Ares Commercial Real Estate Co. (NYSE:ACRE) Shares Bought by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. boosted its position in shares of Ares Commercial Real Estate Co. (NYSE:ACRE) by 33.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 136,850 shares of the real estate investment trust’s stock after acquiring an additional 34,491 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Ares Commercial Real Estate were worth $1,418,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in Ares Commercial Real Estate during the 1st quarter worth about $31,000. Samalin Investment Counsel LLC purchased a new position in shares of Ares Commercial Real Estate during the 1st quarter valued at about $50,000. Tower Research Capital LLC TRC raised its stake in shares of 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 valued at $83,000 after buying an additional 5,997 shares during the last quarter. Worth Asset Management LLC purchased a new position in shares of Ares Commercial Real Estate during the 1st quarter valued at about $97,000. Finally, Boothbay Fund Management LLC purchased a new position in shares of Ares Commercial Real Estate during the 1st quarter valued at about $100,000. Institutional investors and hedge funds own 41.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ACRE shares. JPMorgan Chase & Co. reduced their price objective on Ares Commercial Real Estate from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday. Bank of America reiterated an “underperform” rating and set a $7.00 price objective (down previously from $11.00) on shares of Ares Commercial Real Estate in a research note on Monday, March 4th. TheStreet lowered Ares Commercial Real Estate from a “c-” rating to a “d+” rating in a research note on Tuesday, March 5th. UBS Group cut their price target on 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. Finally, Keefe, Bruyette & Woods cut their price target on 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. One equities research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $8.79.

Insiders Place Their Bets

In other Ares Commercial Real Estate news, CEO Bryan Patrick Donohoe sold 18,868 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $10.32, for a total transaction of $194,717.76. Following the completion of the sale, the chief executive officer now directly owns 197,414 shares in the company, valued at approximately $2,037,312.48. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Ares Commercial Real Estate news, VP Anton Feingold sold 5,890 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $10.37, for a total transaction of $61,079.30. Following the completion of the sale, the vice president now directly owns 68,975 shares in the company, valued at approximately $715,270.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Bryan Patrick Donohoe sold 18,868 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $10.32, for a total value of $194,717.76. Following the transaction, the chief executive officer now owns 197,414 shares in the company, valued at $2,037,312.48. The disclosure for this sale can be found here. 1.95% of the stock is owned by company insiders.

Ares Commercial Real Estate Price Performance

Shares of Ares Commercial Real Estate stock opened at $7.02 on Friday. Ares Commercial Real Estate Co. has a twelve month low of $6.81 and a twelve month high of $11.24. The business has a 50-day moving average price of $7.73 and a 200 day moving average price of $9.15. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 2.42. The firm has a market cap of $381.76 million, a PE ratio of -9.74 and a beta of 1.41.

Ares Commercial Real Estate Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 16th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, March 27th. This represents a $1.00 annualized dividend and a yield of 14.26%. Ares Commercial Real Estate’s dividend payout ratio (DPR) 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.