Brokerages expect Ares Commercial Real Estate Corporation (NYSE:ACRE) to post $11.53 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Ares Commercial Real Estate Corporation’s earnings, with the highest sales estimate coming in at $11.63 million and the lowest estimate coming in at $11.43 million. Ares Commercial Real Estate Corporation posted sales of $20.78 million during the same quarter last year, which suggests a negative year-over-year growth rate of 44.5%. The company is scheduled to announce 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 $11.53 million for the current financial year, with estimates ranging from $44.56 million to $44.70 million. For the next financial year, analysts expect that the business will report sales of $50.58 million per share, with estimates ranging from $50.49 million to $50.67 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Ares Commercial Real Estate Corporation.

Ares Commercial Real Estate Corporation (NYSE:ACRE) last released its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24. The business had revenue of $10.40 million for the quarter, compared to the consensus estimate of $10.85 million. Ares Commercial Real Estate Corporation had a net margin of 45.06% and a return on equity of 7.07%. The business’s revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.31 EPS.

Several research analysts have recently weighed in on the stock. BidaskClub lowered shares of Ares Commercial Real Estate Corporation from a “hold” rating to a “sell” rating in a report on Thursday. Zacks Investment Research upgraded shares of Ares Commercial Real Estate Corporation from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Wednesday, July 26th. Credit Suisse Group reiterated a “hold” rating on shares of Ares Commercial Real Estate Corporation in a report on Friday, August 4th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $13.75 price objective on shares of Ares Commercial Real Estate Corporation in a report on Friday, June 9th. Finally, JMP Securities increased their price objective on shares of Ares Commercial Real Estate Corporation to $14.00 and gave the stock a “market outperform” rating in a report on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $14.45.

Shares of Ares Commercial Real Estate Corporation (NYSE:ACRE) opened at 13.07 on Friday. Ares Commercial Real Estate Corporation has a 1-year low of $12.24 and a 1-year high of $14.39. The stock has a market capitalization of $373.24 million, a P/E ratio of 9.38 and a beta of 0.68. The stock has a 50 day moving average of $13.13 and a 200-day moving average of $13.26.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a $0.27 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.08 annualized dividend and a yield of 8.26%. Ares Commercial Real Estate Corporation’s payout ratio is 77.14%.

A number of hedge funds and other institutional investors have recently bought and sold shares of ACRE. LSV Asset Management raised its holdings in Ares Commercial Real Estate Corporation by 15.1% in the first quarter. LSV Asset Management now owns 117,700 shares of the real estate investment trust’s stock valued at $1,574,000 after buying an additional 15,400 shares during the period. Bank of New York Mellon Corp raised its holdings in Ares Commercial Real Estate Corporation by 8.6% in the first quarter. Bank of New York Mellon Corp now owns 123,793 shares of the real estate investment trust’s stock valued at $1,656,000 after buying an additional 9,833 shares during the period. Karp Capital Management Corp purchased a new position in Ares Commercial Real Estate Corporation in the first quarter valued at approximately $277,000. TFS Capital LLC purchased a new position in Ares Commercial Real Estate Corporation in the first quarter valued at approximately $227,000. Finally, Hancock Holding Co. raised its holdings in Ares Commercial Real Estate Corporation by 26.0% in the first quarter. Hancock Holding Co. now owns 13,162 shares of the real estate investment trust’s stock valued at $176,000 after buying an additional 2,713 shares during the period. Hedge funds and other institutional investors own 65.15% of the company’s stock.

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About Ares Commercial Real Estate Corporation

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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