Alliancebernstein L.P. Has $290,000 Stake in Ares Commercial Real Estate Co. (NYSE:ACRE)

Alliancebernstein L.P. lowered its holdings in shares of Ares Commercial Real Estate Co. (NYSE:ACRE) by 19.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,300 shares of the real estate investment trust’s stock after selling 11,630 shares during the quarter. Alliancebernstein L.P. owned 0.09% of Ares Commercial Real Estate worth $290,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Summit Securities Group LLC grew its holdings in shares of Ares Commercial Real Estate by 139.7% in the 4th quarter. Summit Securities Group LLC now owns 6,700 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 3,905 shares in the last quarter. FMR LLC boosted its holdings in shares of Ares Commercial Real Estate by 211.0% in the 3rd quarter. FMR LLC now owns 7,741 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 5,252 shares during the last quarter. Brown Brothers Harriman & Co. bought a new position in shares of Ares Commercial Real Estate in the fourth quarter valued at $69,000. New York State Common Retirement Fund raised its position in Ares Commercial Real Estate by 160.9% during the fourth quarter. New York State Common Retirement Fund now owns 11,838 shares of the real estate investment trust’s stock worth $70,000 after acquiring an additional 7,300 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Ares Commercial Real Estate by 472.0% in the fourth quarter. Farther Finance Advisors LLC now owns 14,301 shares of the real estate investment trust’s stock valued at $84,000 after acquiring an additional 11,801 shares during the last quarter. Institutional investors own 41.34% of the company’s stock.

Ares Commercial Real Estate Stock Performance

Shares of Ares Commercial Real Estate stock opened at $3.57 on Tuesday. The company has a market cap of $195.84 million, a P/E ratio of -5.49 and a beta of 1.22. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.17. The business has a 50-day moving average price of $4.50 and a two-hundred day moving average price of $5.75. Ares Commercial Real Estate Co. has a 1-year low of $3.35 and a 1-year high of $7.99.

Ares Commercial Real Estate Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 16.81%. The ex-dividend date was Monday, March 31st. Ares Commercial Real Estate’s payout ratio is -92.31%.

Insiders Place Their Bets

In other news, VP Anton Feingold sold 7,615 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $5.68, for a total value of $43,253.20. Following the completion of the sale, the vice president now directly owns 78,360 shares in the company, valued at $445,084.80. This trade represents a 8.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on ACRE. UBS Group decreased their price objective on shares of Ares Commercial Real Estate from $5.25 to $3.75 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. JMP Securities reissued a “market perform” rating on shares of Ares Commercial Real Estate in a report on Monday. JPMorgan Chase & Co. reduced their price objective on Ares Commercial Real Estate from $6.00 to $5.50 and set a “neutral” rating for the company in a report on Thursday, February 13th. Finally, Keefe, Bruyette & Woods lowered their target price on Ares Commercial Real Estate from $5.50 to $4.50 and set a “market perform” rating on the stock in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $5.19.

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.