JPMorgan Chase & Co. Purchases 130,635 Shares of Ares Commercial Real Estate Co. (NYSE:ACRE)

JPMorgan Chase & Co. lifted its position in Ares Commercial Real Estate Co. (NYSE:ACRE - Free Report) by 31.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 545,967 shares of the real estate investment trust's stock after buying an additional 130,635 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.00% of Ares Commercial Real Estate worth $3,216,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Van ECK Associates Corp grew its holdings in shares of Ares Commercial Real Estate by 19.5% during 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 purchasing an additional 96,551 shares in the last quarter. Raymond James Financial Inc. bought a new position in Ares Commercial Real Estate during the 4th quarter worth approximately $430,000. Commonwealth Equity Services LLC increased its stake in shares of Ares Commercial Real Estate by 421.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 73,551 shares of the real estate investment trust's stock worth $433,000 after buying an additional 59,445 shares during the period. Barclays PLC boosted its position in Ares Commercial Real Estate by 279.8% during the 3rd quarter. Barclays PLC now owns 69,821 shares of the real estate investment trust's stock valued at $489,000 after buying an additional 51,435 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Ares Commercial Real Estate by 37.4% in the 4th quarter. Victory Capital Management Inc. now owns 121,000 shares of the real estate investment trust's stock worth $713,000 after acquiring an additional 32,907 shares during the last quarter. 41.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ares Commercial Real Estate

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

Ares Commercial Real Estate Price Performance

Ares Commercial Real Estate stock remained flat at $3.82 during trading hours on Friday. 391,159 shares of the company's stock traded hands, compared to its average volume of 563,317. The stock has a 50-day simple moving average of $4.41 and a 200-day simple moving average of $5.69. Ares Commercial Real Estate Co. has a twelve month low of $3.35 and a twelve month high of $7.99. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market cap of $209.55 million, a PE ratio of -5.88 and a beta of 1.22.

Ares Commercial Real Estate Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.15 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.60 annualized dividend and a yield of 15.71%. Ares Commercial Real Estate's dividend payout ratio (DPR) is presently -92.31%.

Analysts Set New Price Targets

Several brokerages have commented on ACRE. Keefe, Bruyette & Woods decreased their price objective 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. JPMorgan Chase & Co. lowered their target price on Ares Commercial Real Estate from $6.00 to $5.50 and set a "neutral" rating for the company in a research note on Thursday, February 13th. UBS Group decreased their price objective on Ares Commercial Real Estate from $5.25 to $3.75 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Finally, JMP Securities reiterated a "market perform" rating on shares of Ares Commercial Real Estate in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price 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.