Rockefeller Capital Management L.P. Purchases 188,551 Shares of Ares Commercial Real Estate Co. (NYSE:ACRE)

Rockefeller Capital Management L.P. raised its position in shares of Ares Commercial Real Estate Co. (NYSE:ACRE – Get Rating) by 79.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 424,451 shares of the real estate investment trust’s stock after acquiring an additional 188,551 shares during the quarter. Rockefeller Capital Management L.P. owned about 0.78% of Ares Commercial Real Estate worth $4,435,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in Ares Commercial Real Estate by 52.1% during the second quarter. JPMorgan Chase & Co. now owns 1,952,740 shares of the real estate investment trust’s stock valued at $23,881,000 after acquiring an additional 668,656 shares during the last quarter. Delphi Financial Group Inc. boosted its position in shares of Ares Commercial Real Estate by 2.2% during the 2nd quarter. Delphi Financial Group Inc. now owns 1,598,922 shares of the real estate investment trust’s stock worth $19,555,000 after purchasing an additional 34,371 shares in the last quarter. State Street Corp boosted its position in shares of Ares Commercial Real Estate by 4.1% during the 2nd quarter. State Street Corp now owns 1,167,240 shares of the real estate investment trust’s stock worth $14,677,000 after purchasing an additional 46,082 shares in the last quarter. Millennium Management LLC bought a new position in shares of Ares Commercial Real Estate during the 2nd quarter worth about $8,022,000. Finally, Northern Trust Corp boosted its position in shares of Ares Commercial Real Estate by 1.0% during the 2nd quarter. Northern Trust Corp now owns 435,928 shares of the real estate investment trust’s stock worth $5,331,000 after purchasing an additional 4,122 shares in the last quarter. Institutional investors own 46.63% of the company’s stock.

Ares Commercial Real Estate Trading Up 2.3 %

ACRE opened at $11.72 on Monday. The company has a debt-to-equity ratio of 2.37, a current ratio of 0.74 and a quick ratio of 0.74. Ares Commercial Real Estate Co. has a fifty-two week low of $9.90 and a fifty-two week high of $16.48. The firm has a market capitalization of $638.07 million, a PE ratio of 12.88 and a beta of 1.33. The company’s 50-day moving average is $11.42 and its 200 day moving average is $12.10.

Ares Commercial Real Estate Increases Dividend

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

Insider Buying and Selling at Ares Commercial Real Estate

In other Ares Commercial Real Estate news, CEO Bryan Patrick Donohoe sold 15,072 shares of the stock in a transaction dated Tuesday, January 10th. The shares were sold at an average price of $10.91, for a total value of $164,435.52. Following the completion of the sale, the chief executive officer now owns 157,282 shares in the company, valued at approximately $1,715,946.62. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Ares Commercial Real Estate news, CEO Bryan Patrick Donohoe sold 15,072 shares of the stock in a transaction dated Tuesday, January 10th. The shares were sold at an average price of $10.91, for a total value of $164,435.52. Following the completion of the sale, the chief executive officer now owns 157,282 shares in the company, valued at approximately $1,715,946.62. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Anton Feingold sold 3,166 shares of the stock in a transaction dated Tuesday, January 10th. The shares were sold at an average price of $10.87, for a total transaction of $34,414.42. Following the completion of the sale, the vice president now owns 53,865 shares of the company’s stock, valued at approximately $585,512.55. The disclosure for this sale can be found here. Company insiders own 1.95% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ACRE. StockNews.com began coverage on shares of Ares Commercial Real Estate in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Raymond James cut their price objective on shares of Ares Commercial Real Estate from $15.00 to $13.50 and set an “outperform” rating on the stock in a research report on Tuesday, October 18th. Credit Suisse Group cut their price objective on shares of Ares Commercial Real Estate to $13.50 in a research report on Thursday, October 13th. Bank of America restated a “buy” rating and issued a $13.00 target price on shares of Ares Commercial Real Estate in a report on Monday, October 31st. Finally, JPMorgan Chase & Co. lowered their target price on shares of 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. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Ares Commercial Real Estate has a consensus rating of “Moderate Buy” and an average target price of $13.25.

About Ares Commercial Real Estate

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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.