Lighthouse Investment Partners LLC Buys Shares of 76,569 Ares Commercial Real Estate Co. (NYSE:ACRE)

Lighthouse Investment Partners LLC bought a new position in shares of Ares Commercial Real Estate Co. (NYSE:ACRE - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 76,569 shares of the real estate investment trust's stock, valued at approximately $451,000. Lighthouse Investment Partners LLC owned about 0.14% of Ares Commercial Real Estate at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ACRE. Summit Securities Group LLC grew its position in shares of Ares Commercial Real Estate by 139.7% during the fourth quarter. Summit Securities Group LLC now owns 6,700 shares of the real estate investment trust's stock worth $39,000 after acquiring an additional 3,905 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new position in shares of Ares Commercial Real Estate during the fourth quarter worth approximately $69,000. New York State Common Retirement Fund grew its position in shares of Ares Commercial Real Estate by 160.9% during the fourth quarter. New York State Common Retirement Fund now owns 11,838 shares of the real estate investment trust's stock worth $70,000 after acquiring an additional 7,300 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of Ares Commercial Real Estate by 472.0% during the fourth quarter. Farther Finance Advisors LLC now owns 14,301 shares of the real estate investment trust's stock worth $84,000 after acquiring an additional 11,801 shares during the last quarter. Finally, Morey & Quinn Wealth Partners LLC purchased a new position in shares of Ares Commercial Real Estate during the fourth quarter worth approximately $92,000. 41.34% of the stock is currently owned by hedge funds and other institutional investors.

Ares Commercial Real Estate Stock Performance

Shares of NYSE ACRE traded up $0.03 during mid-day trading on Friday, hitting $4.83. 403,194 shares of the company were exchanged, compared to its average volume of 569,545. 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 stock has a 50 day simple moving average of $4.29 and a 200-day simple moving average of $5.46. Ares Commercial Real Estate Co. has a 1-year low of $3.35 and a 1-year high of $7.99. The firm has a market cap of $265.67 million, a price-to-earnings ratio of -7.43 and a beta of 1.27.

Ares Commercial Real Estate Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 12.42%. The ex-dividend date of this dividend is Monday, June 30th. Ares Commercial Real Estate's dividend payout ratio (DPR) is currently -240.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. UBS Group lowered their target price on shares of Ares Commercial Real Estate from $5.25 to $3.75 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. JMP Securities reaffirmed a "market perform" rating on shares of Ares Commercial Real Estate in a report on Monday, April 21st. Keefe, Bruyette & Woods decreased 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 report on Monday, April 7th. Finally, JPMorgan Chase & Co. decreased their price target 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. 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 $5.19.

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.