Quest Partners LLC Makes New $676,000 Investment in Ares Commercial Real Estate Co. (NYSE:ACRE)

Quest Partners LLC acquired a new position in shares of Ares Commercial Real Estate Co. (NYSE:ACRE) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 65,265 shares of the real estate investment trust’s stock, valued at approximately $676,000.

A number of other hedge funds have also modified their holdings of the business. Raymond James Financial Services Advisors Inc. grew its stake in Ares Commercial Real Estate by 33.7% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 136,850 shares of the real estate investment trust’s stock worth $1,418,000 after acquiring an additional 34,491 shares during the period. Penserra Capital Management LLC boosted its holdings in shares of Ares Commercial Real Estate by 14.4% in the 3rd quarter. Penserra Capital Management LLC now owns 51,638 shares of the real estate investment trust’s stock valued at $491,000 after purchasing an additional 6,519 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of Ares Commercial Real Estate in the 4th quarter valued at $29,000. SG Americas Securities LLC boosted its holdings in shares of Ares Commercial Real Estate by 21.9% in the 4th quarter. SG Americas Securities LLC now owns 29,395 shares of the real estate investment trust’s stock valued at $305,000 after purchasing an additional 5,286 shares during the last quarter. Finally, Samalin Investment Counsel LLC boosted its holdings in shares of Ares Commercial Real Estate by 12.6% in the 3rd quarter. Samalin Investment Counsel LLC now owns 25,519 shares of the real estate investment trust’s stock valued at $243,000 after purchasing an additional 2,859 shares during the last quarter. 41.34% of the stock is owned by hedge funds and other institutional investors.

Ares Commercial Real Estate Stock Performance

Shares of ACRE stock opened at $6.96 on Thursday. Ares Commercial Real Estate Co. has a 12 month low of $6.36 and a 12 month high of $11.24. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 2.29. The company’s fifty day moving average price is $7.06 and its two-hundred day moving average price is $8.67.

Ares Commercial Real Estate (NYSE:ACRE) last issued its quarterly earnings data on Thursday, May 9th. The real estate investment trust reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.34). The firm had revenue of $18.69 million during the quarter, compared to analyst estimates of $43.77 million. Ares Commercial Real Estate had a positive return on equity of 0.84% and a negative net margin of 54.60%. During the same quarter in the prior year, the firm earned $0.26 EPS. On average, research analysts anticipate that Ares Commercial Real Estate Co. will post -0.66 earnings per share for the current fiscal year.

Ares Commercial Real Estate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 16th. Stockholders of record on Friday, June 28th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 14.37%. The ex-dividend date of this dividend is Friday, June 28th. Ares Commercial Real Estate’s payout ratio is currently -120.48%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Bank of America reiterated an “underperform” rating and issued a $7.00 price target (down previously from $11.00) on shares of Ares Commercial Real Estate in a report on Monday, March 4th. UBS Group reduced their target price on shares of Ares Commercial Real Estate from $10.50 to $8.00 and set a “neutral” rating on the stock in a report on Wednesday, March 20th. Keefe, Bruyette & Woods reduced their target price on shares of Ares Commercial Real Estate from $7.50 to $7.00 and set a “market perform” rating on the stock in a report on Friday, May 10th. TheStreet lowered shares of Ares Commercial Real Estate from a “c-” rating to a “d+” rating in a report on Tuesday, March 5th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Ares Commercial Real Estate from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat, Ares Commercial Real Estate currently has a consensus rating of “Hold” and an average target price of $8.42.

Insider Transactions at Ares Commercial Real Estate

In related news, CEO Bryan Patrick Donohoe bought 3,509 shares of the company’s stock in a transaction dated Sunday, March 10th. The stock was bought at an average price of $14.32 per share, with a total value of $50,248.88. Following the transaction, the chief executive officer now owns 41,259 shares of the company’s stock, valued at $590,828.88. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.80% of the company’s stock.

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.