Quest Partners LLC Buys 13,295 Shares of Ares Commercial Real Estate Co. (NYSE:ACRE)

Quest Partners LLC lifted its position in Ares Commercial Real Estate Co. (NYSE:ACRE) by 1,329,500.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,296 shares of the real estate investment trust’s stock after purchasing an additional 13,295 shares during the quarter. Quest Partners LLC’s holdings in Ares Commercial Real Estate were worth $88,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Ares Commercial Real Estate by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 2,783,379 shares of the real estate investment trust’s stock valued at $20,736,000 after buying an additional 34,611 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Ares Commercial Real Estate by 11.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 790,404 shares of the real estate investment trust’s stock valued at $5,889,000 after acquiring an additional 81,534 shares during the last quarter. MGO One Seven LLC grew its holdings in shares of Ares Commercial Real Estate by 2,609.3% in the fourth quarter. MGO One Seven LLC now owns 570,331 shares of the real estate investment trust’s stock valued at $5,909,000 after purchasing an additional 549,280 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Ares Commercial Real Estate by 26.9% in the second quarter. Van ECK Associates Corp now owns 524,694 shares of the real estate investment trust’s stock valued at $3,489,000 after purchasing an additional 111,194 shares in the last quarter. Finally, Relative Value Partners Group LLC increased its position in Ares Commercial Real Estate by 1.6% in the fourth quarter. Relative Value Partners Group LLC now owns 416,194 shares of the real estate investment trust’s stock worth $4,312,000 after purchasing an additional 6,588 shares during the last quarter. 41.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on ACRE. BTIG Research reiterated a “neutral” rating on shares of Ares Commercial Real Estate in a research report on Friday, July 19th. StockNews.com lowered Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $7.25.

Ares Commercial Real Estate Stock Performance

Shares of ACRE opened at $7.60 on Wednesday. The company’s fifty day simple moving average is $7.19 and its 200-day simple moving average is $7.10. The company has a market cap of $414.25 million, a P/E ratio of -9.16 and a beta of 1.45. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.32. Ares Commercial Real Estate Co. has a twelve month low of $6.36 and a twelve month high of $11.24.

Ares Commercial Real Estate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 13.16%. The ex-dividend date of this dividend is Monday, September 30th. Ares Commercial Real Estate’s dividend payout ratio (DPR) is currently -120.48%.

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.