Mirae Asset Global Investments Co. Ltd. Sells 43,570 Shares of Ares Commercial Real Estate Co. (NYSE:ACRE)

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in Ares Commercial Real Estate Co. (NYSE:ACRE) by 5.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 708,870 shares of the real estate investment trust’s stock after selling 43,570 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 1.31% of Ares Commercial Real Estate worth $7,344,000 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 position in shares of Ares Commercial Real Estate by 33.7% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 136,850 shares of the real estate investment trust’s stock valued at $1,418,000 after purchasing an additional 34,491 shares in the last quarter. SG Americas Securities LLC increased its holdings in Ares Commercial Real Estate by 21.9% during the fourth quarter. SG Americas Securities LLC now owns 29,395 shares of the real estate investment trust’s stock worth $305,000 after buying an additional 5,286 shares during the last quarter. Deutsche Bank AG increased its holdings in Ares Commercial Real Estate by 13.1% during the third quarter. Deutsche Bank AG now owns 26,343 shares of the real estate investment trust’s stock worth $251,000 after buying an additional 3,059 shares during the last quarter. Graham Capital Management L.P. increased its holdings in Ares Commercial Real Estate by 65.2% during the third quarter. Graham Capital Management L.P. now owns 19,813 shares of the real estate investment trust’s stock worth $189,000 after buying an additional 7,822 shares during the last quarter. Finally, Tudor Investment Corp Et Al purchased a new stake in Ares Commercial Real Estate during the third quarter worth about $572,000. 41.34% of the stock is owned by institutional investors.

Insider Activity at Ares Commercial Real Estate

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ACRE shares. Keefe, Bruyette & Woods reduced their target price on shares of 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. UBS Group reduced their target price on shares of 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. JPMorgan Chase & Co. reduced their target price on shares of 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 issued a $7.00 target price (down previously from $11.00) on shares of Ares Commercial Real Estate in a research note on Monday, March 4th. Finally, TheStreet downgraded shares of Ares Commercial Real Estate from a “c-” rating to a “d+” rating in a research note on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $8.79.

Ares Commercial Real Estate Price Performance

Shares of NYSE:ACRE opened at $7.02 on Friday. The company has a 50 day moving average of $7.73 and a 200 day moving average of $9.15. The stock has a market cap of $382.03 million, a P/E ratio of -9.75 and a beta of 1.41. Ares Commercial Real Estate Co. has a 12 month low of $6.81 and a 12 month high of $11.24. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 2.42.

Ares Commercial Real Estate Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 16th. Investors of record on Thursday, March 28th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.00 annualized dividend and a yield of 14.25%. Ares Commercial Real Estate’s dividend payout ratio is currently -138.89%.

Ares Commercial Real Estate 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.