Ares Commercial Real Estate Co. (NYSE:ACRE) Short Interest Up 6.2% in April

Ares Commercial Real Estate Co. (NYSE:ACRE) saw a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 1,880,000 shares, a growth of 6.2% from the March 31st total of 1,770,000 shares. Based on an average trading volume of 769,300 shares, the short-interest ratio is presently 2.4 days.

Insider Buying and Selling

In other news, CEO Bryan Patrick Donohoe acquired 3,509 shares of Ares Commercial Real Estate stock in a transaction on Sunday, March 10th. The stock was acquired at an average cost of $14.32 per share, with a total value of $50,248.88. Following the transaction, the chief executive officer now owns 41,259 shares of the company’s stock, valued at approximately $590,828.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ares Commercial Real Estate

A number of large investors have recently added to or reduced their stakes in ACRE. GAMMA Investing LLC bought a new stake in Ares Commercial Real Estate in the 4th quarter worth $29,000. Triumph Capital Management boosted its stake in shares of Ares Commercial Real Estate by 15.0% during the 1st quarter. Triumph Capital Management now owns 20,178 shares of the real estate investment trust’s stock valued at $146,000 after purchasing an additional 2,626 shares in the last quarter. Jaffetilchin Investment Partners LLC boosted its stake in shares of Ares Commercial Real Estate by 15.4% during the 3rd quarter. Jaffetilchin Investment Partners LLC now owns 16,903 shares of the real estate investment trust’s stock valued at $161,000 after purchasing an additional 2,259 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Ares Commercial Real Estate by 47.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,996 shares of the real estate investment trust’s stock valued at $181,000 after purchasing an additional 6,116 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of Ares Commercial Real Estate by 18.1% during the 4th quarter. New York State Common Retirement Fund now owns 19,161 shares of the real estate investment trust’s stock valued at $199,000 after purchasing an additional 2,933 shares in the last quarter. Institutional investors own 41.34% of the company’s stock.

Ares Commercial Real Estate Price Performance

ACRE stock opened at $6.95 on Thursday. The company has a debt-to-equity ratio of 2.42, a quick ratio of 1.43 and a current ratio of 1.43. Ares Commercial Real Estate has a 52 week low of $6.36 and a 52 week high of $11.24. The firm’s fifty day moving average is $7.25 and its 200 day moving average is $8.92. The firm has a market cap of $378.22 million, a P/E ratio of -9.62 and a beta of 1.42.

Ares Commercial Real Estate Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Thursday, March 28th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 14.39%. The ex-dividend date was Wednesday, March 27th. Ares Commercial Real Estate’s dividend payout ratio (DPR) is presently -138.89%.

Wall Street Analysts Forecast Growth

ACRE has been the topic of a number of recent research reports. Keefe, Bruyette & Woods dropped their price target on shares of Ares Commercial Real Estate from $8.00 to $7.50 and set a “market perform” rating on the stock in a research note on Wednesday, April 10th. TheStreet cut shares of Ares Commercial Real Estate from a “c-” rating to a “d+” rating in a research note on Tuesday, March 5th. UBS Group dropped their price target on shares of Ares Commercial Real Estate from $10.50 to $8.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 20th. JPMorgan Chase & Co. dropped their price target on shares of Ares Commercial Real Estate from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 10th. Finally, Bank of America restated an “underperform” rating and set a $7.00 price target (down from $11.00) on shares of Ares Commercial Real Estate in a research note on Monday, March 4th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $8.79.

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.