Short Interest in Ares Commercial Real Estate Co. (NYSE:ACRE) Expands By 6.2%

Ares Commercial Real Estate Co. (NYSE:ACRE) was the recipient of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 1,880,000 shares, a growth of 6.2% from the March 31st total of 1,770,000 shares. Based on an average trading volume of 769,300 shares, the days-to-cover ratio is currently 2.4 days.

Ares Commercial Real Estate Stock Performance

ACRE stock opened at $6.93 on Thursday. The company has a debt-to-equity ratio of 2.42, a current ratio of 1.43 and a quick ratio of 1.43. Ares Commercial Real Estate has a 1-year low of $6.36 and a 1-year high of $11.24. The business has a 50-day moving average price of $7.28 and a 200 day moving average price of $8.93. The company has a market capitalization of $377.13 million, a P/E ratio of -9.62 and a beta of 1.41.

Ares Commercial Real Estate Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Thursday, March 28th were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.00 annualized dividend and a dividend yield of 14.43%. Ares Commercial Real Estate’s dividend payout ratio is currently -138.89%.

Wall Street Analyst Weigh In

ACRE has been the subject of a number of analyst reports. UBS Group cut their price target on Ares Commercial Real Estate from $10.50 to $8.00 and set a “neutral” rating for the company in a research note on Wednesday, March 20th. TheStreet lowered shares of Ares Commercial Real Estate from a “c-” rating to a “d+” rating in a research note on Tuesday, March 5th. Keefe, Bruyette & Woods cut their price target on shares of Ares Commercial Real Estate from $8.00 to $7.50 and set a “market perform” rating on the stock in a report on Wednesday, April 10th. JPMorgan Chase & Co. decreased their price objective on shares of Ares Commercial Real Estate from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, April 10th. Finally, Bank of America reissued an “underperform” rating and issued a $7.00 price objective (down from $11.00) on shares of Ares Commercial Real Estate in a research report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat.com, Ares Commercial Real Estate presently has a consensus rating of “Hold” and a consensus price target of $8.79.

Insider Transactions at Ares Commercial Real Estate

In related news, CEO Bryan Patrick Donohoe acquired 3,509 shares of the stock in a transaction that occurred on Sunday, March 10th. The shares were bought at an average price of $14.32 per share, for a total transaction of $50,248.88. Following the completion of the transaction, the chief executive officer now directly owns 41,259 shares in the company, valued at $590,828.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Ares Commercial Real Estate

A number of hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC purchased a new stake in shares of Ares Commercial Real Estate during the 4th quarter worth $29,000. Jaffetilchin Investment Partners LLC raised its holdings in Ares Commercial Real Estate by 15.4% in the third quarter. Jaffetilchin Investment Partners LLC now owns 16,903 shares of the real estate investment trust’s stock worth $161,000 after purchasing an additional 2,259 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Ares Commercial Real Estate by 47.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,996 shares of the real estate investment trust’s stock worth $181,000 after purchasing an additional 6,116 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of Ares Commercial Real Estate by 18.1% during the fourth quarter. New York State Common Retirement Fund now owns 19,161 shares of the real estate investment trust’s stock valued at $199,000 after buying an additional 2,933 shares during the last quarter. Finally, Triumph Capital Management boosted its holdings in shares of Ares Commercial Real Estate by 15.0% in the 1st quarter. Triumph Capital Management now owns 20,178 shares of the real estate investment trust’s stock valued at $146,000 after buying an additional 2,626 shares in the last quarter. 41.34% of the stock is currently owned by institutional investors.

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.