Ares Commercial Real Estate Co. (NYSE:ACRE – Get Rating) VP Anton Feingold sold 3,166 shares of the stock in a transaction that occurred on Tuesday, January 10th. The shares were sold at an average price of $10.87, for a total transaction of $34,414.42. Following the transaction, the vice president now owns 53,865 shares in the company, valued at approximately $585,512.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Ares Commercial Real Estate Stock Performance
ACRE stock traded up $0.25 during midday trading on Thursday, reaching $11.31. 1,011,142 shares of the company’s stock traded hands, compared to its average volume of 761,548. Ares Commercial Real Estate Co. has a 52-week low of $9.90 and a 52-week high of $16.48. The stock has a market cap of $615.75 million, a P/E ratio of 12.43 and a beta of 1.33. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 2.37. The stock’s 50-day moving average is $11.48 and its 200 day moving average is $12.15.
Ares Commercial Real Estate Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 18th. Stockholders of record on Friday, December 30th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, December 29th. This is a boost from Ares Commercial Real Estate’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a dividend yield of 12.38%. Ares Commercial Real Estate’s dividend payout ratio is 145.05%.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on ACRE shares. JMP Securities lowered their price objective on shares of Ares Commercial Real Estate from $15.00 to $13.50 and set a “market outperform” rating on the stock in a research report on Friday, October 14th. StockNews.com started coverage on shares of Ares Commercial Real Estate in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Raymond James lowered their price objective on shares of Ares Commercial Real Estate from $15.00 to $13.50 and set an “outperform” rating on the stock in a research report on Tuesday, October 18th. JPMorgan Chase & Co. lowered their price objective on shares of Ares Commercial Real Estate from $13.50 to $12.00 and set a “neutral” rating on the stock in a research report on Monday, October 24th. Finally, Bank of America reaffirmed a “buy” rating and set a $13.00 target price on shares of Ares Commercial Real Estate in a report on Monday, October 31st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $13.25.
Institutional Trading of Ares Commercial Real Estate
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp increased its stake in shares of Ares Commercial Real Estate by 17.9% in the third quarter. Bank of New York Mellon Corp now owns 195,984 shares of the real estate investment trust’s stock worth $2,047,000 after purchasing an additional 29,798 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Ares Commercial Real Estate by 2.7% in the third quarter. California State Teachers Retirement System now owns 64,768 shares of the real estate investment trust’s stock worth $677,000 after purchasing an additional 1,723 shares in the last quarter. Captrust Financial Advisors increased its stake in shares of Ares Commercial Real Estate by 35.9% in the third quarter. Captrust Financial Advisors now owns 34,676 shares of the real estate investment trust’s stock worth $362,000 after purchasing an additional 9,155 shares in the last quarter. Balyasny Asset Management LLC increased its stake in shares of Ares Commercial Real Estate by 605.8% in the third quarter. Balyasny Asset Management LLC now owns 619,937 shares of the real estate investment trust’s stock worth $6,478,000 after purchasing an additional 532,103 shares in the last quarter. Finally, BNP Paribas Arbitrage SNC increased its stake in shares of Ares Commercial Real Estate by 240.5% in the third quarter. BNP Paribas Arbitrage SNC now owns 48,222 shares of the real estate investment trust’s stock worth $504,000 after purchasing an additional 34,059 shares in the last quarter. 46.63% of the stock is owned by hedge funds and other institutional investors.
Ares Commercial Real Estate Company Profile
(Get Rating)
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. The company provides a range of financing solutions for the owners, operators, and sponsors of CRE properties. It originates senior mortgage loans, subordinate debt products, mezzanine loans, real estate preferred equity investments, and other CRE investments, including commercial mortgage backed securities.
Further Reading
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