Ares Commercial Real Estate Co. (NYSE:ACRE) Shares Sold by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. lowered its position in shares of Ares Commercial Real Estate Co. (NYSE:ACRE) by 54.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,109 shares of the real estate investment trust’s stock after selling 20,776 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Ares Commercial Real Estate were worth $114,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC purchased a new position in shares of Ares Commercial Real Estate in the 4th quarter valued at $29,000. EntryPoint Capital LLC purchased a new position in shares of Ares Commercial Real Estate in the 1st quarter valued at $84,000. Virtu Financial LLC purchased a new position in shares of Ares Commercial Real Estate in the 1st quarter valued at $108,000. Curated Wealth Partners LLC raised its stake in shares of Ares Commercial Real Estate by 200.0% in the 2nd quarter. Curated Wealth Partners LLC now owns 20,000 shares of the real estate investment trust’s stock valued at $133,000 after acquiring an additional 40,000 shares during the period. Finally, Strategic Wealth Partners Ltd. purchased a new position in shares of Ares Commercial Real Estate in the 1st quarter valued at $134,000. Institutional investors and hedge funds own 41.34% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. BTIG Research reaffirmed a “neutral” rating on shares of Ares Commercial Real Estate in a research note on Friday, July 19th. Keefe, Bruyette & Woods dropped their price target on shares of Ares Commercial Real Estate from $7.50 to $7.00 and set a “market perform” rating on the stock in a research note on Friday, May 10th. Finally, StockNews.com downgraded shares of Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $7.80.

Ares Commercial Real Estate Price Performance

Shares of ACRE stock opened at $7.02 on Monday. The firm has a market cap of $382.64 million, a P/E ratio of -8.46 and a beta of 1.46. The company has a debt-to-equity ratio of 2.29, a current ratio of 0.95 and a quick ratio of 0.95. Ares Commercial Real Estate Co. has a 1-year low of $6.36 and a 1-year high of $11.24. The firm has a fifty day moving average of $7.12 and a two-hundred day moving average of $7.20.

Ares Commercial Real Estate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 14.25%. The ex-dividend date is Monday, September 30th. Ares Commercial Real Estate’s dividend payout ratio is currently -120.48%.

About Ares Commercial Real Estate

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.