Parallel Advisors LLC grew its stake in shares of Ares Commercial Real Estate Co. (NYSE:ACRE – Get Rating) by 1,181.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 3,473 shares of the real estate investment trust’s stock after purchasing an additional 3,202 shares during the period. Parallel Advisors LLC’s holdings in Ares Commercial Real Estate were worth $36,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. Great West Life Assurance Co. Can acquired a new position in Ares Commercial Real Estate during the third quarter worth $266,000. Nisa Investment Advisors LLC raised its stake in shares of Ares Commercial Real Estate by 14.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 41,300 shares of the real estate investment trust’s stock worth $433,000 after buying an additional 5,111 shares during the last quarter. King Wealth boosted its position in shares of Ares Commercial Real Estate by 3.2% in the 3rd quarter. King Wealth now owns 160,958 shares of the real estate investment trust’s stock worth $1,682,000 after buying an additional 5,000 shares in the last quarter. Claybrook Capital LLC grew its stake in Ares Commercial Real Estate by 7.5% in the 4th quarter. Claybrook Capital LLC now owns 68,748 shares of the real estate investment trust’s stock valued at $707,000 after acquiring an additional 4,823 shares during the last quarter. Finally, Relative Value Partners Group LLC grew its stake in Ares Commercial Real Estate by 16.2% in the 3rd quarter. Relative Value Partners Group LLC now owns 311,183 shares of the real estate investment trust’s stock valued at $3,252,000 after acquiring an additional 43,282 shares during the last quarter. Hedge funds and other institutional investors own 46.63% of the company’s stock.
Analyst Upgrades and Downgrades
ACRE has been the topic of several recent research reports. BTIG Research downgraded shares of Ares Commercial Real Estate from a “buy” rating to a “neutral” rating in a report on Tuesday, April 25th. Keefe, Bruyette & Woods reduced their target price on Ares Commercial Real Estate from $12.50 to $10.00 and set a “market perform” rating on the stock in a research note on Thursday, April 13th. Raymond James cut their price target on Ares Commercial Real Estate from $13.50 to $10.50 in a report on Wednesday. JMP Securities decreased their price objective on Ares Commercial Real Estate from $13.50 to $11.00 in a research note on Wednesday. Finally, StockNews.com started coverage on shares of Ares Commercial Real Estate in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ares Commercial Real Estate currently has an average rating of “Hold” and a consensus price target of $11.57.
Ares Commercial Real Estate Price Performance
ACRE stock opened at $8.05 on Friday. The stock has a market capitalization of $440.09 million, a price-to-earnings ratio of 57.50 and a beta of 1.38. The company has a quick ratio of 1.35, a current ratio of 1.73 and a debt-to-equity ratio of 2.20. Ares Commercial Real Estate Co. has a 52-week low of $7.52 and a 52-week high of $15.69. The stock’s fifty day simple moving average is $9.24 and its 200-day simple moving average is $10.80.
Ares Commercial Real Estate Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 18th. Shareholders of record on Friday, June 30th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 17.39%. The ex-dividend date of this dividend is Thursday, June 29th. Ares Commercial Real Estate’s payout ratio is 942.86%.
Ares Commercial Real Estate Profile
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Ares Commercial Real Estate Corp. engages in originating and investing in commercial real estate loans and related investments. The company was founded in September 2011 and is headquartered in New York, NY.
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