Jane Street Group LLC Raises Stock Position in Ares Commercial Real Estate Co. (NYSE:ACRE)

Jane Street Group LLC lifted its holdings in Ares Commercial Real Estate Co. (NYSE:ACRE) by 19.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,772 shares of the real estate investment trust’s stock after buying an additional 11,511 shares during the quarter. Jane Street Group LLC’s holdings in Ares Commercial Real Estate were worth $502,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ACRE. FMR LLC lifted its stake in Ares Commercial Real Estate by 211.0% during the 3rd quarter. FMR LLC now owns 7,741 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 5,252 shares during the period. State Street Corp raised its stake in Ares Commercial Real Estate by 2.3% during the 3rd quarter. State Street Corp now owns 1,052,314 shares of the real estate investment trust’s stock worth $7,627,000 after acquiring an additional 23,845 shares during the period. Prevail Innovative Wealth Advisors LLC bought a new stake in Ares Commercial Real Estate during the 2nd quarter worth approximately $894,000. Victory Capital Management Inc. raised its stake in Ares Commercial Real Estate by 4.3% during the 3rd 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. Finally, BNP Paribas Financial Markets raised its stake in 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 acquiring an additional 1,711 shares during the period. 41.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company lowered shares of Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $7.50 to $7.00 in a report on Friday, September 20th. StockNews.com raised shares of Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a report on Tuesday, December 17th. JMP Securities reaffirmed a “market perform” rating on shares of Ares Commercial Real Estate in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Ares Commercial Real Estate from $7.00 to $6.50 and set a “neutral” rating for the company in a report on Thursday, October 17th. Two analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, Ares Commercial Real Estate has a consensus rating of “Hold” and an average target price of $7.10.

Ares Commercial Real Estate Price Performance

ACRE opened at $6.18 on Monday. The business’s 50-day moving average is $6.74 and its two-hundred day moving average is $6.94. Ares Commercial Real Estate Co. has a 1 year low of $5.77 and a 1 year high of $10.53. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market capitalization of $337.07 million, a PE ratio of -5.24 and a beta of 1.51.

Ares Commercial Real Estate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.25 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 16.18%. Ares Commercial Real Estate’s dividend payout ratio is currently -84.75%.

Ares Commercial Real Estate 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.