ExodusPoint Capital Management LP Invests $891,000 in Ares Commercial Real Estate Co. (NYSE:ACRE)

ExodusPoint Capital Management LP bought a new position in Ares Commercial Real Estate Co. (NYSE:ACRE - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 151,295 shares of the real estate investment trust's stock, valued at approximately $891,000. ExodusPoint Capital Management LP owned approximately 0.28% of Ares Commercial Real Estate as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. FMR LLC increased its holdings in Ares Commercial Real Estate by 211.0% in the 3rd quarter. FMR LLC now owns 7,741 shares of the real estate investment trust's stock worth $54,000 after buying an additional 5,252 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Ares Commercial Real Estate by 17.1% during the third quarter. BNP Paribas Financial Markets now owns 11,733 shares of the real estate investment trust's stock worth $82,000 after purchasing an additional 1,711 shares during the last quarter. Centiva Capital LP acquired a new position in Ares Commercial Real Estate during the third quarter valued at $253,000. State Street Corp boosted its holdings in Ares Commercial Real Estate by 2.3% in the third quarter. State Street Corp now owns 1,052,314 shares of the real estate investment trust's stock valued at $7,627,000 after purchasing an additional 23,845 shares during the last quarter. Finally, Jane Street Group LLC raised its stake in shares of Ares Commercial Real Estate by 19.1% during the 3rd quarter. Jane Street Group LLC now owns 71,772 shares of the real estate investment trust's stock valued at $502,000 after buying an additional 11,511 shares during the last quarter. 41.34% of the stock is owned by hedge funds and other institutional investors.

Ares Commercial Real Estate Trading Down 1.2 %

NYSE:ACRE traded down $0.05 during trading hours on Wednesday, hitting $3.62. The company had a trading volume of 129,070 shares, compared to its average volume of 648,137. The company has a 50-day moving average of $4.69 and a 200 day moving average of $5.85. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.17. The company has a market cap of $198.31 million, a P/E ratio of -5.56 and a beta of 1.22. Ares Commercial Real Estate Co. has a 1 year low of $3.35 and a 1 year high of $7.99.

Ares Commercial Real Estate Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.15 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.60 annualized dividend and a dividend yield of 16.60%. Ares Commercial Real Estate's dividend payout ratio (DPR) is -92.31%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Keefe, Bruyette & Woods decreased their price target on Ares Commercial Real Estate from $5.50 to $4.50 and set a "market perform" rating for the company in a report on Monday, April 7th. UBS Group cut their price objective on shares of Ares Commercial Real Estate from $5.25 to $3.75 and set a "neutral" rating for the company in a report on Wednesday. JPMorgan Chase & Co. cut their price target on Ares Commercial Real Estate from $6.00 to $5.50 and set a "neutral" rating for the company in a research note on Thursday, February 13th. StockNews.com raised Ares Commercial Real Estate from a "sell" rating to a "hold" rating in a report on Tuesday, December 17th. Finally, JMP Securities reiterated a "market perform" rating on shares of Ares Commercial Real Estate in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $5.19.

Insider Activity

In other Ares Commercial Real Estate news, VP Anton Feingold sold 7,615 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $5.68, for a total transaction of $43,253.20. Following the completion of the transaction, the vice president now owns 78,360 shares of the company's stock, valued at $445,084.80. This trade represents a 8.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.80% 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.