Strs Ohio Grows Stock Position in Ares Commercial Real Estate Co. (NYSE:ACRE)

Strs Ohio raised its holdings in Ares Commercial Real Estate Co. (NYSE:ACREGet Rating) by 16.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 11,800 shares of the real estate investment trust’s stock after acquiring an additional 1,700 shares during the quarter. Strs Ohio’s holdings in Ares Commercial Real Estate were worth $123,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in shares of Ares Commercial Real Estate by 52.1% in the second quarter. JPMorgan Chase & Co. now owns 1,952,740 shares of the real estate investment trust’s stock worth $23,881,000 after purchasing an additional 668,656 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Ares Commercial Real Estate in the second quarter worth about $8,022,000. State Street Corp raised its stake in shares of Ares Commercial Real Estate by 22.2% in the first quarter. State Street Corp now owns 1,121,158 shares of the real estate investment trust’s stock worth $17,772,000 after purchasing an additional 204,054 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of Ares Commercial Real Estate in the second quarter worth about $758,000. Finally, Cetera Advisor Networks LLC purchased a new position in shares of Ares Commercial Real Estate in the second quarter worth about $565,000. 46.63% of the stock is currently owned by hedge funds and other institutional investors.

Ares Commercial Real Estate Stock Up 2.3 %

Shares of ACRE opened at $11.72 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 2.37. Ares Commercial Real Estate Co. has a 12 month low of $9.90 and a 12 month high of $16.48. The stock’s 50 day moving average is $11.42 and its two-hundred day moving average is $12.11. The firm has a market cap of $638.07 million, a P/E ratio of 12.88 and a beta of 1.33.

Ares Commercial Real Estate Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 18th. Shareholders of record on Friday, December 30th were issued a $0.35 dividend. This is a positive change from Ares Commercial Real Estate’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a yield of 11.95%. The ex-dividend date was Thursday, December 29th. Ares Commercial Real Estate’s dividend payout ratio (DPR) is presently 145.05%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Bank of America restated a “buy” rating and issued a $13.00 price objective on shares of Ares Commercial Real Estate in a research note on Monday, October 31st. BTIG Research dropped their target price on Ares Commercial Real Estate from $16.50 to $14.00 in a report on Wednesday, November 2nd. StockNews.com initiated coverage on Ares Commercial Real Estate in a report on Wednesday, October 12th. They set a “hold” rating on the stock. JPMorgan Chase & Co. dropped their target price on Ares Commercial Real Estate from $13.50 to $12.00 and set a “neutral” rating on the stock in a report on Monday, October 24th. Finally, Raymond James dropped their target price on Ares Commercial Real Estate from $15.00 to $13.50 and set an “outperform” rating on the stock in a report on Tuesday, October 18th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $13.25.

Insider Buying and Selling at Ares Commercial Real Estate

In other Ares Commercial Real Estate news, VP Anton Feingold sold 3,166 shares of the firm’s stock in a transaction that occurred on Tuesday, January 10th. The stock was sold at an average price of $10.87, for a total value of $34,414.42. Following the sale, the vice president now directly owns 53,865 shares of the company’s stock, valued at $585,512.55. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Bryan Patrick Donohoe sold 15,072 shares of Ares Commercial Real Estate stock in a transaction that occurred on Tuesday, January 10th. The stock was sold at an average price of $10.91, for a total value of $164,435.52. Following the sale, the chief executive officer now directly owns 157,282 shares of the company’s stock, valued at $1,715,946.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Anton Feingold sold 3,166 shares of Ares Commercial Real Estate stock in a transaction that occurred on Tuesday, January 10th. The stock was sold at an average price of $10.87, for a total value of $34,414.42. Following the completion of the sale, the vice president now directly owns 53,865 shares in the company, valued at $585,512.55. The disclosure for this sale can be found here. 1.95% of the stock is owned by corporate insiders.

Ares Commercial Real Estate Profile

(Get Rating)

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. The company provides a range of financing solutions for the owners, operators, and sponsors of CRE properties. It originates senior mortgage loans, subordinate debt products, mezzanine loans, real estate preferred equity investments, and other CRE investments, including commercial mortgage backed securities.

Featured Articles

Want to see what other hedge funds are holding ACRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ares Commercial Real Estate Co. (NYSE:ACREGet Rating).

Institutional Ownership by Quarter for Ares Commercial Real Estate (NYSE:ACRE)

Receive News & Ratings for Ares Commercial Real Estate Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Commercial Real Estate and related companies with MarketBeat.com's FREE daily email newsletter.