JPMorgan Chase & Co. Acquires 130,635 Shares of Ares Commercial Real Estate Co. (NYSE:ACRE)

JPMorgan Chase & Co. raised its position in Ares Commercial Real Estate Co. (NYSE:ACRE - Free Report) by 31.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 545,967 shares of the real estate investment trust's stock after acquiring an additional 130,635 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.00% of Ares Commercial Real Estate worth $3,216,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Morey & Quinn Wealth Partners LLC acquired a new position in Ares Commercial Real Estate in the fourth quarter valued at $92,000. Virtu Financial LLC bought a new stake in Ares Commercial Real Estate during the 4th quarter valued at $117,000. Quantbot Technologies LP acquired a new position in shares of Ares Commercial Real Estate during the 4th quarter valued at $132,000. Intech Investment Management LLC increased its holdings in shares of Ares Commercial Real Estate by 21.5% in the fourth quarter. Intech Investment Management LLC now owns 16,635 shares of the real estate investment trust's stock valued at $98,000 after buying an additional 2,943 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in shares of Ares Commercial Real Estate by 421.4% during 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. 41.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ACRE has been the subject of a number of analyst reports. UBS Group reduced their price target on Ares Commercial Real Estate from $5.25 to $3.75 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods decreased their price objective on shares of Ares Commercial Real Estate from $5.50 to $4.50 and set a "market perform" rating on the stock in a research note on Monday, April 7th. JMP Securities reaffirmed a "market perform" rating on shares of Ares Commercial Real Estate in a research note on Monday. Finally, 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. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $5.19.

Ares Commercial Real Estate Price Performance

ACRE stock traded up $0.04 during midday trading on Thursday, reaching $3.81. 234,460 shares of the stock were exchanged, compared to its average volume of 564,258. The company has a fifty day moving average price of $4.46 and a 200 day moving average price of $5.73. Ares Commercial Real Estate Co. has a 52 week low of $3.35 and a 52 week high of $7.99. The stock has a market capitalization of $209.01 million, a PE ratio of -5.86 and a beta of 1.22. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.87 and a quick ratio of 0.87.

Ares Commercial Real Estate Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.60 dividend on an annualized basis and a yield of 15.75%. Ares Commercial Real Estate's dividend payout ratio (DPR) is presently -92.31%.

Insider Activity at Ares Commercial Real Estate

In related news, VP Anton Feingold sold 7,615 shares of the firm's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $5.68, for a total transaction of $43,253.20. Following the transaction, the vice president now directly owns 78,360 shares of the company's stock, valued at approximately $445,084.80. This trade represents a 8.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.80% of the stock is owned by insiders.

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.