State Street Corp Has $7.63 Million Stock Position in Ares Commercial Real Estate Co. (NYSE:ACRE)

State Street Corp grew its stake in shares of Ares Commercial Real Estate Co. (NYSE:ACRE) by 2.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,052,314 shares of the real estate investment trust’s stock after acquiring an additional 23,845 shares during the period. State Street Corp owned 1.93% of Ares Commercial Real Estate worth $7,627,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ACRE. FMR LLC lifted its holdings in Ares Commercial Real Estate by 211.0% during the 3rd quarter. FMR LLC now owns 7,741 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 5,252 shares during the last quarter. Prevail Innovative Wealth Advisors LLC acquired a new stake in shares of Ares Commercial Real Estate during the second quarter worth $894,000. Victory Capital Management Inc. boosted its position in shares of Ares Commercial Real Estate by 4.3% in the third quarter. Victory Capital Management Inc. now owns 88,093 shares of the real estate investment trust’s stock valued at $617,000 after acquiring an additional 3,593 shares during the period. Van ECK Associates Corp grew its stake in shares of Ares Commercial Real Estate by 26.9% in 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 acquiring an additional 111,194 shares in the last quarter. Finally, BNP Paribas Financial Markets increased 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 worth $82,000 after acquiring an additional 1,711 shares during the period. Institutional investors own 41.34% of the company’s stock.

Analysts Set New Price Targets

ACRE has been the topic of a number of analyst reports. Wells Fargo & Company lowered shares of Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $7.50 to $7.00 in a research report on Friday, September 20th. StockNews.com upgraded Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research note on Tuesday, December 17th. JMP Securities reiterated a “market perform” rating on shares of Ares Commercial Real Estate in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. decreased their price target on Ares Commercial Real Estate from $7.00 to $6.50 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $7.10.

Ares Commercial Real Estate Price Performance

Shares of ACRE stock opened at $6.11 on Friday. The business has a fifty day simple moving average of $6.79 and a 200 day simple moving average of $6.98. The company has a market cap of $333.25 million, a P/E ratio of -5.18 and a beta of 1.48. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.38. Ares Commercial Real Estate Co. has a twelve month low of $6.02 and a twelve month high of $10.84.

Ares Commercial Real Estate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders 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 dividend yield of 16.37%. Ares Commercial Real Estate’s payout ratio is currently -84.75%.

Ares Commercial Real Estate 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.