Anton Feingold Sells 5,890 Shares of Ares Commercial Real Estate Co. (NYSE:ACRE) Stock

Ares Commercial Real Estate Co. (NYSE:ACREGet Free Report) VP Anton Feingold sold 5,890 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $10.37, for a total transaction of $61,079.30. Following the completion of the transaction, the vice president now owns 68,975 shares of the company’s stock, valued at approximately $715,270.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Ares Commercial Real Estate Stock Performance

NYSE:ACRE opened at $9.52 on Thursday. Ares Commercial Real Estate Co. has a twelve month low of $7.52 and a twelve month high of $12.74. The company has a current ratio of 21.43, a quick ratio of 21.43 and a debt-to-equity ratio of 2.25. The company has a 50-day moving average of $10.31 and a 200-day moving average of $10.07. The firm has a market cap of $515.41 million, a price-to-earnings ratio of 158.69 and a beta of 1.48.

Ares Commercial Real Estate Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 17th. Stockholders of record on Friday, December 29th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $1.32 annualized dividend and a dividend yield of 13.87%. Ares Commercial Real Estate’s dividend payout ratio (DPR) is 2,200.37%.

Hedge Funds Weigh In On Ares Commercial Real Estate

Several large investors have recently made changes to their positions in ACRE. Raymond James Financial Services Advisors Inc. boosted its position in shares of Ares Commercial Real Estate by 28.6% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 96,443 shares of the real estate investment trust’s stock valued at $1,497,000 after purchasing an additional 21,438 shares in the last quarter. HighTower Advisors LLC lifted its stake in Ares Commercial Real Estate by 141.5% during the first quarter. HighTower Advisors LLC now owns 43,713 shares of the real estate investment trust’s stock valued at $678,000 after buying an additional 25,611 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Ares Commercial Real Estate by 3,015.9% during the first quarter. PNC Financial Services Group Inc. now owns 43,000 shares of the real estate investment trust’s stock valued at $668,000 after buying an additional 41,620 shares in the last quarter. MetLife Investment Management LLC lifted its stake in Ares Commercial Real Estate by 57.9% during the first quarter. MetLife Investment Management LLC now owns 21,275 shares of the real estate investment trust’s stock valued at $330,000 after buying an additional 7,805 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its stake in Ares Commercial Real Estate by 6.6% during the first quarter. Great West Life Assurance Co. Can now owns 25,266 shares of the real estate investment trust’s stock valued at $394,000 after buying an additional 1,557 shares in the last quarter. Institutional investors own 38.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ACRE shares. UBS Group started coverage on shares of Ares Commercial Real Estate in a research report on Wednesday, December 6th. They issued a “neutral” rating and a $10.50 target price for the company. StockNews.com started coverage on shares of Ares Commercial Real Estate in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Finally, JMP Securities lowered shares of Ares Commercial Real Estate from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 5th. Seven equities research analysts have rated the stock with a hold rating, According to MarketBeat, Ares Commercial Real Estate currently has an average rating of “Hold” and a consensus price target of $10.42.

Check Out Our Latest Analysis on ACRE

About Ares Commercial Real Estate

(Get Free Report)

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.

Recommended Stories

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.