Victory Capital Management Inc. Raises Holdings in Ares Commercial Real Estate Co. (NYSE:ACRE)

Victory Capital Management Inc. lifted its holdings in shares of Ares Commercial Real Estate Co. (NYSE:ACRE) by 37.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,000 shares of the real estate investment trust’s stock after purchasing an additional 32,907 shares during the period. Victory Capital Management Inc.’s holdings in Ares Commercial Real Estate were worth $713,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ACRE. FMR LLC increased its stake in shares of 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 worth $54,000 after purchasing an additional 5,252 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of Ares Commercial Real Estate by 160.9% during the 4th quarter. New York State Common Retirement Fund now owns 11,838 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 7,300 shares in the last quarter. BNP Paribas Financial Markets increased its stake 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 in the last quarter. Intech Investment Management LLC purchased a new position in shares of Ares Commercial Real Estate during the 3rd quarter worth approximately $96,000. Finally, Nisa Investment Advisors LLC increased its stake in shares of Ares Commercial Real Estate by 19.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 37,339 shares of the real estate investment trust’s stock worth $229,000 after purchasing an additional 6,072 shares in the last quarter. 41.34% of the stock is owned by hedge funds and other institutional investors.

Ares Commercial Real Estate Stock Down 0.9 %

Shares of NYSE ACRE opened at $4.88 on Friday. Ares Commercial Real Estate Co. has a 52-week low of $4.61 and a 52-week high of $7.99. The firm has a fifty day moving average of $5.29 and a 200-day moving average of $6.26. The stock has a market capitalization of $267.43 million, a PE ratio of -7.50 and a beta of 1.57. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.17.

Ares Commercial Real Estate Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, March 31st. This represents a $0.60 annualized dividend and a dividend yield of 12.31%. Ares Commercial Real Estate’s dividend payout ratio is presently -92.31%.

Insider Activity

In other news, VP Anton Feingold sold 7,615 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $5.68, for a total transaction of $43,253.20. Following the completion of the sale, the vice president now directly owns 78,360 shares of the company’s stock, valued at $445,084.80. The trade was a 8.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

ACRE has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. JMP Securities restated a “market perform” rating on shares of Ares Commercial Real Estate in a research report on Thursday, February 13th. UBS Group decreased their target price on shares of Ares Commercial Real Estate from $6.00 to $5.25 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. StockNews.com upgraded shares of Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a “market perform” rating on the stock in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $5.81.

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.