JPMorgan Chase & Co. Has $2.91 Million Holdings in Ares Commercial Real Estate Co. (NYSE:ACRE)

JPMorgan Chase & Co. increased its stake in Ares Commercial Real Estate Co. (NYSE:ACRE - Free Report) by 187.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 415,332 shares of the real estate investment trust's stock after purchasing an additional 270,791 shares during the period. JPMorgan Chase & Co. owned approximately 0.76% of Ares Commercial Real Estate worth $2,907,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Barclays PLC boosted its stake in shares of Ares Commercial Real Estate by 279.8% during the 3rd quarter. Barclays PLC now owns 69,821 shares of the real estate investment trust's stock worth $489,000 after buying an additional 51,435 shares during the last quarter. Geode Capital Management LLC boosted its position in Ares Commercial Real Estate by 1.3% during the third 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 purchasing an additional 16,309 shares during the last quarter. Jane Street Group LLC grew its stake 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 purchasing an additional 11,511 shares in the last quarter. State Street Corp increased its position in shares of Ares Commercial Real Estate by 2.3% during the 3rd 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. Finally, Hotchkis & Wiley Capital Management LLC raised 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 worth $6,030,000 after purchasing an additional 8,900 shares in the last quarter. Institutional investors own 41.34% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on ACRE. Keefe, Bruyette & Woods dropped their price objective on 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. JPMorgan Chase & Co. cut their price target on Ares Commercial Real Estate from $7.00 to $6.50 and set a "neutral" rating for the company in a report on Thursday, October 17th. JMP Securities reiterated a "market perform" rating on shares of Ares Commercial Real Estate in a report on Monday, December 9th. Finally, 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. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $6.90.

Ares Commercial Real Estate Price Performance

Shares of ACRE traded up $0.12 during trading hours on Monday, reaching $5.93. The stock had a trading volume of 504,835 shares, compared to its average volume of 815,087. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.87 and a current ratio of 0.87. Ares Commercial Real Estate Co. has a 12 month low of $5.33 and a 12 month high of $10.53. The stock has a market capitalization of $323.53 million, a PE ratio of -5.03 and a beta of 1.51. The company's 50-day moving average is $6.57 and its two-hundred day moving average is $6.86.

Ares Commercial Real Estate Announces Dividend

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

Ares Commercial Real Estate 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.