Short Interest in Ares Commercial Real Estate Co. (NYSE:ACRE) Increases By 6.2%

Ares Commercial Real Estate Co. (NYSE:ACRE) was the recipient of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 1,880,000 shares, an increase of 6.2% from the March 31st total of 1,770,000 shares. Based on an average daily volume of 769,300 shares, the short-interest ratio is presently 2.4 days.

Insider Buying and Selling

In other news, CEO Bryan Patrick Donohoe purchased 3,509 shares of Ares Commercial Real Estate stock in a transaction dated Sunday, March 10th. The shares were purchased at an average price of $14.32 per share, with a total value of $50,248.88. Following the transaction, the chief executive officer now owns 41,259 shares in the company, valued at $590,828.88. The purchase was disclosed in a document filed with the SEC, which is available through this link. 2.80% of the stock is owned by company insiders.

Institutional Trading of Ares Commercial Real Estate

A number of hedge funds have recently added to or reduced their stakes in ACRE. MGO One Seven LLC lifted its stake in shares of Ares Commercial Real Estate by 2,609.3% in the 4th quarter. MGO One Seven LLC now owns 570,331 shares of the real estate investment trust’s stock worth $5,909,000 after acquiring an additional 549,280 shares during the period. Access Investment Management LLC acquired a new stake in Ares Commercial Real Estate in the fourth quarter valued at about $1,237,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Ares Commercial Real Estate by 11.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 790,404 shares of the real estate investment trust’s stock valued at $5,889,000 after purchasing an additional 81,534 shares during the period. Quest Partners LLC purchased a new stake in Ares Commercial Real Estate in the 4th quarter valued at approximately $676,000. Finally, Significant Wealth Partners LLC acquired a new position in Ares Commercial Real Estate during the 4th quarter worth approximately $439,000. 41.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Ares Commercial Real Estate Trading Up 2.1 %

NYSE:ACRE opened at $6.93 on Thursday. Ares Commercial Real Estate has a 52-week low of $6.36 and a 52-week high of $11.24. The stock’s 50 day moving average price is $7.28 and its 200 day moving average price is $8.93. The company has a debt-to-equity ratio of 2.42, a quick ratio of 1.43 and a current ratio of 1.43.

Ares Commercial Real Estate Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Thursday, March 28th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.43%. The ex-dividend date of this dividend was Wednesday, March 27th. Ares Commercial Real Estate’s dividend payout ratio is currently -138.89%.

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.