SG Americas Securities LLC Raises Stock Position in Ares Commercial Real Estate Co. (NYSE:ACRE)

SG Americas Securities LLC grew its holdings in Ares Commercial Real Estate Co. (NYSE:ACRE) by 21.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 29,395 shares of the real estate investment trust’s stock after purchasing an additional 5,286 shares during the quarter. SG Americas Securities LLC’s holdings in Ares Commercial Real Estate were worth $305,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Quarry LP purchased a new position in shares of Ares Commercial Real Estate in the 1st quarter valued at $31,000. Samalin Investment Counsel LLC purchased a new stake in Ares Commercial Real Estate during the 1st quarter worth $50,000. Tower Research Capital LLC TRC increased its stake in Ares Commercial Real Estate by 190.9% during the 1st quarter. Tower Research Capital LLC TRC now owns 9,138 shares of the real estate investment trust’s stock worth $83,000 after buying an additional 5,997 shares during the period. Worth Asset Management LLC purchased a new stake in Ares Commercial Real Estate during the 1st quarter worth $97,000. Finally, Boothbay Fund Management LLC purchased a new stake in Ares Commercial Real Estate during the 1st quarter worth $100,000. Hedge funds and other institutional investors own 41.34% of the company’s stock.

Ares Commercial Real Estate Price Performance

ACRE opened at $7.24 on Wednesday. Ares Commercial Real Estate Co. has a 1-year low of $7.07 and a 1-year high of $11.24. The company has a 50-day moving average of $7.88 and a 200-day moving average of $9.21. The company has a debt-to-equity ratio of 2.42, a quick ratio of 1.43 and a current ratio of 1.43. The company has a market capitalization of $394.02 million, a P/E ratio of -10.06 and a beta of 1.41.

Ares Commercial Real Estate Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 16th. Stockholders of record on Thursday, March 28th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 13.81%. The ex-dividend date of this dividend is Wednesday, March 27th. Ares Commercial Real Estate’s dividend payout ratio (DPR) is presently -138.89%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ACRE. TheStreet downgraded shares of Ares Commercial Real Estate from a “c-” rating to a “d+” rating in a research note on Tuesday, March 5th. JPMorgan Chase & Co. dropped their price target on shares of Ares Commercial Real Estate from $9.50 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, February 23rd. UBS Group dropped their price target 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. Keefe, Bruyette & Woods dropped their target price on shares of Ares Commercial Real Estate from $10.25 to $8.00 and set a “market perform” rating for the company in a research report on Monday, February 26th. Finally, Bank of America reissued an “underperform” rating and issued a $7.00 target price (down previously from $11.00) on shares of Ares Commercial Real Estate in a research report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $9.00.

Insider Activity

In other Ares Commercial Real Estate news, CEO Bryan Patrick Donohoe purchased 3,509 shares of the firm’s stock in a transaction dated Sunday, March 10th. The stock was acquired at an average cost of $14.32 per share, with a total value of $50,248.88. Following the acquisition, the chief executive officer now owns 41,259 shares of the company’s stock, valued at approximately $590,828.88. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Bryan Patrick Donohoe bought 3,509 shares of Ares Commercial Real Estate stock in a transaction on Sunday, March 10th. The stock was purchased at an average cost of $14.32 per share, with a total value of $50,248.88. Following the purchase, the chief executive officer now directly owns 41,259 shares of the company’s stock, valued at approximately $590,828.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Anton Feingold sold 5,890 shares of the business’s 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 transaction, the vice president now directly owns 68,975 shares of the company’s stock, valued at $715,270.75. The disclosure for this sale can be found here. Company insiders own 1.95% of the company’s stock.

About Ares Commercial Real Estate

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.