Ares Commercial Real Estate Co. (NYSE:ACRE - Get Free Report) CFO Jeffrey Michael Gonzales sold 4,020 shares of the company's 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 $22,833.60. Following the completion of the transaction, the chief financial officer now owns 50,751 shares in the company, valued at approximately $288,265.68. This represents a 7.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Ares Commercial Real Estate Stock Down 0.3 %
Shares of NYSE:ACRE traded down $0.02 during trading hours on Friday, reaching $5.97. The stock had a trading volume of 443,249 shares, compared to its average volume of 465,078. The stock has a market capitalization of $325.33 million, a price-to-earnings ratio of -5.06 and a beta of 1.50. The firm's 50 day moving average is $6.17 and its 200-day moving average is $6.70. Ares Commercial Real Estate Co. has a 1 year low of $5.33 and a 1 year high of $8.85. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.87 and a current ratio of 0.87.
Analyst Ratings Changes
A number of brokerages have issued reports on ACRE. Keefe, Bruyette & Woods cut their price target on shares of Ares Commercial Real Estate from $7.00 to $6.00 and set a "market perform" rating on the stock in a research note on Tuesday, January 14th. StockNews.com raised shares of Ares Commercial Real Estate from a "sell" rating to a "hold" rating in a research note on Tuesday, December 17th. JPMorgan Chase & Co. reduced their target price on shares of Ares Commercial Real Estate from $7.00 to $6.00 and set a "neutral" rating on the stock in a report on Tuesday, January 21st. Finally, JMP Securities restated a "market perform" rating on shares of Ares Commercial Real Estate in a research note on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $6.80.
View Our Latest Analysis on ACRE
Institutional Trading of Ares Commercial Real Estate
A number of hedge funds and other institutional investors have recently bought and sold shares of ACRE. FMR LLC increased its holdings in shares of 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 valued at $54,000 after acquiring an additional 5,252 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Ares Commercial Real Estate by 17.1% in the third quarter. BNP Paribas Financial Markets now owns 11,733 shares of the real estate investment trust's stock valued at $82,000 after purchasing an additional 1,711 shares during the last quarter. New York State Common Retirement Fund raised its holdings in Ares Commercial Real Estate by 160.9% during the fourth quarter. New York State Common Retirement Fund now owns 11,838 shares of the real estate investment trust's stock worth $70,000 after purchasing an additional 7,300 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Ares Commercial Real Estate during the 3rd quarter worth approximately $96,000. Finally, AQR Capital Management LLC acquired a new position in shares of Ares Commercial Real Estate in the 2nd quarter valued at $122,000. 41.34% of the stock is currently owned by institutional investors and hedge funds.
Ares Commercial Real Estate Company Profile
(
Get Free Report)
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.
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