Evoke Wealth LLC Sells 51,064 Shares of Ares Commercial Real Estate Co. (NYSE:ACRE)

Evoke Wealth LLC decreased its position in shares of Ares Commercial Real Estate Co. (NYSE:ACRE - Free Report) by 48.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,000 shares of the real estate investment trust's stock after selling 51,064 shares during the quarter. Evoke Wealth LLC owned about 0.10% of Ares Commercial Real Estate worth $332,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in shares of Ares Commercial Real Estate by 187.3% during the third quarter. JPMorgan Chase & Co. now owns 415,332 shares of the real estate investment trust's stock worth $2,907,000 after purchasing an additional 270,791 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Ares Commercial Real Estate by 19.5% during the fourth quarter. Van ECK Associates Corp now owns 591,036 shares of the real estate investment trust's stock worth $3,481,000 after acquiring an additional 96,551 shares in the last quarter. Raymond James Financial Inc. bought a new position in Ares Commercial Real Estate during the fourth quarter worth about $430,000. Commonwealth Equity Services LLC grew its stake in Ares Commercial Real Estate by 421.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 73,551 shares of the real estate investment trust's stock valued at $433,000 after acquiring an additional 59,445 shares during the period. Finally, Barclays PLC increased its holdings in shares of Ares Commercial Real Estate by 279.8% in the third quarter. Barclays PLC now owns 69,821 shares of the real estate investment trust's stock worth $489,000 after acquiring an additional 51,435 shares in the last quarter. Institutional investors and hedge funds own 41.34% of the company's stock.

Insider Activity

In related news, VP Anton Feingold sold 7,615 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was 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 directly owns 78,360 shares of the company's stock, valued at approximately $445,084.80. This represents a 8.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ACRE. StockNews.com upgraded Ares Commercial Real Estate from a "sell" rating to a "hold" rating in a report on Tuesday, December 17th. JMP Securities reaffirmed a "market perform" rating on shares of Ares Commercial Real Estate in a research note on Thursday, February 13th. JPMorgan Chase & Co. lowered their price objective on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a "neutral" rating for the company in a research report on Thursday, February 13th. Keefe, Bruyette & Woods cut their price objective on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a "market perform" rating on the stock in a research report on Thursday, February 13th. Finally, UBS Group reduced their target price on shares of Ares Commercial Real Estate from $6.00 to $5.25 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $5.81.

Ares Commercial Real Estate Stock Down 1.7 %

Shares of ACRE stock traded down $0.09 during trading on Monday, reaching $4.82. The company's stock had a trading volume of 500,140 shares, compared to its average volume of 539,946. Ares Commercial Real Estate Co. has a one year low of $4.61 and a one year high of $7.99. The business has a fifty day moving average price of $5.29 and a 200-day moving average price of $6.25. The company has a market cap of $264.14 million, a price-to-earnings ratio of -7.41 and a beta of 1.57. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.17.

Ares Commercial Real Estate Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 12.46%. Ares Commercial Real Estate's dividend payout ratio is -92.31%.

About Ares Commercial Real Estate

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.