Zurcher Kantonalbank Zurich Cantonalbank Reduces Position in Ares Commercial Real Estate Co. (NYSE:ACRE)

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in Ares Commercial Real Estate Co. (NYSE:ACRE) by 25.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,210 shares of the real estate investment trust’s stock after selling 4,786 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ares Commercial Real Estate were worth $147,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ACRE. SG Americas Securities LLC acquired a new stake in shares of Ares Commercial Real Estate during the 3rd quarter worth about $230,000. Raymond James & Associates lifted its stake in shares of Ares Commercial Real Estate by 9.7% during the 3rd quarter. Raymond James & Associates now owns 40,455 shares of the real estate investment trust’s stock worth $385,000 after purchasing an additional 3,580 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Ares Commercial Real Estate by 32.4% during the third quarter. Nisa Investment Advisors LLC now owns 51,936 shares of the real estate investment trust’s stock worth $494,000 after purchasing an additional 12,706 shares during the last quarter. MGO One Seven LLC purchased a new stake in shares of Ares Commercial Real Estate in the third quarter valued at $200,000. Finally, Jump Financial LLC grew its position in shares of Ares Commercial Real Estate by 36.4% in the third quarter. Jump Financial LLC now owns 64,846 shares of the real estate investment trust’s stock valued at $617,000 after purchasing an additional 17,291 shares during the period. Institutional investors and hedge funds own 41.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ACRE shares. JPMorgan Chase & Co. dropped their price objective 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, April 10th. TheStreet downgraded shares of Ares Commercial Real Estate from a “c-” rating to a “d+” rating in a research note on Tuesday, March 5th. Keefe, Bruyette & Woods lowered their price objective 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, April 10th. Bank of America reaffirmed an “underperform” rating and issued a $7.00 target price (down from $11.00) on shares of Ares Commercial Real Estate in a research report on Monday, March 4th. Finally, UBS Group lowered 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 report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.50.

Ares Commercial Real Estate Stock Performance

Shares of ACRE stock opened at $6.90 on Thursday. The company’s fifty day simple moving average is $7.20 and its 200-day simple moving average is $8.83. 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 Co. has a 52 week low of $6.36 and a 52 week high of $11.24. The company has a market cap of $375.25 million, a PE ratio of -9.58 and a beta of 1.42.

Ares Commercial Real Estate Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Thursday, March 28th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 14.50%. The ex-dividend date was Wednesday, March 27th. Ares Commercial Real Estate’s dividend payout ratio (DPR) is presently -138.89%.

Insiders Place Their Bets

In related news, CEO Bryan Patrick Donohoe bought 3,509 shares of the stock in a transaction dated Sunday, March 10th. The stock was acquired at an average price of $14.32 per share, for a total transaction of $50,248.88. Following the completion of the purchase, the chief executive officer now owns 41,259 shares in the company, valued at $590,828.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.80% of the stock is currently owned by 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.