Arete Wealth Advisors LLC Has $119,000 Holdings in Ares Commercial Real Estate Co. (NYSE:ACRE)

Arete Wealth Advisors LLC cut its position in shares of Ares Commercial Real Estate Co. (NYSE:ACRE - Free Report) by 97.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,966 shares of the real estate investment trust's stock after selling 772,775 shares during the quarter. Arete Wealth Advisors LLC's holdings in Ares Commercial Real Estate were worth $119,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ACRE. Prevail Innovative Wealth Advisors LLC acquired a new stake in Ares Commercial Real Estate in the second quarter worth $894,000. Victory Capital Management Inc. increased its position in Ares Commercial Real Estate by 4.3% in the third quarter. Victory Capital Management Inc. now owns 88,093 shares of the real estate investment trust's stock worth $617,000 after buying an additional 3,593 shares during the period. Van ECK Associates Corp increased its position in Ares Commercial Real Estate by 26.9% in the second quarter. Van ECK Associates Corp now owns 524,694 shares of the real estate investment trust's stock worth $3,489,000 after buying an additional 111,194 shares during the period. Evergreen Capital Management LLC acquired a new stake in Ares Commercial Real Estate in the second quarter worth $151,000. Finally, Inspire Investing LLC increased its position in Ares Commercial Real Estate by 10.1% in the second quarter. Inspire Investing LLC now owns 53,467 shares of the real estate investment trust's stock worth $356,000 after buying an additional 4,926 shares during the period. 41.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ACRE shares. JPMorgan Chase & Co. dropped their target price on Ares Commercial Real Estate from $7.00 to $6.50 and set a "neutral" rating on the stock in a research report on Thursday, October 17th. JMP Securities reaffirmed a "market perform" rating on shares of Ares Commercial Real Estate in a research report on Monday, December 9th. Finally, Wells Fargo & Company lowered Ares Commercial Real Estate from an "equal weight" rating to an "underweight" rating and lowered their price target for the company from $7.50 to $7.00 in a report on Friday, September 20th. Three equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $7.10.

Ares Commercial Real Estate Stock Performance

Shares of ACRE traded up $0.02 during trading hours on Friday, reaching $7.19. 380,275 shares of the company's stock traded hands, compared to its average volume of 556,953. The business's fifty day simple moving average is $6.85 and its two-hundred day simple moving average is $7.02. Ares Commercial Real Estate Co. has a twelve month low of $6.25 and a twelve month high of $11.24. The firm has a market capitalization of $392.14 million, a price-to-earnings ratio of -6.09 and a beta of 1.48. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.87 and a quick ratio of 0.87.

Ares Commercial Real Estate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 13.91%. Ares Commercial Real Estate's dividend payout ratio is currently -84.75%.

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.