Ares Commercial Real Estate Co. (NYSE: ACRE – Get Rating) was the target of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 1,160,000 shares, a growth of 18.1% from the March 31st total of 982,400 shares. Based on an average daily volume of 542,200 shares, the short-interest ratio is currently 2.1 days.
In other news, Director William Stephen Benjamin bought 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 23rd. The stock was acquired at an average cost of $ 14.05 per share, for a total transaction of $ 252,900.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.95% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Spire Wealth Management bought a new position in shares of Ares Commercial Real Estate in the 4th quarter valued at $ 688,000. Roosevelt Investment Group LLC acquired a new stake in Ares Commercial Real Estate in the fourth quarter valued at about $ 291,000. Voya Investment Management LLC raised its stake in Ares Commercial Real Estate by 7.1% during the third quarter. Voya Investment Management LLC now owns 14,494 shares of the real estate investment trust’s stock worth $ 219,000 after acquiring an additional 961 shares in the last quarter. Barclays PLC lifted its holdings in shares of Ares Commercial Real Estate by 274.8% in the third quarter. Barclays PLC now owns 17,887 shares of the real estate investment trust’s stock worth $ 270,000 after acquiring an additional 13,115 shares during the last quarter. Finally, Tudor Investment Corp Et Al boosted its stake in shares of Ares Commercial Real Estate by 84.3% in the 3rd quarter. Tudor Investment Corp Et Al now owns 49,719 shares of the real estate investment trust’s stock valued at $ 750,000 after purchasing an additional 22,737 shares in the last quarter. Hedge funds and other institutional investors own 46.66% of the company’s stock.
Shares of ACRE opened at $ 15.34 on Wednesday. Ares Commercial Real Estate has a 12 month low of $ 13.48 and a 12 month high of $ 16.98. The firm’s 50 day moving average is $ 15.30 and its 200-day moving average is $ 15.07. The stock has a market capitalization of $ 725.09 million, a PE ratio of 10.58 and a beta of 1.20. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.76.
Ares Commercial Real Estate (NYSE: ACRE – Get Rating) last announced its earnings results on Tuesday, May 3rd. The real estate investment trust reported $ 0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $ 0.36 by ($ 0.02). Ares Commercial Real Estate had a return on equity of 9.83% and a net margin of 59.23%. During the same quarter in the prior year, the firm earned $ 0.38 EPS. Equities research analysts predict that Ares Commercial Real Estate will post 1.39 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 14th. Shareholders of record on Thursday, March 31st were given a dividend of $ 0.33 per share. The ex-dividend date was Wednesday, March 30th. This represents a $ 1.32 annualized dividend and a yield of 8.60%. Ares Commercial Real Estate’s dividend payout ratio is currently 91.03%.
Several research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Ares Commercial Real Estate from $ 14.50 to $ 16.00 and gave the company a “neutral” rating in a report on Monday, April 25th. Zacks Investment Research cut shares of Ares Commercial Real Estate from a “buy” rating to a “hold” rating in a report on Wednesday, April 27th. StockNews.com assumed coverage on shares of Ares Commercial Real Estate in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, JMP Securities increased their price target on shares of Ares Commercial Real Estate from $ 16.00 to $ 16.50 and gave the company a “market outperform” rating in a report on Thursday, March 31st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $ 16.70.
Ares Commercial Real Estate Company Profile (Get Rating)
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. The company provides a range of financing solutions for the owners, operators, and sponsors of CRE properties. It originates senior mortgage loans, subordinate debt products, mezzanine loans, real estate preferred equity investments, and other CRE investments, including commercial mortgage backed securities.
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