Captrust Financial Advisors Sells 2,480 Shares of Ares Commercial Real Estate Co. (NYSE:ACRE)

Captrust Financial Advisors lessened its position in Ares Commercial Real Estate Co. (NYSE:ACRE) by 11.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,608 shares of the real estate investment trust’s stock after selling 2,480 shares during the period. Captrust Financial Advisors’ holdings in Ares Commercial Real Estate were worth $130,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC lifted its stake in shares of Ares Commercial Real Estate by 211.0% in the third quarter. FMR LLC now owns 7,741 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 5,252 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in shares of Ares Commercial Real Estate in the second quarter worth approximately $68,000. XTX Topco Ltd bought a new position in Ares Commercial Real Estate during the second quarter valued at approximately $82,000. BNP Paribas Financial Markets lifted its position in Ares Commercial Real Estate by 17.1% during the third quarter. BNP Paribas Financial Markets now owns 11,733 shares of the real estate investment trust’s stock valued at $82,000 after purchasing an additional 1,711 shares during the period. Finally, Quest Partners LLC grew its position in Ares Commercial Real Estate by 1,329,500.0% in the 2nd quarter. Quest Partners LLC now owns 13,296 shares of the real estate investment trust’s stock worth $88,000 after purchasing an additional 13,295 shares during the period. Institutional investors own 41.34% of the company’s stock.

Ares Commercial Real Estate Price Performance

Shares of ACRE stock opened at $6.84 on Tuesday. Ares Commercial Real Estate Co. has a 52-week low of $6.25 and a 52-week high of $11.24. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market capitalization of $373.07 million, a P/E ratio of -5.80 and a beta of 1.48. The stock has a 50 day moving average price of $6.85 and a 200 day moving average price of $7.03.

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 given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 14.62%. The ex-dividend date of this dividend is Tuesday, December 31st. Ares Commercial Real Estate’s dividend payout ratio (DPR) is presently -84.75%.

Analysts Set New Price Targets

A number of research firms have commented on ACRE. JPMorgan Chase & Co. cut their target price on shares of 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. 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 stock from $7.50 to $7.00 in a research report on Friday, September 20th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Ares Commercial Real Estate in a research report on Monday, December 9th. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $7.10.

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.