Raymond James Financial Inc. acquired a new stake in shares of Ares Commercial Real Estate Co. (NYSE:ACRE - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 73,017 shares of the real estate investment trust's stock, valued at approximately $430,000. Raymond James Financial Inc. owned approximately 0.13% of Ares Commercial Real Estate at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its position in shares of Ares Commercial Real Estate by 3.9% during the 4th quarter. Wells Fargo & Company MN now owns 50,424 shares of the real estate investment trust's stock valued at $297,000 after acquiring an additional 1,905 shares during the last quarter. Intech Investment Management LLC boosted its position in shares of Ares Commercial Real Estate by 21.5% during the 4th quarter. Intech Investment Management LLC now owns 16,635 shares of the real estate investment trust's stock valued at $98,000 after acquiring an additional 2,943 shares during the last quarter. CFO4Life Group LLC boosted its position in shares of Ares Commercial Real Estate by 21.4% during the 4th quarter. CFO4Life Group LLC now owns 17,000 shares of the real estate investment trust's stock valued at $100,000 after acquiring an additional 3,000 shares during the last quarter. Summit Securities Group LLC boosted its position in shares of Ares Commercial Real Estate by 139.7% during the 4th 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 during the last quarter. Finally, Bright Futures Wealth Management LLC. boosted its position in shares of Ares Commercial Real Estate by 4.7% during the 4th quarter. Bright Futures Wealth Management LLC. now owns 96,364 shares of the real estate investment trust's stock valued at $543,000 after acquiring an additional 4,369 shares during the last quarter. 41.34% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the company. Keefe, Bruyette & Woods lowered 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 report on Monday, April 7th. JMP Securities reiterated 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 for the company in a research report on Thursday, February 13th. Finally, UBS Group lowered 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 report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $5.19.
Read Our Latest Stock Report on Ares Commercial Real Estate
Ares Commercial Real Estate Trading Up 0.5%
ACRE traded up $0.03 during trading on Thursday, reaching $4.83. The company had a trading volume of 76,177 shares, compared to its average volume of 566,557. The stock has a market cap of $265.40 million, a P/E ratio of -7.42 and a beta of 1.27. The business has a 50 day simple moving average of $4.29 and a 200-day simple moving average of $5.49. 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.
Ares Commercial Real Estate Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given 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 12.44%. Ares Commercial Real Estate's dividend payout ratio is presently -240.00%.
Ares Commercial Real Estate 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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