Barclays PLC Purchases 51,435 Shares of Ares Commercial Real Estate Co. (NYSE:ACRE)

Barclays PLC increased its holdings in Ares Commercial Real Estate Co. (NYSE:ACRE - Free Report) by 279.8% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 69,821 shares of the real estate investment trust's stock after buying an additional 51,435 shares during the quarter. Barclays PLC owned about 0.13% of Ares Commercial Real Estate worth $489,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ACRE. Geode Capital Management LLC lifted its holdings in shares of Ares Commercial Real Estate by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,272,163 shares of the real estate investment trust's stock valued at $8,907,000 after buying an additional 16,309 shares during the period. Jane Street Group LLC lifted its holdings in Ares Commercial Real Estate by 19.1% in the third quarter. Jane Street Group LLC now owns 71,772 shares of the real estate investment trust's stock valued at $502,000 after acquiring an additional 11,511 shares during the period. State Street Corp boosted its position 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 worth $7,627,000 after purchasing an additional 23,845 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in shares of Ares Commercial Real Estate by 1.0% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 861,390 shares of the real estate investment trust's stock valued at $6,030,000 after purchasing an additional 8,900 shares during the period. Finally, Centiva Capital LP purchased a new stake in shares of Ares Commercial Real Estate during the 3rd quarter valued at about $253,000. Hedge funds and other institutional investors own 41.34% of the company's stock.

Ares Commercial Real Estate Price Performance

NYSE:ACRE traded up $0.12 on Friday, reaching $5.93. 504,835 shares of the company's stock traded hands, compared to its average volume of 815,087. The firm has a market cap of $323.53 million, a PE ratio of -5.03 and a beta of 1.51. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.38. The stock has a 50-day simple moving average of $6.57 and a 200-day simple moving average of $6.86. Ares Commercial Real Estate Co. has a 12 month low of $5.33 and a 12 month high of $10.53.

Ares Commercial Real Estate Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.25 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 16.86%. Ares Commercial Real Estate's payout ratio is -84.75%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ACRE. JMP Securities reissued a "market perform" rating on shares of Ares Commercial Real Estate in a report on Monday, December 9th. StockNews.com upgraded shares of Ares Commercial Real Estate from a "sell" rating to a "hold" rating in a research note on Tuesday, December 17th. Keefe, Bruyette & Woods cut their price objective on shares of Ares Commercial Real Estate from $7.00 to $6.00 and set a "market perform" rating for the company in a research report on Tuesday. JPMorgan Chase & Co. decreased their target price on 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. Finally, Wells Fargo & Company lowered Ares Commercial Real Estate from an "equal weight" rating to an "underweight" rating and cut their price target for the company from $7.50 to $7.00 in a report on Friday, September 20th. Two analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, Ares Commercial Real Estate currently has an average rating of "Hold" and a consensus price target of $6.90.

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.