Ares Commercial Real Estate Co. (NYSE:ACRE) Announces $0.35 Not Available Dividend
Ares Commercial Real Estate Co. (NYSE: ACRE) announced an unavailable dividend on Wednesday, February 17th, Zacks reports. Shareholders of record on Wednesday March 31st will receive a dividend of 0.35 per share from the Real Estate Investment Trust on Thursday April 15th. The ex-dividend date of this dividend is Tuesday, March 30th.
Ares Commercial Real Estate has increased its dividend by 22.2% over the past three years and has increased its dividend annually for the past 1 consecutive years.
NYSE ACRE opened at $ 13.57 on Friday. The company has a quick rate of 1.41, a current rate of 1.41, and a leverage ratio of 2.98. The company has a market cap of $ 453.81 million, a P / E of 26.10, and a beta of 1.33. Ares Commercial Real Estate has a 12 month low of $ 2.78 and a 12 month high of $ 17.72. The company has a 50-day moving average price of $ 12.07 and a two-hundred-day moving average price of $ 10.72.
Ares Commercial Real Estate (NYSE: ACRE) last released its earnings results on Wednesday February 17th. The Real Estate Investment Trust reported earnings per share of $ 0.41 for the quarter, beating the consensus estimate of $ 0.35 by $ 0.06. Ares Commercial Real Estate had a net margin of 17.03% and a return on equity of 8.92%. Equity analysts expect Ares Commercial Real Estate to achieve an EPS of 1.27 this year.
ACRE has been the subject of several analyst reports. Raymond James reiterated his buy recommendation and issued a research report on Friday, December 4th, with a price target of USD 11.00 on shares of Ares Commercial Real Estate. Zacks Investment Research released a research report on Ares Commercial Real Estate on Tuesday, December 29th, downgrading the shares of Ares Commercial Real Estate from a “Buy” rating to a “Hold” rating. BTIG Research started reporting on shares of Ares Commercial Real Estate in a research report on Tuesday, February 2nd. They posted a “Buy” rating and a target price of $ 13.50 on the company. Finally, on Wednesday, November 18th, TheStreet upgraded Ares Commercial Real Estate’s shares from a “d +” rating to a “c” rating in a research report. Two research analysts have given the stock a hold rating and five with a buy rating. Ares Commercial Real Estate has an average rating of “Buy” and an average price target of $ 11.64.
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About Ares Commercial Real Estate
Ares Commercial Real Estate Corporation, a specialty finance firm, has taken out and invests in commercial real estate (CRE) loans and related investments in the United States. It offers a range of financing solutions for CRE property owners, operators and sponsors. The company makes senior mortgage loans, subordinated debt, preferred real estate investments, mezzanine loans and other CRE investments, including commercial mortgage-backed securities.
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