Ares Commercial Real Estate Co. (NYSE:ACRE) Shares Acquired by Northern Trust Corp

Northern Trust Corp lifted its position in shares of Ares Commercial Real Estate Co. (NYSE:ACRE) by 32.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 605,491 shares of the real estate investment trust’s stock after buying an additional 147,990 shares during the period. Northern Trust Corp owned approximately 1.11% of Ares Commercial Real Estate worth $3,566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in ACRE. ExodusPoint Capital Management LP acquired a new stake in shares of Ares Commercial Real Estate during the 4th quarter worth approximately $891,000. JPMorgan Chase & Co. increased its holdings in Ares Commercial Real Estate by 31.5% in the 4th quarter. JPMorgan Chase & Co. now owns 545,967 shares of the real estate investment trust’s stock valued at $3,216,000 after purchasing an additional 130,635 shares during the last quarter. Van ECK Associates Corp increased its holdings in Ares Commercial Real Estate by 19.5% in the 4th quarter. Van ECK Associates Corp now owns 591,036 shares of the real estate investment trust’s stock valued at $3,481,000 after purchasing an additional 96,551 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Ares Commercial Real Estate in the 4th quarter valued at approximately $430,000. Finally, Alpine Global Management LLC acquired a new stake in Ares Commercial Real Estate in the 4th quarter valued at approximately $368,000. Institutional investors and hedge funds own 41.34% of the company’s stock.

Ares Commercial Real Estate Stock Performance

Shares of ACRE stock opened at $4.57 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.17. Ares Commercial Real Estate Co. has a 52 week low of $3.35 and a 52 week high of $7.99. The stock has a market capitalization of $251.37 million, a PE ratio of -7.03 and a beta of 1.27. The firm has a 50 day moving average of $4.29 and a two-hundred day moving average of $5.43.

Ares Commercial Real Estate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.15 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.60 annualized dividend and a yield of 13.13%. Ares Commercial Real Estate’s dividend payout ratio is presently -240.00%.

Analyst Ratings Changes

ACRE has been the subject of several research reports. JPMorgan Chase & Co. dropped their target price on shares of 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. UBS Group lifted their target price on shares of Ares Commercial Real Estate from $3.75 to $5.00 and gave the company a “neutral” rating in a report on Wednesday. JMP Securities reiterated a “market perform” rating on shares of Ares Commercial Real Estate in a report on Monday, April 21st. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Ares Commercial Real Estate from $5.50 to $4.50 and set a “market perform” rating for the company in a report on Monday, April 7th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $5.50.

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.