Raymond James Financial Inc. Purchases Shares of 73,017 Ares Commercial Real Estate Co. (NYSE:ACRE)

Raymond James Financial Inc. purchased a new stake in shares of Ares Commercial Real Estate Co. (NYSE:ACRE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 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 quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. 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 worth $489,000 after acquiring an additional 51,435 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Ares Commercial Real Estate by 187.3% during the third quarter. JPMorgan Chase & Co. now owns 415,332 shares of the real estate investment trust's stock worth $2,907,000 after purchasing an additional 270,791 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Ares Commercial Real Estate by 19.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 37,339 shares of the real estate investment trust's stock worth $229,000 after purchasing an additional 6,072 shares during the period. Inspire Investing LLC grew its position in Ares Commercial Real Estate by 17.8% during the fourth quarter. Inspire Investing LLC now owns 68,543 shares of the real estate investment trust's stock valued at $404,000 after purchasing an additional 10,362 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in Ares Commercial Real Estate by 19.5% in the 4th quarter. Van ECK Associates Corp now owns 591,036 shares of the real estate investment trust's stock valued at $3,481,000 after buying an additional 96,551 shares during the period. Hedge funds and other institutional investors own 41.34% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ACRE shares. JMP Securities restated a "market perform" rating on shares of Ares Commercial Real Estate in a report on Monday, April 21st. Keefe, Bruyette & Woods lowered their target price on Ares Commercial Real Estate from $5.50 to $4.50 and set a "market perform" rating on the stock in a research note on Monday, April 7th. JPMorgan Chase & Co. cut their price target 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. Finally, UBS Group lowered their price target 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. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $5.19.

Ares Commercial Real Estate Price Performance

Shares of NYSE:ACRE remained flat at $4.94 on Tuesday. The company's stock had a trading volume of 575,680 shares, compared to its average volume of 567,585. The stock has a market cap of $271.72 million, a PE ratio of -7.60 and a beta of 1.27. The company has a fifty day moving average of $4.29 and a 200-day moving average of $5.50. Ares Commercial Real Estate Co. has a 12 month low of $3.35 and a 12 month 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 announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.15 per share. 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 12.15%. Ares Commercial Real Estate's payout ratio is currently -240.00%.

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.