Bard Associates Inc. Has $835,000 Stock Position in Ares Commercial Real Estate Co. (NYSE:ACRE)

Bard Associates Inc. decreased its position in shares of Ares Commercial Real Estate Co. (NYSE:ACRE) by 4.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 115,175 shares of the real estate investment trust’s stock after selling 5,353 shares during the quarter. Bard Associates Inc.’s holdings in Ares Commercial Real Estate were worth $835,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ACRE. Prevail Innovative Wealth Advisors LLC bought a new stake in Ares Commercial Real Estate in the second quarter valued at approximately $894,000. Van ECK Associates Corp boosted its stake in Ares Commercial Real Estate by 26.9% in the 2nd quarter. Van ECK Associates Corp now owns 524,694 shares of the real estate investment trust’s stock worth $3,489,000 after purchasing an additional 111,194 shares during the period. Bright Futures Wealth Management LLC. bought a new position in Ares Commercial Real Estate during the 1st quarter worth about $630,000. Curated Wealth Partners LLC lifted its holdings in shares of Ares Commercial Real Estate by 200.0% in the second quarter. Curated Wealth Partners LLC now owns 20,000 shares of the real estate investment trust’s stock valued at $133,000 after purchasing an additional 40,000 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Ares Commercial Real Estate by 1.3% during the first quarter. Vanguard Group Inc. now owns 2,783,379 shares of the real estate investment trust’s stock worth $20,736,000 after buying an additional 34,611 shares during the period. Institutional investors own 41.34% of the company’s stock.

Ares Commercial Real Estate Stock Performance

Shares of ACRE opened at $6.99 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.38. Ares Commercial Real Estate Co. has a 52 week low of $6.25 and a 52 week high of $11.24. The firm’s 50-day simple moving average is $6.89 and its 200 day simple moving average is $6.98.

Ares Commercial Real Estate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 14.31%. The ex-dividend date is Tuesday, December 31st. Ares Commercial Real Estate’s payout ratio is -84.75%.

Analysts Set New Price Targets

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

Ares Commercial Real Estate 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.