Sei Investments Co. Acquires 10,600 Shares of Ares Commercial Real Estate Co. (NYSE:ACRE)

Sei Investments Co. raised its position in shares of Ares Commercial Real Estate Co. (NYSE:ACRE) by 52.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,795 shares of the real estate investment trust’s stock after acquiring an additional 10,600 shares during the quarter. Sei Investments Co.’s holdings in Ares Commercial Real Estate were worth $205,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Rhumbline Advisers grew its holdings in Ares Commercial Real Estate by 2.1% in the second quarter. Rhumbline Advisers now owns 86,466 shares of the real estate investment trust’s stock worth $575,000 after purchasing an additional 1,797 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Ares Commercial Real Estate by 4.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 51,234 shares of the real estate investment trust’s stock worth $382,000 after purchasing an additional 1,949 shares in the last quarter. Inspire Investing LLC boosted its holdings in Ares Commercial Real Estate by 10.1% in the second quarter. Inspire Investing LLC now owns 53,467 shares of the real estate investment trust’s stock worth $356,000 after acquiring an additional 4,926 shares in the last quarter. Bright Futures Wealth Management LLC. grew its holdings in shares of Ares Commercial Real Estate by 11.2% during the second quarter. Bright Futures Wealth Management LLC. now owns 93,962 shares of the real estate investment trust’s stock valued at $625,000 after buying an additional 9,464 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Ares Commercial Real Estate by 12.7% during the second quarter. Victory Capital Management Inc. now owns 84,500 shares of the real estate investment trust’s stock valued at $562,000 after buying an additional 9,500 shares during the last quarter. Institutional investors and hedge funds own 41.34% of the company’s stock.

Ares Commercial Real Estate Price Performance

Shares of ACRE opened at $6.47 on Friday. The firm’s 50-day simple moving average is $7.01 and its two-hundred day simple moving average is $7.03. The stock has a market cap of $352.66 million, a PE ratio of -7.80 and a beta of 1.45. Ares Commercial Real Estate Co. has a fifty-two week low of $6.36 and a fifty-two week high of $11.24. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.87 and a current ratio of 0.87.

Ares Commercial Real Estate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.00 annualized dividend and a yield of 15.46%. Ares Commercial Real Estate’s dividend payout ratio (DPR) is presently -120.48%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ACRE shares. StockNews.com cut Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th. BTIG Research reiterated a “neutral” rating on shares of Ares Commercial Real Estate in a research note on Friday, July 19th. Finally, Wells Fargo & Company lowered shares of Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $7.50 to $7.00 in a research report on Friday, September 20th. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Ares Commercial Real Estate has an average rating of “Hold” and an average target price of $7.20.

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.