Joel Isaacson & Co. LLC Has $146,000 Stake in Ares Commercial Real Estate Co. (NYSE:ACRE)

Joel Isaacson & Co. LLC decreased its stake in shares of Ares Commercial Real Estate Co. (NYSE:ACRE - Free Report) by 79.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 20,847 shares of the real estate investment trust's stock after selling 81,597 shares during the period. Joel Isaacson & Co. LLC's holdings in Ares Commercial Real Estate were worth $146,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of ACRE. Prevail Innovative Wealth Advisors LLC bought a new position in Ares Commercial Real Estate during the 2nd quarter worth $894,000. Van ECK Associates Corp raised its stake in Ares Commercial Real Estate by 26.9% in the 2nd quarter. Van ECK Associates Corp now owns 524,694 shares of the real estate investment trust's stock worth $3,489,000 after purchasing an additional 111,194 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Ares Commercial Real Estate by 67.8% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 257,235 shares of the real estate investment trust's stock valued at $1,916,000 after purchasing an additional 103,902 shares during the period. Bright Futures Wealth Management LLC. acquired a new position in shares of Ares Commercial Real Estate during the 1st quarter worth approximately $630,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Ares Commercial Real Estate by 11.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 790,404 shares of the real estate investment trust's stock worth $5,889,000 after purchasing an additional 81,534 shares during the period. Institutional investors and hedge funds own 41.34% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ACRE shares. StockNews.com cut Ares Commercial Real Estate from a "hold" rating to a "sell" rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. reduced 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. Wells Fargo & Company downgraded Ares Commercial Real Estate from an "equal weight" rating to an "underweight" rating and dropped their price target for the company from $7.50 to $7.00 in a research note on Friday, September 20th. Finally, BTIG Research reaffirmed a "neutral" rating on shares of Ares Commercial Real Estate in a research report on Friday, July 19th. Three analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat, Ares Commercial Real Estate has an average rating of "Hold" and an average target price of $7.10.

Ares Commercial Real Estate Price Performance

Shares of ACRE stock traded down $0.14 on Friday, hitting $6.45. 275,220 shares of the company's stock were exchanged, compared to its average volume of 580,006. Ares Commercial Real Estate Co. has a 12 month low of $6.36 and a 12 month high of $11.24. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.87 and a quick ratio of 0.87. The company has a 50 day moving average of $6.97 and a 200 day moving average of $6.98. The stock has a market cap of $351.57 million, a P/E ratio of -7.77 and a beta of 1.45.

Ares Commercial Real Estate Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.25 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 15.50%. Ares Commercial Real Estate's payout ratio is currently -120.48%.

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.