Short Interest in Ares Commercial Real Estate Co. (NYSE:ACRE) Increases By 14.1%

Ares Commercial Real Estate Co. (NYSE:ACRE - Get Free Report) was the recipient of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 1,700,000 shares, a growth of 14.1% from the November 30th total of 1,490,000 shares. Based on an average daily volume of 534,400 shares, the days-to-cover ratio is presently 3.2 days.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ACRE. StockNews.com raised shares of Ares Commercial Real Estate from a "sell" rating to a "hold" rating in a report on Tuesday, December 17th. JPMorgan Chase & Co. lowered their price target on shares of Ares Commercial Real Estate from $7.00 to $6.50 and set a "neutral" rating on the stock in a report on Thursday, October 17th. Wells Fargo & Company lowered Ares Commercial Real Estate from an "equal weight" rating to an "underweight" rating and reduced their price objective for the company from $7.50 to $7.00 in a research note on Friday, September 20th. Finally, JMP Securities reissued a "market perform" rating on shares of Ares Commercial Real Estate in a report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $7.10.

Ares Commercial Real Estate Price Performance

Shares of Ares Commercial Real Estate stock traded down $0.14 during trading hours on Wednesday, reaching $5.89. The stock had a trading volume of 826,488 shares, compared to its average volume of 584,947. Ares Commercial Real Estate has a twelve month low of $5.77 and a twelve month high of $10.53. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.38. The firm has a market capitalization of $321.25 million, a PE ratio of -4.99 and a beta of 1.48. The stock's 50 day moving average is $6.75 and its 200 day moving average is $6.95.

Ares Commercial Real Estate Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 16.98%. Ares Commercial Real Estate's dividend payout ratio is currently -84.75%.

Institutional Trading of Ares Commercial Real Estate

A number of institutional investors and hedge funds have recently made changes to their positions in ACRE. BNP Paribas Financial Markets increased its stake in Ares Commercial Real Estate by 17.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,733 shares of the real estate investment trust's stock worth $82,000 after buying an additional 1,711 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Ares Commercial Real Estate by 2.1% in the second quarter. Rhumbline Advisers now owns 86,466 shares of the real estate investment trust's stock worth $575,000 after acquiring an additional 1,797 shares during the last quarter. Strategic Wealth Partners Ltd. increased its position in shares of Ares Commercial Real Estate by 11.1% during the third quarter. Strategic Wealth Partners Ltd. now owns 20,000 shares of the real estate investment trust's stock worth $140,000 after purchasing an additional 2,000 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Ares Commercial Real Estate by 7.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,492 shares of the real estate investment trust's stock valued at $276,000 after purchasing an additional 2,769 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Ares Commercial Real Estate by 4.3% in the 3rd quarter. Victory Capital Management Inc. now owns 88,093 shares of the real estate investment trust's stock valued at $617,000 after purchasing an additional 3,593 shares in the last quarter. 41.34% of the stock is currently owned by hedge funds and other 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.