Raymond James & Associates Decreases Stock Holdings in Ares Commercial Real Estate Co. (NYSE:ACRE)

Raymond James & Associates trimmed its position in Ares Commercial Real Estate Co. (NYSE:ACRE) by 14.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,574 shares of the real estate investment trust’s stock after selling 5,881 shares during the period. Raymond James & Associates owned about 0.06% of Ares Commercial Real Estate worth $358,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ACRE. SG Americas Securities LLC grew its position in shares of Ares Commercial Real Estate by 21.9% during the fourth quarter. SG Americas Securities LLC now owns 29,395 shares of the real estate investment trust’s stock worth $305,000 after purchasing an additional 5,286 shares in the last quarter. Penserra Capital Management LLC grew its holdings in Ares Commercial Real Estate by 14.4% during the 3rd quarter. Penserra Capital Management LLC now owns 51,638 shares of the real estate investment trust’s stock valued at $491,000 after purchasing an additional 6,519 shares during the last quarter. Samalin Investment Counsel LLC raised its holdings in shares of Ares Commercial Real Estate by 12.6% in the third quarter. Samalin Investment Counsel LLC now owns 25,519 shares of the real estate investment trust’s stock worth $243,000 after buying an additional 2,859 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Ares Commercial Real Estate in the third quarter worth $250,000. Finally, Jaffetilchin Investment Partners LLC increased its stake in Ares Commercial Real Estate by 15.4% in the 3rd quarter. Jaffetilchin Investment Partners LLC now owns 16,903 shares of the real estate investment trust’s stock worth $161,000 after buying an additional 2,259 shares during the period. Institutional investors own 41.34% of the company’s stock.

Ares Commercial Real Estate Stock Up 1.2 %

ACRE stock opened at $6.85 on Monday. The stock has a market capitalization of $372.80 million, a P/E ratio of -9.51 and a beta of 1.41. The firm has a 50-day simple moving average of $7.33 and a 200-day simple moving average of $8.97. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 2.42. Ares Commercial Real Estate Co. has a 52 week low of $6.36 and a 52 week high of $11.24.

Ares Commercial Real Estate Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.60%. Ares Commercial Real Estate’s dividend payout ratio is currently -138.89%.

Insider Activity at Ares Commercial Real Estate

In related news, CEO Bryan Patrick Donohoe acquired 3,509 shares of the firm’s stock in a transaction dated Sunday, March 10th. The shares were purchased at an average cost of $14.32 per share, for a total transaction of $50,248.88. Following the acquisition, the chief executive officer now owns 41,259 shares in the company, valued at approximately $590,828.88. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ACRE shares. TheStreet downgraded shares of Ares Commercial Real Estate from a “c-” rating to a “d+” rating in a research report on Tuesday, March 5th. UBS Group lowered their price objective on shares of Ares Commercial Real Estate from $10.50 to $8.00 and set a “neutral” rating for the company in a research note on Wednesday, March 20th. Keefe, Bruyette & Woods lowered their price objective on shares of Ares Commercial Real Estate from $8.00 to $7.50 and set a “market perform” rating for the company in a research note on Wednesday, April 10th. JPMorgan Chase & Co. decreased their target price on shares of Ares Commercial Real Estate from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, April 10th. Finally, Bank of America restated an “underperform” rating and set a $7.00 target price (down from $11.00) on shares of Ares Commercial Real Estate in a research report on Monday, March 4th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $8.79.

Ares Commercial Real Estate 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.