18,314 Shares in Ares Commercial Real Estate Co. (NYSE:ACRE) Purchased by AQR Capital Management LLC

AQR Capital Management LLC purchased a new position in Ares Commercial Real Estate Co. (NYSE:ACRE) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 18,314 shares of the real estate investment trust’s stock, valued at approximately $122,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC purchased a new position in shares of Ares Commercial Real Estate during the second quarter valued at approximately $68,000. XTX Topco Ltd purchased a new position in shares of Ares Commercial Real Estate during the second quarter valued at approximately $82,000. EntryPoint Capital LLC purchased a new position in shares of Ares Commercial Real Estate during the first quarter valued at approximately $84,000. Quest Partners LLC boosted its position in shares of Ares Commercial Real Estate by 1,329,500.0% during the second quarter. Quest Partners LLC now owns 13,296 shares of the real estate investment trust’s stock valued at $88,000 after buying an additional 13,295 shares during the period. Finally, Virtu Financial LLC purchased a new position in shares of Ares Commercial Real Estate during the first quarter valued at approximately $108,000. Hedge funds and other institutional investors own 41.34% of the company’s stock.

Ares Commercial Real Estate Stock Up 0.6 %

ACRE stock opened at $6.71 on Friday. The firm has a 50-day moving average of $6.99 and a two-hundred day moving average of $7.01. The company has a market cap of $365.74 million, a price-to-earnings ratio of -8.08 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 12 month low of $6.36 and a 12 month high of $11.24.

Ares Commercial Real Estate Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.90%. Ares Commercial Real Estate’s payout ratio is currently -120.48%.

Analyst Ratings Changes

A number of brokerages recently issued reports on ACRE. BTIG Research reiterated a “neutral” rating on shares of Ares Commercial Real Estate in a report on Friday, July 19th. Wells Fargo & Company downgraded Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $7.50 to $7.00 in a research report on Friday, September 20th. JPMorgan Chase & Co. reduced their price target on Ares Commercial Real Estate from $7.00 to $6.50 and set a “neutral” rating on the stock in a research report on Thursday. Finally, StockNews.com downgraded Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, Ares Commercial Real Estate currently has a consensus rating of “Hold” and a consensus target price of $7.10.

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.