Van ECK Associates Corp Acquires 96,551 Shares of Ares Commercial Real Estate Co. (NYSE:ACRE)

Van ECK Associates Corp lifted its position in shares of Ares Commercial Real Estate Co. (NYSE:ACRE) by 19.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 591,036 shares of the real estate investment trust’s stock after purchasing an additional 96,551 shares during the period. Van ECK Associates Corp owned 1.08% of Ares Commercial Real Estate worth $3,481,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in Ares Commercial Real Estate by 187.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 415,332 shares of the real estate investment trust’s stock valued at $2,907,000 after purchasing an additional 270,791 shares during the period. Geode Capital Management LLC boosted its stake in shares of Ares Commercial Real Estate by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,272,163 shares of the real estate investment trust’s stock valued at $8,907,000 after buying an additional 16,309 shares during the period. FMR LLC boosted 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 valued at $54,000 after buying an additional 5,252 shares during the period. State Street Corp grew its position in Ares Commercial Real Estate by 2.3% during the third quarter. State Street Corp now owns 1,052,314 shares of the real estate investment trust’s stock worth $7,627,000 after buying an additional 23,845 shares in the last quarter. Finally, Barclays PLC increased its stake in Ares Commercial Real Estate by 279.8% during the 3rd quarter. Barclays PLC now owns 69,821 shares of the real estate investment trust’s stock worth $489,000 after acquiring an additional 51,435 shares during the period. 41.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their target price on Ares Commercial Real Estate from $6.00 to $5.50 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Keefe, Bruyette & Woods reduced their price objective on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a “market perform” rating on the stock in a research note on Thursday, February 13th. StockNews.com upgraded shares of Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, JMP Securities reiterated a “market perform” rating on shares of Ares Commercial Real Estate in a research report on Thursday, February 13th. Two analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.60.

Ares Commercial Real Estate Stock Up 0.6 %

ACRE stock opened at $5.08 on Thursday. The stock has a market capitalization of $278.80 million, a P/E ratio of -7.82 and a beta of 1.50. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.17. The firm has a 50-day moving average price of $5.89 and a 200-day moving average price of $6.58. Ares Commercial Real Estate Co. has a 12 month low of $4.91 and a 12 month high of $8.39.

Ares Commercial Real Estate Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.15 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.60 dividend on an annualized basis and a yield of 11.81%. Ares Commercial Real Estate’s dividend payout ratio is currently -153.84%.

Insider Buying and Selling at Ares Commercial Real Estate

In other Ares Commercial Real Estate news, VP Anton Feingold sold 7,615 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $5.68, for a total value of $43,253.20. Following the completion of the transaction, the vice president now owns 78,360 shares of the company’s stock, valued at $445,084.80. This represents a 8.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.80% of the company’s stock.

About Ares Commercial Real Estate

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.