Creative Planning Sells 12,003 Shares of Ares Commercial Real Estate Co. (NYSE:ACRE)

Creative Planning trimmed its position in Ares Commercial Real Estate Co. (NYSE:ACRE) by 34.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,186 shares of the real estate investment trust’s stock after selling 12,003 shares during the period. Creative Planning’s holdings in Ares Commercial Real Estate were worth $162,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ACRE. Ameritas Advisory Services LLC bought a new stake in Ares Commercial Real Estate during the 2nd quarter worth approximately $68,000. XTX Topco Ltd bought a new stake in Ares Commercial Real Estate during the 2nd quarter worth approximately $82,000. EntryPoint Capital LLC bought a new stake in Ares Commercial Real Estate during the 1st quarter worth approximately $84,000. Quest Partners LLC increased its holdings in Ares Commercial Real Estate by 1,329,500.0% during the 2nd quarter. Quest Partners LLC now owns 13,296 shares of the real estate investment trust’s stock worth $88,000 after purchasing an additional 13,295 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in Ares Commercial Real Estate during the 1st quarter worth approximately $108,000. 41.34% of the stock is owned by institutional investors.

Ares Commercial Real Estate Price Performance

Ares Commercial Real Estate stock opened at $7.21 on Tuesday. The company has a market cap of $393.09 million, a price-to-earnings ratio of -6.11 and a beta of 1.46. The business’s 50 day simple moving average is $6.88 and its 200 day simple moving average is $6.98. Ares Commercial Real Estate Co. has a 12 month low of $6.25 and a 12 month high of $11.24. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.32.

Ares Commercial Real Estate Announces Dividend

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 issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 13.87%. The ex-dividend date of this dividend is Tuesday, December 31st. Ares Commercial Real Estate’s payout ratio is currently -84.75%.

Wall Street Analysts Forecast Growth

ACRE has been the subject of a number of recent research reports. JPMorgan Chase & Co. decreased their price objective on Ares Commercial Real Estate from $7.00 to $6.50 and set a “neutral” rating for the company in a report on Thursday, October 17th. BTIG Research restated a “neutral” rating on shares of Ares Commercial Real Estate in a research note on Friday, July 19th. StockNews.com downgraded Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th. Finally, Wells Fargo & Company downgraded Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $7.50 to $7.00 in a research note on Friday, September 20th. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $7.10.

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.