Cerity Partners LLC Invests $210,000 in Ares Commercial Real Estate Co. (NYSE:ACRE)

Cerity Partners LLC acquired a new stake in Ares Commercial Real Estate Co. (NYSE:ACRE) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 20,224 shares of the real estate investment trust’s stock, valued at approximately $210,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Jaffetilchin Investment Partners LLC grew its position in shares of Ares Commercial Real Estate by 15.4% during the 3rd quarter. Jaffetilchin Investment Partners LLC now owns 16,903 shares of the real estate investment trust’s stock worth $161,000 after buying an additional 2,259 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Ares Commercial Real Estate by 47.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,996 shares of the real estate investment trust’s stock worth $181,000 after acquiring an additional 6,116 shares during the last quarter. MGO One Seven LLC acquired a new stake in Ares Commercial Real Estate in the third quarter worth $200,000. Clearstead Advisors LLC boosted its position in shares of Ares Commercial Real Estate by 9.7% during the third quarter. Clearstead Advisors LLC now owns 21,260 shares of the real estate investment trust’s stock worth $202,000 after purchasing an additional 1,876 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Ares Commercial Real Estate in the 3rd quarter valued at $230,000. Institutional investors and hedge funds own 41.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Keefe, Bruyette & Woods dropped their price objective on Ares Commercial Real Estate from $8.00 to $7.50 and set a “market perform” rating on the stock in a research note on Wednesday, April 10th. 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 report on Monday, March 4th. JPMorgan Chase & Co. lowered their target price 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. UBS Group dropped their target price on shares of Ares Commercial Real Estate from $10.50 to $8.00 and set a “neutral” rating on the stock in a report on Wednesday, March 20th. Finally, TheStreet downgraded shares of Ares Commercial Real Estate from a “c-” rating to a “d+” rating in a research report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $8.79.

Insider Transactions at Ares Commercial Real Estate

In related news, CEO Bryan Patrick Donohoe bought 3,509 shares of the company’s stock in a transaction that occurred on Sunday, March 10th. The shares were acquired at an average price of $14.32 per share, for a total transaction of $50,248.88. Following the completion of the acquisition, the chief executive officer now 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. Company insiders own 2.80% of the company’s stock.

Ares Commercial Real Estate Stock Performance

Shares of ACRE stock opened at $7.01 on Tuesday. Ares Commercial Real Estate Co. has a 12 month low of $6.36 and a 12 month high of $11.24. The company’s fifty day simple moving average is $7.30 and its 200-day simple moving average is $8.95. The firm has a market cap of $381.21 million, a PE ratio of -9.73 and a beta of 1.41. 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Thursday, March 28th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.00 annualized dividend and a yield of 14.28%. Ares Commercial Real Estate’s dividend payout ratio (DPR) is presently -138.89%.

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.