Ares Commercial Real Estate Co. (NYSE:ACRE) Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund increased its holdings in shares of Ares Commercial Real Estate Co. (NYSE:ACRE) by 160.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,838 shares of the real estate investment trust’s stock after acquiring an additional 7,300 shares during the period. New York State Common Retirement Fund’s holdings in Ares Commercial Real Estate were worth $70,000 as of its most recent SEC filing.

Other institutional investors have also recently 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 worth $2,907,000 after buying an additional 270,791 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Ares Commercial Real Estate by 19.5% during the 4th quarter. Van ECK Associates Corp now owns 591,036 shares of the real estate investment trust’s stock worth $3,481,000 after purchasing an additional 96,551 shares during the last quarter. Barclays PLC boosted its holdings in shares of 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 purchasing an additional 51,435 shares during the last quarter. Centiva Capital LP acquired a new position in shares of Ares Commercial Real Estate during the 3rd quarter worth approximately $253,000. Finally, Penserra Capital Management LLC boosted its holdings in shares of Ares Commercial Real Estate by 23.0% during the 3rd quarter. Penserra Capital Management LLC now owns 149,365 shares of the real estate investment trust’s stock worth $1,045,000 after purchasing an additional 27,900 shares during the last quarter. 41.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. JMP Securities restated a “market perform” rating on shares of Ares Commercial Real Estate in a report on Thursday, February 13th. JPMorgan Chase & Co. lowered their target price on Ares Commercial Real Estate from $6.00 to $5.50 and set a “neutral” rating on the stock in a report on Thursday, February 13th. StockNews.com upgraded Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a report on Tuesday, December 17th. Keefe, Bruyette & Woods reduced their price target 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 report on Thursday, February 13th. Finally, UBS Group reduced their price target on shares of Ares Commercial Real Estate from $6.00 to $5.25 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $5.81.

Ares Commercial Real Estate Stock Up 1.0 %

ACRE stock opened at $4.78 on Friday. The firm has a market cap of $261.94 million, a PE ratio of -7.35 and a beta of 1.50. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.87 and a current ratio of 0.87. The firm’s 50 day moving average price is $5.55 and its 200-day moving average price is $6.44. Ares Commercial Real Estate Co. has a one year low of $4.63 and a one year high of $7.99.

Ares Commercial Real Estate Cuts Dividend

The company 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. This represents a $0.60 dividend on an annualized basis and a yield of 12.57%. The ex-dividend date of this dividend is Monday, March 31st. Ares Commercial Real Estate’s payout ratio is -92.31%.

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 business’s stock in a transaction on Friday, January 31st. The shares were 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 in the company, valued at $445,084.80. The trade was a 8.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.80% of the stock is owned by corporate insiders.

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.