Jane Street Group LLC Buys 191,799 Shares of Ares Commercial Real Estate Co. (NYSE:ACRE)

Jane Street Group LLC boosted its stake in Ares Commercial Real Estate Co. (NYSE:ACRE - Free Report) by 267.2% in the fourth quarter, according to its most recent disclosure with the Securities and 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 added to or reduced their stakes in the stock. Northern Trust Corp increased its holdings in Ares Commercial Real Estate by 32.3% in the fourth quarter. Northern Trust Corp now owns 605,491 shares of the real estate investment trust's stock valued at $3,566,000 after purchasing an additional 147,990 shares during the last quarter. Van ECK Associates Corp increased its holdings 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 in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Ares Commercial Real Estate by 31.5% in the fourth 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 in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Ares Commercial Real Estate by 13.6% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 364,273 shares of the real estate investment trust's stock worth $2,146,000 after acquiring an additional 43,520 shares in the last quarter. Finally, ExodusPoint Capital Management LP bought a new stake in shares of Ares Commercial Real Estate in the fourth quarter worth about $891,000. Institutional investors own 41.34% of the company's stock.

Ares Commercial Real Estate Stock Down 1.0%

Shares of NYSE:ACRE traded down $0.05 during mid-day trading on Friday, reaching $4.53. 599,192 shares of the stock were exchanged, compared to its average volume of 567,545. 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 $248.90 million, a P/E ratio of -6.96 and a beta of 1.27. Ares Commercial Real Estate Co. has a one year low of $3.35 and a one year high of $7.99. The stock's 50 day simple moving average is $4.28 and its 200-day simple moving average is $5.41.

Ares Commercial Real Estate Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.60 dividend on an annualized basis and a yield of 13.26%. Ares Commercial Real Estate's dividend payout ratio is -240.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ACRE shares. JMP Securities restated a "market perform" rating on shares of Ares Commercial Real Estate in a report on Monday, April 21st. UBS Group increased their price target on Ares Commercial Real Estate from $3.75 to $5.00 and gave the stock a "neutral" rating in a report on Wednesday. JPMorgan Chase & Co. decreased 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 decreased their price objective on 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 research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $5.50.

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.