SG Americas Securities LLC Invests $147,000 in Ares Commercial Real Estate Co. (NYSE:ACRE)

SG Americas Securities LLC purchased a new stake in shares of Ares Commercial Real Estate Co. (NYSE:ACRE) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 20,997 shares of the real estate investment trust’s stock, valued at approximately $147,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ACRE. Vanguard Group Inc. lifted its position in shares of Ares Commercial Real Estate by 1.3% during the first quarter. Vanguard Group Inc. now owns 2,783,379 shares of the real estate investment trust’s stock worth $20,736,000 after purchasing an additional 34,611 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Ares Commercial Real Estate by 11.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 790,404 shares of the real estate investment trust’s stock worth $5,889,000 after buying an additional 81,534 shares during the period. Van ECK Associates Corp lifted its holdings in Ares Commercial Real Estate by 26.9% during the 2nd quarter. Van ECK Associates Corp now owns 524,694 shares of the real estate investment trust’s stock valued at $3,489,000 after buying an additional 111,194 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its position in Ares Commercial Real Estate by 67.8% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 257,235 shares of the real estate investment trust’s stock valued at $1,916,000 after buying an additional 103,902 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Ares Commercial Real Estate by 10.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 206,143 shares of the real estate investment trust’s stock worth $1,371,000 after acquiring an additional 19,626 shares in the last quarter. 41.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on ACRE. StockNews.com downgraded shares of Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th. Wells Fargo & Company lowered Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $7.50 to $7.00 in a research report on Friday, September 20th. JPMorgan Chase & Co. dropped 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 report on Thursday, October 17th. Finally, BTIG Research restated a “neutral” rating on shares of Ares Commercial Real Estate in a research note on Friday, July 19th. Three equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $7.10.

Ares Commercial Real Estate Stock Down 2.0 %

Shares of Ares Commercial Real Estate stock opened at $6.46 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.32. The company has a market cap of $351.84 million, a P/E ratio of -7.78 and a beta of 1.45. The firm’s 50 day moving average price is $6.97 and its 200-day moving average price is $6.98. Ares Commercial Real Estate Co. has a 52-week low of $6.36 and a 52-week high of $11.24.

Ares Commercial Real Estate Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 15.49%. The ex-dividend date was Monday, September 30th. Ares Commercial Real Estate’s dividend payout ratio is currently -120.48%.

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.