Ares Commercial Real Estate Co. (NYSE:ACRE) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. trimmed its stake in shares of Ares Commercial Real Estate Co. (NYSE:ACRE) by 2.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 127,290 shares of the real estate investment trust’s stock after selling 3,193 shares during the period. Advisors Asset Management Inc.’s holdings in Ares Commercial Real Estate were worth $891,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Victory Capital Management Inc. grew its position in Ares Commercial Real Estate by 4.3% during the 3rd quarter. Victory Capital Management Inc. now owns 88,093 shares of the real estate investment trust’s stock worth $617,000 after purchasing an additional 3,593 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Ares Commercial Real Estate by 57.3% during the third quarter. Nisa Investment Advisors LLC now owns 31,267 shares of the real estate investment trust’s stock valued at $227,000 after buying an additional 11,388 shares in the last quarter. Inspire Investing LLC grew its holdings in shares of Ares Commercial Real Estate by 8.8% during the third quarter. Inspire Investing LLC now owns 58,181 shares of the real estate investment trust’s stock valued at $407,000 after buying an additional 4,714 shares in the last quarter. Strategic Wealth Partners Ltd. lifted its stake in Ares Commercial Real Estate by 11.1% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 20,000 shares of the real estate investment trust’s stock worth $140,000 after acquiring an additional 2,000 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Ares Commercial Real Estate during the 3rd quarter valued at about $147,000. Institutional investors and hedge funds own 41.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. StockNews.com downgraded Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. cut their target price on shares of Ares Commercial Real Estate from $7.00 to $6.50 and set a “neutral” rating for the company in a research report on Thursday, October 17th. Finally, Wells Fargo & Company cut shares of Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $7.50 to $7.00 in a report 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $7.10.

Ares Commercial Real Estate Stock Down 1.0 %

Ares Commercial Real Estate stock opened at $7.22 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.38. The company has a market capitalization of $393.79 million, a P/E ratio of -6.12 and a beta of 1.46. Ares Commercial Real Estate Co. has a 1-year low of $6.25 and a 1-year high of $11.24. The firm’s fifty day simple moving average is $6.87 and its 200-day simple moving average is $6.99.

Ares Commercial Real Estate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 13.85%. The ex-dividend date is Tuesday, December 31st. Ares Commercial Real Estate’s dividend payout ratio is -84.75%.

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.