Arete Wealth Advisors LLC decreased its holdings in shares of Ares Commercial Real Estate Co. (NYSE:ACRE – Free Report) by 97.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,966 shares of the real estate investment trust’s stock after selling 772,775 shares during the period. Arete Wealth Advisors LLC’s holdings in Ares Commercial Real Estate were worth $119,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently made changes to their positions in ACRE. Bank of New York Mellon Corp grew its holdings in shares of Ares Commercial Real Estate by 10.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 206,143 shares of the real estate investment trust’s stock worth $1,371,000 after acquiring an additional 19,626 shares during the last quarter. Access Investment Management LLC increased its stake in Ares Commercial Real Estate by 15.5% in the 2nd quarter. Access Investment Management LLC now owns 85,700 shares of the real estate investment trust’s stock worth $570,000 after purchasing an additional 11,500 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in Ares Commercial Real Estate during the 2nd quarter worth about $68,000. Van ECK Associates Corp lifted its stake in Ares Commercial Real Estate by 26.9% during the second quarter. Van ECK Associates Corp now owns 524,694 shares of the real estate investment trust’s stock valued at $3,489,000 after buying an additional 111,194 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Ares Commercial Real Estate by 2.1% in the second quarter. Rhumbline Advisers now owns 86,466 shares of the real estate investment trust’s stock worth $575,000 after buying an additional 1,797 shares during the period. Institutional investors and hedge funds own 41.34% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the stock. JMP Securities restated a “market perform” rating on shares of Ares Commercial Real Estate in a report on Monday, December 9th. Wells Fargo & Company downgraded shares of Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $7.50 to $7.00 in a research note on Friday, September 20th. Finally, JPMorgan Chase & Co. decreased their target price on Ares Commercial Real Estate from $7.00 to $6.50 and set a “neutral” rating for the company in a research report on Thursday, October 17th. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.10.
Ares Commercial Real Estate Trading Up 0.3 %
Ares Commercial Real Estate stock opened at $7.19 on Friday. Ares Commercial Real Estate Co. has a 12 month low of $6.25 and a 12 month high of $11.24. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.38. The stock has a market cap of $392.14 million, a P/E ratio of -6.09 and a beta of 1.48. The company’s fifty day simple moving average is $6.85 and its 200-day simple moving average is $7.02.
Ares Commercial Real Estate Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.25 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 13.91%. Ares Commercial Real Estate’s dividend payout ratio (DPR) is currently -84.75%.
Ares Commercial Real Estate Company Profile
Ares Commercial Real Estate Corporation, a specialty finance company, originates and invests in commercial real estate (CRE) loans and related investments in the United States. It provides a range of financing solutions for the owners, operators, and sponsors of CRE properties. The company originates senior mortgage loans, subordinate debt and preferred equity products, mezzanine loans, and other CRE investments, including commercial mortgage-backed securities.
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