Arete Wealth Advisors LLC Has $119,000 Position in Ares Commercial Real Estate Co. (NYSE:ACRE)

Arete Wealth Advisors LLC lessened its stake in shares of Ares Commercial Real Estate Co. (NYSE:ACRE) by 97.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 16,966 shares of the real estate investment trust’s stock after selling 772,775 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Ares Commercial Real Estate were worth $119,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. BNP Paribas Financial Markets lifted its position in shares of Ares Commercial Real Estate by 17.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,733 shares of the real estate investment trust’s stock worth $82,000 after purchasing an additional 1,711 shares during the last quarter. Rhumbline Advisers increased its position in Ares Commercial Real Estate by 2.1% in the 2nd quarter. Rhumbline Advisers now owns 86,466 shares of the real estate investment trust’s stock worth $575,000 after buying an additional 1,797 shares during the period. Strategic Wealth Partners Ltd. lifted its holdings in shares of Ares Commercial Real Estate by 11.1% during the third quarter. Strategic Wealth Partners Ltd. now owns 20,000 shares of the real estate investment trust’s stock worth $140,000 after buying an additional 2,000 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Ares Commercial Real Estate by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 41,492 shares of the real estate investment trust’s stock valued at $276,000 after acquiring an additional 2,769 shares during the period. Finally, Victory Capital Management Inc. increased its position in Ares Commercial Real Estate by 4.3% during the third quarter. Victory Capital Management Inc. now owns 88,093 shares of the real estate investment trust’s stock worth $617,000 after acquiring an additional 3,593 shares during the period. Institutional investors own 41.34% of the company’s stock.

Ares Commercial Real Estate Price Performance

Shares of Ares Commercial Real Estate stock opened at $7.19 on Friday. The firm has a market cap of $392.14 million, a P/E ratio of -6.09 and a beta of 1.48. The firm’s 50-day simple moving average is $6.85 and its 200-day simple moving average is $7.02. Ares Commercial Real Estate Co. has a twelve month low of $6.25 and a twelve month high of $11.24. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.87 and a current ratio of 0.87.

Ares Commercial Real Estate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 13.91%. The ex-dividend date is Tuesday, December 31st. Ares Commercial Real Estate’s payout ratio is -84.75%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ACRE shares. Wells Fargo & Company downgraded shares of Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $7.50 to $7.00 in a report on Friday, September 20th. JMP Securities reiterated a “market perform” rating on shares of Ares Commercial Real Estate in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. lowered 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 note on Thursday, October 17th. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, Ares Commercial Real Estate 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.