Dana Investment Advisors Inc. Sells 7,336 Shares of Ares Commercial Real Estate Co. (NYSE:ACRE)

Dana Investment Advisors Inc. reduced its stake in shares of Ares Commercial Real Estate Co. (NYSE:ACRE) by 1.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 546,205 shares of the real estate investment trust’s stock after selling 7,336 shares during the period. Dana Investment Advisors Inc. owned about 1.00% of Ares Commercial Real Estate worth $3,632,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. MGO One Seven LLC grew its holdings in Ares Commercial Real Estate by 2,609.3% during the fourth quarter. MGO One Seven LLC now owns 570,331 shares of the real estate investment trust’s stock valued at $5,909,000 after purchasing an additional 549,280 shares during the period. Prevail Innovative Wealth Advisors LLC purchased a new position in Ares Commercial Real Estate in the 2nd quarter valued at approximately $894,000. Vanguard Group Inc. raised its holdings in Ares Commercial Real Estate by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 2,783,379 shares of the real estate investment trust’s stock valued at $20,736,000 after acquiring an additional 34,611 shares during the period. Van ECK Associates Corp boosted its holdings 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 worth $3,489,000 after acquiring an additional 111,194 shares during the period. Finally, Virtu Financial LLC purchased a new position in shares of Ares Commercial Real Estate in the first quarter valued at $108,000. Hedge funds and other institutional investors own 41.34% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ACRE. BTIG Research restated a “neutral” rating on shares of Ares Commercial Real Estate in a research note on Friday, July 19th. Wells Fargo & Company lowered shares of Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $7.50 to $7.00 in a research report on Friday, September 20th. Finally, StockNews.com lowered shares of Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a report on Thursday, August 15th. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $7.20.

Ares Commercial Real Estate Stock Down 2.9 %

ACRE stock opened at $6.80 on Wednesday. Ares Commercial Real Estate Co. has a 1-year low of $6.36 and a 1-year high of $11.24. The stock has a market cap of $370.65 million, a price-to-earnings ratio of -8.19 and a beta of 1.45. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.32. The company’s 50 day moving average is $7.17 and its 200 day moving average is $7.08.

Ares Commercial Real Estate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 14.71%. Ares Commercial Real Estate’s dividend payout ratio (DPR) is presently -120.48%.

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.