Ares Commercial Real Estate Corporation (NYSE:ACRE) Short Interest Down 14.2% in January

Ares Commercial Real Estate Corporation (NYSE:ACRE) was the recipient of a significant decrease in short interest in January. As of January 30th, there was short interest totaling 1,683,271 shares, a decrease of 14.2% from the January 15th total of 1,962,040 shares. Currently, 3.1% of the shares of the stock are short sold. Based on an average trading volume of 512,720 shares, the days-to-cover ratio is presently 3.3 days. Based on an average trading volume of 512,720 shares, the days-to-cover ratio is presently 3.3 days. Currently, 3.1% of the shares of the stock are short sold.

Insider Buying and Selling at Ares Commercial Real Estate

In other Ares Commercial Real Estate news, CFO Jeffrey Michael Gonzales sold 6,218 shares of the company’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $4.93, for a total transaction of $30,654.74. Following the transaction, the chief financial officer directly owned 88,533 shares in the company, valued at approximately $436,467.69. This represents a 6.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Anton Feingold sold 7,606 shares of the stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $4.93, for a total transaction of $37,497.58. Following the completion of the transaction, the vice president directly owned 92,754 shares of the company’s stock, valued at approximately $457,277.22. This trade represents a 7.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 35,585 shares of company stock valued at $175,434. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ares Commercial Real Estate

Several large investors have recently added to or reduced their stakes in ACRE. LPL Financial LLC increased its stake in shares of Ares Commercial Real Estate by 8.9% during the 4th quarter. LPL Financial LLC now owns 27,950 shares of the real estate investment trust’s stock valued at $134,000 after acquiring an additional 2,284 shares during the last quarter. Private Advisor Group LLC grew its holdings in Ares Commercial Real Estate by 9.0% in the third quarter. Private Advisor Group LLC now owns 41,019 shares of the real estate investment trust’s stock valued at $185,000 after purchasing an additional 3,371 shares during the period. CWM LLC increased its position in Ares Commercial Real Estate by 94.3% during the second quarter. CWM LLC now owns 6,997 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 3,396 shares during the last quarter. HRT Financial LP raised its stake in Ares Commercial Real Estate by 36.0% during the fourth quarter. HRT Financial LP now owns 16,790 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 4,445 shares during the period. Finally, Evoke Wealth LLC raised its stake in Ares Commercial Real Estate by 2.2% during the fourth quarter. Evoke Wealth LLC now owns 232,262 shares of the real estate investment trust’s stock worth $1,145,000 after purchasing an additional 4,936 shares during the period. 41.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on ACRE. Wells Fargo & Company lifted their price objective on Ares Commercial Real Estate from $4.00 to $5.00 and gave the stock an “underweight” rating in a report on Thursday, February 12th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Ares Commercial Real Estate in a research report on Monday, December 29th. Zacks Research downgraded shares of Ares Commercial Real Estate from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. UBS Group upped their price target on shares of Ares Commercial Real Estate from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Friday, November 14th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Ares Commercial Real Estate from $5.50 to $6.00 and gave the company an “outperform” rating in a research report on Wednesday, February 11th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $5.33.

Ares Commercial Real Estate Price Performance

Shares of NYSE ACRE opened at $5.15 on Thursday. The company has a 50-day simple moving average of $5.09 and a 200-day simple moving average of $4.85. The company has a market cap of $285.10 million, a PE ratio of -257.45, a price-to-earnings-growth ratio of 0.27 and a beta of 1.26. Ares Commercial Real Estate has a 12 month low of $3.35 and a 12 month high of $5.89.

Ares Commercial Real Estate Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 11.7%. The ex-dividend date of this dividend is Tuesday, March 31st. Ares Commercial Real Estate’s dividend payout ratio is currently -3,000.00%.

Ares Commercial Real Estate Company Profile

Ares Commercial Real Estate Corporation (NYSE: ACRE) is a publicly traded real estate investment trust (REIT) primarily focused on commercial real estate debt investments. Externally managed by an affiliate of Ares Management Corporation, ACRE seeks to generate attractive risk-adjusted returns through its diversified portfolio of CRE financing strategies. The company specializes in originating, acquiring, financing and managing first mortgages, mezzanine loans, preferred equity and other structured finance products.

Since its inception, Ares Commercial Real Estate has targeted a broad range of property types, including multifamily, office, industrial, retail and hospitality assets.