Summit Securities Group LLC Has $39,000 Stake in Ares Commercial Real Estate Co. (NYSE:ACRE)

Summit Securities Group LLC increased its stake in Ares Commercial Real Estate Co. (NYSE:ACRE) by 139.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,700 shares of the real estate investment trust’s stock after purchasing an additional 3,905 shares during the period. Summit Securities Group LLC’s holdings in Ares Commercial Real Estate were worth $39,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in ACRE. BNP Paribas Financial Markets lifted its position in shares of Ares Commercial Real Estate by 17.1% in the third quarter. BNP Paribas Financial Markets now owns 11,733 shares of the real estate investment trust’s stock worth $82,000 after purchasing an additional 1,711 shares in the last quarter. Intech Investment Management LLC increased its stake in Ares Commercial Real Estate by 21.5% in the 4th quarter. Intech Investment Management LLC now owns 16,635 shares of the real estate investment trust’s stock valued at $98,000 after buying an additional 2,943 shares during the last quarter. CFO4Life Group LLC lifted its position in Ares Commercial Real Estate by 21.4% during the 4th quarter. CFO4Life Group LLC now owns 17,000 shares of the real estate investment trust’s stock worth $100,000 after buying an additional 3,000 shares in the last quarter. Bright Futures Wealth Management LLC. boosted its stake in shares of Ares Commercial Real Estate by 4.7% during the 4th quarter. Bright Futures Wealth Management LLC. now owns 96,364 shares of the real estate investment trust’s stock worth $543,000 after buying an additional 4,369 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of Ares Commercial Real Estate by 211.0% in the 3rd quarter. FMR LLC now owns 7,741 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 5,252 shares in the last quarter. Institutional investors own 41.34% of the company’s stock.

Insider Activity at Ares Commercial Real Estate

In related news, VP Anton Feingold sold 7,615 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $5.68, for a total value of $43,253.20. Following the completion of the sale, the vice president now directly owns 78,360 shares in the company, valued at $445,084.80. The trade was a 8.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.80% of the stock is owned by company insiders.

Ares Commercial Real Estate Trading Down 1.8 %

Shares of Ares Commercial Real Estate stock opened at $4.70 on Monday. Ares Commercial Real Estate Co. has a 1 year low of $4.61 and a 1 year high of $7.99. The company has a market capitalization of $257.55 million, a price-to-earnings ratio of -7.22 and a beta of 1.57. The business has a fifty day simple moving average of $5.20 and a two-hundred day simple moving average of $6.17. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.87 and a quick ratio of 0.87.

Ares Commercial Real Estate Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 12.78%. The ex-dividend date of this dividend is Monday, March 31st. Ares Commercial Real Estate’s payout ratio is -92.31%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ACRE shares. StockNews.com upgraded Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a report on Tuesday, December 17th. JMP Securities reissued a “market perform” rating on shares of Ares Commercial Real Estate in a report on Thursday, February 13th. UBS Group decreased their target price on shares of Ares Commercial Real Estate from $6.00 to $5.25 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. JPMorgan Chase & Co. cut their price target on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a “market perform” rating for the company in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $5.81.

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.