Virtu Financial LLC Acquires Shares of 19,893 Ares Commercial Real Estate Co. (NYSE:ACRE)

Virtu Financial LLC acquired a new position in shares of Ares Commercial Real Estate Co. (NYSE:ACRE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 19,893 shares of the real estate investment trust’s stock, valued at approximately $117,000.

Several other institutional investors and hedge funds also recently modified their holdings of ACRE. Intech Investment Management LLC acquired a new position in Ares Commercial Real Estate during the 3rd quarter worth approximately $96,000. FMR LLC lifted its position in shares of Ares Commercial Real Estate by 211.0% during the third 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. BNP Paribas Financial Markets lifted its position in shares of Ares Commercial Real Estate by 17.1% during the third 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. Centiva Capital LP acquired a new stake in Ares Commercial Real Estate during the 3rd quarter valued at $253,000. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in Ares Commercial Real Estate by 1.0% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 861,390 shares of the real estate investment trust’s stock valued at $6,030,000 after purchasing an additional 8,900 shares in the last quarter. Hedge funds and other institutional investors own 41.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ACRE. JPMorgan Chase & Co. decreased their price objective on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a “neutral” rating for the company 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 note on Thursday, February 13th. Keefe, Bruyette & Woods cut their target price on 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. StockNews.com raised shares of Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, UBS Group cut their price target on shares of Ares Commercial Real Estate from $6.00 to $5.25 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $5.81.

Ares Commercial Real Estate Trading Down 1.8 %

NYSE:ACRE opened at $4.70 on Monday. Ares Commercial Real Estate Co. has a 52 week low of $4.61 and a 52 week high of $7.99. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.17. The company has a market cap of $257.55 million, a PE ratio of -7.22 and a beta of 1.57. The business’s 50 day moving average is $5.20 and its two-hundred day moving average is $6.17.

Ares Commercial Real Estate Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 12.78%. The ex-dividend date is Monday, March 31st. Ares Commercial Real Estate’s dividend payout ratio is presently -92.31%.

Insider Buying and Selling at Ares Commercial Real Estate

In other Ares Commercial Real Estate news, VP Anton Feingold sold 7,615 shares of Ares Commercial Real Estate stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $5.68, for a total value of $43,253.20. Following the completion of the transaction, the vice president now directly owns 78,360 shares in the company, valued at $445,084.80. The trade was a 8.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.80% of the stock is owned by insiders.

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.