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Ares Commercial Real Estate Corp. ACRE is a mortgage real estate investment trust (mREIT) now going for just 78% of book value.
The Atlanta-based mREIT’s market capitalization comes to $586 million, a relatively small figure for a New York Stock Exchange-listed real estate investment trust. Funds from operations (FFO) are up by 115% this year and the past five-year FFO results increased by 9.3%. Bank of America Securities issued a Buy on Ares in October with a price target of $13. The mREIT pays a hefty 12.07% dividend.
New York-based Blackstone Mortgage Trust Inc. BXMT is a real estate finance company that, according to the firm’s website, “originates senior loans collateralized by commercial real estate in North America and Australia.” The market capitalization is $3.84 billion, and the REIT trades at 0.82% book. This year’s funds from operations increased by 184% and the past five-year record is 1.8%. Blackstone Mortgage Trust pays an 11.08% dividend.
Cousins Property Inc. CUZ is an office real estate investment trust now trading at 83% of book. The Atlanta-based company owns and operates properties in Atlanta; Dallas and Austin, Texas; Charlotte, North Carolina; and a number of similar Sun Belt cities. Funds from operations this year are up by 17.1%. The past five-year FFO increase is 14.8%. Cousins Property is paying a dividend of 5.04%.
Franklin Street Properties Corp. FSP trades at 37% book. That far below book value suggests investors should take a close look before sending money in that direction. Market capitalization for this American Stock Exchange-traded REIT is small for the sector at $283 million. Franklin Street trades with a price-earnings ratio of 3.45 and pays a 1.45% dividend. This year’s funds from operations grew by 186% and the past five-year FFO growth rate is 60.6%. Analysts do not expect that kind of growth over the next 12 months.
Weekly REIT Report: REITs are one of the most misunderstood investment options, making it difficult for investors to spot incredible opportunities until it’s too late. Benzinga’s in-house real estate research team has been working hard to identify the greatest opportunities in today’s market, which you can gain access to for free by signing up for Benzinga’s Weekly REIT Report.
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