Short Interest in Ares Commercial Real Estate Co. (NYSE:ACRE) Drops By 9.2%

Ares Commercial Real Estate Co. (NYSE:ACRE) saw a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 1,480,000 shares, a decrease of 9.2% from the January 15th total of 1,630,000 shares. Based on an average daily trading volume, of 591,000 shares, the days-to-cover ratio is presently 2.5 days.

Analyst Ratings Changes

Several analysts have recently commented on ACRE shares. JMP Securities reiterated a “market perform” rating on shares of Ares Commercial Real Estate in a research report on Thursday, February 13th. Keefe, Bruyette & Woods cut their price target on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a “market perform” rating on the stock in a research note on Thursday, February 13th. StockNews.com raised shares of Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, JPMorgan Chase & Co. cut their price target on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, Ares Commercial Real Estate has a consensus rating of “Hold” and a consensus price target of $6.60.

Insiders Place Their Bets

In other Ares Commercial Real Estate news, VP Anton Feingold sold 7,615 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $5.68, for a total transaction of $43,253.20. Following the transaction, the vice president now directly owns 78,360 shares in the company, valued at approximately $445,084.80. This represents a 8.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ares Commercial Real Estate

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACRE. Summit Securities Group LLC increased its stake in 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 worth $39,000 after buying an additional 3,905 shares during the period. FMR LLC increased its stake in Ares Commercial Real Estate by 211.0% during the 3rd quarter. FMR LLC now owns 7,741 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 5,252 shares during the period. McIlrath & Eck LLC purchased a new stake in Ares Commercial Real Estate during the 4th quarter worth $54,000. Brown Brothers Harriman & Co. purchased a new stake in Ares Commercial Real Estate during the 4th quarter worth $69,000. Finally, New York State Common Retirement Fund increased its stake in Ares Commercial Real Estate by 160.9% during the 4th quarter. New York State Common Retirement Fund now owns 11,838 shares of the real estate investment trust’s stock worth $70,000 after buying an additional 7,300 shares during the period. Hedge funds and other institutional investors own 41.34% of the company’s stock.

Ares Commercial Real Estate Stock Performance

Shares of ACRE stock opened at $5.05 on Wednesday. The company’s fifty day simple moving average is $5.93 and its 200-day simple moving average is $6.59. Ares Commercial Real Estate has a 52 week low of $4.95 and a 52 week high of $8.39. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.38. The company has a market cap of $276.75 million, a PE ratio of -4.28 and a beta of 1.50.

Ares Commercial Real Estate Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 11.89%. The ex-dividend date of this dividend is Monday, March 31st. Ares Commercial Real Estate’s dividend payout ratio (DPR) is -92.31%.

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.