Ares Commercial Real Estate Co. (NYSE:ACRE) Short Interest Down 9.2% in January

Ares Commercial Real Estate Co. (NYSE:ACRE) was the target of a significant drop in short interest in January. As of January 31st, there was short interest totalling 1,480,000 shares, a drop of 9.2% from the January 15th total of 1,630,000 shares. Based on an average daily trading volume, of 591,000 shares, the days-to-cover ratio is presently 2.5 days.

Ares Commercial Real Estate Stock Down 0.5 %

Shares of NYSE ACRE opened at $5.06 on Tuesday. Ares Commercial Real Estate has a one year low of $5.01 and a one year high of $8.59. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.87 and a quick ratio of 0.87. The business’s fifty day moving average price is $5.97 and its 200-day moving average price is $6.60. The stock has a market capitalization of $275.70 million, a PE ratio of -4.28 and a beta of 1.50.

Ares Commercial Real Estate Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 11.87%. Ares Commercial Real Estate’s payout ratio is -84.75%.

Insider Activity at Ares Commercial Real Estate

In other news, VP Anton Feingold sold 7,615 shares of Ares Commercial Real Estate stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $5.68, for a total transaction of $43,253.20. Following the sale, the vice president now directly owns 78,360 shares of the company’s stock, valued at approximately $445,084.80. This trade represents a 8.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.80% of the stock is currently owned by insiders.

Institutional Trading of Ares Commercial Real Estate

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its stake in shares of Ares Commercial Real Estate by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,272,163 shares of the real estate investment trust’s stock valued at $8,907,000 after purchasing an additional 16,309 shares during the period. State Street Corp increased its stake in Ares Commercial Real Estate by 2.3% in the 3rd quarter. State Street Corp now owns 1,052,314 shares of the real estate investment trust’s stock worth $7,627,000 after acquiring an additional 23,845 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of Ares Commercial Real Estate by 1.0% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 861,390 shares of the real estate investment trust’s stock valued at $6,030,000 after purchasing an additional 8,900 shares during the last quarter. Northern Trust Corp increased its position in shares of Ares Commercial Real Estate by 32.3% during the 4th quarter. Northern Trust Corp now owns 605,491 shares of the real estate investment trust’s stock valued at $3,566,000 after purchasing an additional 147,990 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Ares Commercial Real Estate by 19.5% during the 4th quarter. Van ECK Associates Corp now owns 591,036 shares of the real estate investment trust’s stock valued at $3,481,000 after purchasing an additional 96,551 shares during the last quarter. 41.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ACRE. JPMorgan Chase & Co. cut their price target on Ares Commercial Real Estate from $6.00 to $5.50 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. JMP Securities reiterated a “market perform” rating on shares of Ares Commercial Real Estate in a report on Thursday, February 13th. Keefe, Bruyette & Woods lowered their target price on Ares Commercial Real Estate from $6.00 to $5.50 and set a “market perform” rating for the company in a report on Thursday, February 13th. Finally, StockNews.com raised Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research report on Tuesday, December 17th. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $6.60.

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.