 0.3% in the second quarter. Neuberger Berman Group LLC now owns 423,005 shares of the real estate investment trust’s stock valued at $5,537,000 after buying an additional 1,275 shares in the last quarter. Marshall Wace North America L.P. purchased a new position in shares of Ares Commercial Real Estate Corporation during the second quarter valued at about $401,000. Boston Partners raised its position in shares of Ares Commercial Real Estate Corporation by 2.0% in the second quarter. Boston Partners now owns 2,154,350 shares of the real estate investment trust’s stock valued at $28,201,000 after buying an additional 42,639 shares in the last quarter. HGI Capital Management LLC purchased a new position in shares of Ares Commercial Real Estate Corporation during the second quarter valued at about $713,000. Finally, Camelot Portfolios LLC raised its position in shares of Ares Commercial Real Estate Corporation by 4.9% in the second quarter. Camelot Portfolios LLC now owns 80,926 shares of the real estate investment trust’s stock valued at $1,059,000 after buying an additional 3,807 shares in the last quarter. 66.87% of the stock is owned by hedge funds and other institutional investors.

Ares Commercial Real Estate Corporation Company Profile

Ares Commercial Real Estate Corporation is a specialty finance company. The Company is primarily engaged in originating and investing in commercial real estate (CRE) loans and related investments. The Company operates through principal lending segment. Its target investments include senior mortgage loans, subordinated debt, preferred equity, mezzanine loans and other CRE investment opportunities, including commercial mortgage-backed securities.

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