Janney Montgomery Scott LLC Sells 2,730 Shares of Ares Commercial Real Estate Co. (NYSE:ACRE)

Janney Montgomery Scott LLC trimmed its holdings in Ares Commercial Real Estate Co. (NYSE:ACRE) by 9.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,070 shares of the real estate investment trust’s stock after selling 2,730 shares during the period. Janney Montgomery Scott LLC’s holdings in Ares Commercial Real Estate were worth $254,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Ares Commercial Real Estate by 10.1% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 105,359 shares of the real estate investment trust’s stock valued at $1,069,000 after buying an additional 9,642 shares in the last quarter. Relative Value Partners Group LLC lifted its stake in shares of Ares Commercial Real Estate by 4.0% in the first quarter. Relative Value Partners Group LLC now owns 370,597 shares of the real estate investment trust’s stock valued at $3,369,000 after buying an additional 14,184 shares in the last quarter. Arete Wealth Advisors LLC bought a new position in shares of Ares Commercial Real Estate in the first quarter valued at $5,073,000. CFO4Life Group LLC bought a new position in shares of Ares Commercial Real Estate in the first quarter valued at $91,000. Finally, Claybrook Capital LLC lifted its stake in shares of Ares Commercial Real Estate by 33.6% in the second quarter. Claybrook Capital LLC now owns 129,913 shares of the real estate investment trust’s stock valued at $1,319,000 after buying an additional 32,660 shares in the last quarter. 38.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ACRE shares. Raymond James lowered shares of Ares Commercial Real Estate from an “outperform” rating to a “market perform” rating in a research report on Friday, August 18th. They noted that the move was a valuation call. JPMorgan Chase & Co. raised their price target on shares of Ares Commercial Real Estate from $8.00 to $10.00 in a research report on Monday, July 24th. StockNews.com started coverage on shares of Ares Commercial Real Estate in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Wells Fargo & Company started coverage on shares of Ares Commercial Real Estate in a research report on Wednesday, September 13th. They set an “equal weight” rating and a $10.00 price target on the stock. Finally, JMP Securities raised their price target on shares of Ares Commercial Real Estate from $11.00 to $11.50 and gave the company an “outperform” rating in a research report on Thursday, August 3rd. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.40.

Ares Commercial Real Estate Price Performance

ACRE opened at $9.97 on Friday. The company has a market capitalization of $539.78 million, a price-to-earnings ratio of -99.69 and a beta of 1.45. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 2.27. The firm has a 50-day moving average price of $9.71 and a 200-day moving average price of $9.70. Ares Commercial Real Estate Co. has a twelve month low of $7.52 and a twelve month high of $12.75.

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.