Jane Street Group LLC lifted its position in Ares Commercial Real Estate Co. (NYSE:ACRE - Free Report) by 267.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 263,571 shares of the real estate investment trust's stock after purchasing an additional 191,799 shares during the quarter. Jane Street Group LLC owned about 0.48% of Ares Commercial Real Estate worth $1,552,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of ACRE. JPMorgan Chase & Co. increased its holdings in Ares Commercial Real Estate by 187.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 415,332 shares of the real estate investment trust's stock worth $2,907,000 after buying an additional 270,791 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Ares Commercial Real Estate in the 4th quarter valued at $430,000. Van ECK Associates Corp increased its stake in shares of Ares Commercial Real Estate by 19.5% in the fourth 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. Virtu Financial LLC purchased a new position in shares of Ares Commercial Real Estate during the fourth quarter worth $117,000. Finally, ExodusPoint Capital Management LP acquired a new position in Ares Commercial Real Estate during the fourth quarter valued at $891,000. Institutional investors and hedge funds own 41.34% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have weighed in on the company. JMP Securities reaffirmed a "market perform" rating on shares of Ares Commercial Real Estate in a research report on Monday, April 21st. JPMorgan Chase & Co. lowered their target price on Ares Commercial Real Estate from $6.00 to $5.50 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Keefe, Bruyette & Woods reduced their price target on Ares Commercial Real Estate from $5.50 to $4.50 and set a "market perform" rating for the company in a research report on Monday, April 7th. Finally, UBS Group upped their price objective on Ares Commercial Real Estate from $3.75 to $5.00 and gave the stock a "neutral" rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $5.50.
View Our Latest Stock Analysis on ACRE
Ares Commercial Real Estate Price Performance
Shares of ACRE stock traded down $0.01 during mid-day trading on Thursday, hitting $4.57. 576,688 shares of the stock were exchanged, compared to its average volume of 568,004. Ares Commercial Real Estate Co. has a 52-week low of $3.35 and a 52-week high of $7.99. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.17. The company has a market cap of $251.37 million, a PE ratio of -7.03 and a beta of 1.27. The firm has a fifty day moving average of $4.29 and a 200 day moving average of $5.44.
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 dividend of $0.15 per share. The ex-dividend date is Monday, June 30th. This represents a $0.60 dividend on an annualized basis and a yield of 13.13%. Ares Commercial Real Estate's dividend payout ratio is currently -240.00%.
About Ares Commercial Real Estate
(
Free Report)
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.
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