Jump Financial LLC Increases Stock Position in Ares Commercial Real Estate Co. (NYSE:ACRE)

Jump Financial LLC boosted its stake in Ares Commercial Real Estate Co. (NYSE:ACREFree Report) by 36.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,846 shares of the real estate investment trust’s stock after purchasing an additional 17,291 shares during the quarter. Jump Financial LLC’s holdings in Ares Commercial Real Estate were worth $617,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Millennium Management LLC bought a new position in shares of Ares Commercial Real Estate during the second quarter valued at approximately $8,022,000. Balyasny Asset Management LLC boosted its stake in Ares Commercial Real Estate by 605.8% in the third quarter. Balyasny Asset Management LLC now owns 619,937 shares of the real estate investment trust’s stock valued at $6,478,000 after acquiring an additional 532,103 shares in the last quarter. Wellington Management Group LLP boosted its stake in Ares Commercial Real Estate by 62.3% in the first quarter. Wellington Management Group LLP now owns 1,145,612 shares of the real estate investment trust’s stock valued at $10,414,000 after acquiring an additional 439,585 shares in the last quarter. BlackRock Inc. boosted its stake in Ares Commercial Real Estate by 8.6% in the third quarter. BlackRock Inc. now owns 4,294,662 shares of the real estate investment trust’s stock valued at $44,879,000 after acquiring an additional 339,231 shares in the last quarter. Finally, State Street Corp raised its holdings 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 buying an additional 204,054 shares during the last quarter. Hedge funds and other institutional investors own 38.37% of the company’s stock.

Ares Commercial Real Estate Trading Down 1.2 %

Shares of Ares Commercial Real Estate stock opened at $8.67 on Friday. The company has a debt-to-equity ratio of 2.25, a current ratio of 21.43 and a quick ratio of 21.43. The firm has a fifty day moving average price of $10.21 and a 200 day moving average price of $10.00. Ares Commercial Real Estate Co. has a 1 year low of $7.52 and a 1 year high of $12.13. The stock has a market cap of $469.12 million, a PE ratio of 144.44 and a beta of 1.48.

Analysts Set New Price Targets

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

Get Our Latest Stock Report on ACRE

Insider Buying and Selling

In related news, CEO Bryan Patrick Donohoe sold 18,868 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $10.32, for a total transaction of $194,717.76. Following the completion of the transaction, the chief executive officer now owns 197,414 shares of the company’s stock, valued at $2,037,312.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Bryan Patrick Donohoe sold 18,868 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $10.32, for a total transaction of $194,717.76. Following the sale, the chief executive officer now owns 197,414 shares in the company, valued at $2,037,312.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Anton Feingold sold 5,890 shares of Ares Commercial Real Estate 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 sale, the vice president now owns 68,975 shares in the company, valued at approximately $715,270.75. The disclosure for this sale can be found here. 1.95% of the stock is currently owned by corporate insiders.

Ares Commercial Real Estate Profile

(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.

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

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