Lighthouse Investment Partners LLC acquired a new stake in Ares Commercial Real Estate Co. (NYSE:ACRE - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 76,569 shares of the real estate investment trust's stock, valued at approximately $451,000. Lighthouse Investment Partners LLC owned approximately 0.14% of Ares Commercial Real Estate as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in ACRE. Summit Securities Group LLC lifted its position in shares of Ares Commercial Real Estate by 139.7% in the fourth quarter. Summit Securities Group LLC now owns 6,700 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 3,905 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of Ares Commercial Real Estate in the fourth quarter valued at $69,000. New York State Common Retirement Fund lifted its position in shares of Ares Commercial Real Estate by 160.9% in the fourth quarter. New York State Common Retirement Fund now owns 11,838 shares of the real estate investment trust's stock valued at $70,000 after acquiring an additional 7,300 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Ares Commercial Real Estate by 472.0% in the fourth quarter. Farther Finance Advisors LLC now owns 14,301 shares of the real estate investment trust's stock valued at $84,000 after acquiring an additional 11,801 shares in the last quarter. Finally, Morey & Quinn Wealth Partners LLC purchased a new stake in shares of Ares Commercial Real Estate in the fourth quarter valued at $92,000. 41.34% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
ACRE has been the subject of several analyst reports. JMP Securities reiterated a "market perform" rating on shares of Ares Commercial Real Estate in a research note on Monday, April 21st. UBS Group dropped their target price on Ares Commercial Real Estate from $5.25 to $3.75 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Keefe, Bruyette & Woods dropped their target price on Ares Commercial Real Estate from $5.50 to $4.50 and set a "market perform" rating for the company in a research note on Monday, April 7th. Finally, JPMorgan Chase & Co. dropped 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. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $5.19.
Check Out Our Latest Stock Report on Ares Commercial Real Estate
Ares Commercial Real Estate Trading Down 0.5%
Ares Commercial Real Estate stock traded down $0.03 during trading on Tuesday, hitting $4.88. The company's stock had a trading volume of 58,705 shares, compared to its average volume of 567,183. The stock has a market capitalization of $268.15 million, a price-to-earnings ratio of -7.50 and a beta of 1.27. The stock's fifty day moving average is $4.30 and its 200 day moving average is $5.45. Ares Commercial Real Estate Co. has a 1-year low of $3.35 and a 1-year high of $7.99. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.87 and a current ratio of 0.87.
Ares Commercial Real Estate Dividend Announcement
The company 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 dividend of $0.15 per share. The ex-dividend date is Monday, June 30th. This represents a $0.60 annualized dividend and a yield of 12.31%. Ares Commercial Real Estate's dividend payout ratio is presently -240.00%.
Ares Commercial Real Estate Company Profile
(
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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