BNP Paribas Financial Markets Has $41,000 Stake in Ares Commercial Real Estate Co. (NYSE:ACRE)

BNP Paribas Financial Markets trimmed its holdings in shares of Ares Commercial Real Estate Co. (NYSE:ACRE) by 40.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 7,009 shares of the real estate investment trust’s stock after selling 4,724 shares during the period. BNP Paribas Financial Markets’ holdings in Ares Commercial Real Estate were worth $41,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in shares of Ares Commercial Real Estate during the 4th quarter worth about $430,000. Jane Street Group LLC lifted its holdings in shares of Ares Commercial Real Estate by 267.2% during the 4th quarter. Jane Street Group LLC now owns 263,571 shares of the real estate investment trust’s stock worth $1,552,000 after acquiring an additional 191,799 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Ares Commercial Real Estate by 31.5% during the 4th quarter. JPMorgan Chase & Co. now owns 545,967 shares of the real estate investment trust’s stock worth $3,216,000 after acquiring an additional 130,635 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Ares Commercial Real Estate by 19.5% during the 4th quarter. Van ECK Associates Corp now owns 591,036 shares of the real estate investment trust’s stock worth $3,481,000 after acquiring an additional 96,551 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Ares Commercial Real Estate by 32.3% during the 4th quarter. Northern Trust Corp now owns 605,491 shares of the real estate investment trust’s stock worth $3,566,000 after acquiring an additional 147,990 shares during the period. 41.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ACRE shares. UBS Group raised their price objective on shares of Ares Commercial Real Estate from $3.75 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, May 21st. JMP Securities reaffirmed a “market perform” rating on shares of Ares Commercial Real Estate in a report on Monday, April 21st. JPMorgan Chase & Co. cut their price target 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. Finally, Keefe, Bruyette & Woods cut their price target 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 assigned a hold rating to the stock. According to MarketBeat.com, Ares Commercial Real Estate presently has an average rating of “Hold” and a consensus target price of $5.50.

Ares Commercial Real Estate Trading Up 2.7%

Shares of ACRE stock opened at $4.69 on Wednesday. Ares Commercial Real Estate Co. has a 12-month low of $3.35 and a 12-month high of $7.99. The company has a market capitalization of $257.70 million, a P/E ratio of -7.21 and a beta of 1.27. The firm has a 50-day moving average price of $4.25 and a 200 day moving average price of $5.29. 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 12.81%. The ex-dividend date of this dividend is Monday, June 30th. Ares Commercial Real Estate’s dividend payout ratio is presently -240.00%.

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.