Ares Commercial Real Estate Corporation (NYSE:ACRE) announced a quarterly dividend on Thursday, August 3rd, Wall Street Journal reports. Investors of record on Friday, September 29th will be given a dividend of 0.27 per share by the real estate investment trust on Monday, October 16th. This represents a $1.08 dividend on an annualized basis and a yield of 8.19%. The ex-dividend date is Thursday, September 28th.

Ares Commercial Real Estate Corporation has increased its dividend by an average of 1.0% annually over the last three years. Ares Commercial Real Estate Corporation has a payout ratio of 103.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Ares Commercial Real Estate Corporation to earn $1.22 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 88.5%.

Shares of Ares Commercial Real Estate Corporation (NYSE:ACRE) opened at 13.19 on Friday. The firm has a market cap of $376.67 million, a PE ratio of 9.47 and a beta of 0.68. The company has a 50-day moving average of $13.15 and a 200-day moving average of $13.24. Ares Commercial Real Estate Corporation has a 1-year low of $12.24 and a 1-year high of $14.39.

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 EPS for the quarter, hitting the Thomson Reuters’ 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 business had revenue of $10.40 million during the quarter, compared to analysts’ expectations of $10.85 million. During the same quarter in the prior year, the business earned $0.31 earnings per share. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. Analysts predict that Ares Commercial Real Estate Corporation will post $1.05 earnings per share for the current fiscal year.

A number of research analysts recently weighed in on the company. JMP Securities upped their price objective on Ares Commercial Real Estate Corporation to $14.00 and gave the stock a “market outperform” rating in a report on Monday, August 7th. Zacks Investment Research lowered Ares Commercial Real Estate Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub raised Ares Commercial Real Estate Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Keefe, Bruyette & Woods reaffirmed 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, Credit Suisse Group reaffirmed a “hold” rating on shares of Ares Commercial Real Estate Corporation in a report on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $14.45.

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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.

Dividend History for Ares Commercial Real Estate Corporation (NYSE:ACRE)

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