Nisa Investment Advisors LLC Sells 32,123 Shares of Ares Commercial Real Estate Co. (NYSE:ACRE)

Nisa Investment Advisors LLC trimmed its stake in Ares Commercial Real Estate Co. (NYSE:ACRE) by 61.9% during the 4th quarter, Holdings Channel reports. The firm owned 19,813 shares of the real estate investment trust’s stock after selling 32,123 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Ares Commercial Real Estate were worth $205,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Samalin Investment Counsel LLC bought a new position in shares of Ares Commercial Real Estate in the first quarter worth approximately $50,000. Quarry LP purchased a new stake in Ares Commercial Real Estate in the first quarter worth approximately $31,000. Worth Asset Management LLC purchased a new stake in Ares Commercial Real Estate in the first quarter worth approximately $97,000. Tower Research Capital LLC TRC boosted its stake in Ares Commercial Real Estate by 190.9% in the first 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 in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in Ares Commercial Real Estate in the fourth quarter worth approximately $103,000. 41.34% of the stock is currently owned by institutional investors.

Ares Commercial Real Estate Stock Performance

NYSE:ACRE opened at $6.56 on Friday. The stock has a market cap of $357.01 million, a P/E ratio of -9.11 and a beta of 1.41. The firm’s fifty day simple moving average is $7.49 and its 200 day simple moving average is $9.05. Ares Commercial Real Estate Co. has a twelve month low of $6.36 and a twelve month high of $11.24. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 2.42.

Ares Commercial Real Estate Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Thursday, March 28th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 15.24%. The ex-dividend date was Wednesday, March 27th. Ares Commercial Real Estate’s dividend payout ratio (DPR) is currently -138.89%.

Analyst Ratings Changes

ACRE has been the subject of several research reports. Bank of America reaffirmed 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. UBS Group cut their target price 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. TheStreet lowered 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 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, April 10th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Ares Commercial Real Estate from $8.00 to $7.50 and set a “market perform” rating on the stock in a report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat, Ares Commercial Real Estate has a consensus rating of “Hold” and a consensus target price of $8.79.

Insider Activity at Ares Commercial Real Estate

In related news, CEO Bryan Patrick Donohoe sold 18,868 shares of Ares Commercial Real Estate stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $10.32, for a total value of $194,717.76. Following the sale, the chief executive officer now owns 197,414 shares in the company, valued at $2,037,312.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Ares Commercial Real Estate news, CEO Bryan Patrick Donohoe sold 18,868 shares of the firm’s stock in a transaction 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 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Anton Feingold sold 5,890 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $10.37, for a total value of $61,079.30. Following the transaction, the vice president now directly owns 68,975 shares of the company’s stock, valued at approximately $715,270.75. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by company insiders.

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.