Ares Commercial Real Estate Co. (NYSE:ACRE) Short Interest Update

Ares Commercial Real Estate Co. (NYSE:ACRE) was the target of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 1,880,000 shares, an increase of 6.2% from the March 31st total of 1,770,000 shares. Based on an average daily trading volume, of 769,300 shares, the short-interest ratio is currently 2.4 days.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. UBS Group cut their price target on Ares Commercial Real Estate from $10.50 to $8.00 and set a “neutral” rating for the company in a report on Wednesday, March 20th. JPMorgan Chase & Co. cut their target price on shares of Ares Commercial Real Estate from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, April 10th. TheStreet lowered shares of Ares Commercial Real Estate from a “c-” rating to a “d+” rating in a research note on Tuesday, March 5th. Keefe, Bruyette & Woods cut their price objective on shares of Ares Commercial Real Estate from $8.00 to $7.50 and set a “market perform” rating for the company in a research report on Wednesday, April 10th. Finally, Bank of America restated an “underperform” rating and set a $7.00 price objective (down previously from $11.00) on shares of Ares Commercial Real Estate in a report on Monday, March 4th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $8.79.

Ares Commercial Real Estate Price Performance

Shares of Ares Commercial Real Estate stock opened at $6.93 on Thursday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 2.42. The stock has a market capitalization of $377.13 million, a price-to-earnings ratio of -9.62 and a beta of 1.41. Ares Commercial Real Estate has a twelve month low of $6.36 and a twelve month high of $11.24. The company has a 50-day simple moving average of $7.28 and a two-hundred day simple moving average of $8.93.

Ares Commercial Real Estate Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Thursday, March 28th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 14.43%. The ex-dividend date of this dividend was Wednesday, March 27th. Ares Commercial Real Estate’s dividend payout ratio is currently -138.89%.

Insider Buying and Selling

In other news, CEO Bryan Patrick Donohoe bought 3,509 shares of the company’s stock in a transaction dated Sunday, March 10th. The shares were bought at an average cost of $14.32 per share, with a total value of $50,248.88. Following the acquisition, the chief executive officer now owns 41,259 shares in the company, valued at $590,828.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ares Commercial Real Estate

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Ares Commercial Real Estate by 11.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 790,404 shares of the real estate investment trust’s stock worth $5,889,000 after purchasing an additional 81,534 shares in the last quarter. MGO One Seven LLC grew its stake 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 worth $5,909,000 after buying an additional 549,280 shares in the last quarter. Relative Value Partners Group LLC raised its position in shares of Ares Commercial Real Estate by 1.6% in the 4th quarter. Relative Value Partners Group LLC now owns 416,194 shares of the real estate investment trust’s stock valued at $4,312,000 after buying an additional 6,588 shares in the last quarter. Van ECK Associates Corp lifted its stake in Ares Commercial Real Estate by 7.1% during the first quarter. Van ECK Associates Corp now owns 413,500 shares of the real estate investment trust’s stock worth $3,081,000 after purchasing an additional 27,321 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Ares Commercial Real Estate by 33.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 136,850 shares of the real estate investment trust’s stock worth $1,418,000 after acquiring an additional 34,491 shares during the last quarter. 41.34% of the stock is owned by institutional investors and hedge funds.

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.