Ares Commercial Real Estate Co. (NYSE:ACRE) Short Interest Down 8.6% in November

Ares Commercial Real Estate Co. (NYSE:ACRE - Get Free Report) was the target of a large decrease in short interest in November. As of November 30th, there was short interest totalling 1,490,000 shares, a decrease of 8.6% from the November 15th total of 1,630,000 shares. Based on an average daily volume of 441,100 shares, the short-interest ratio is presently 3.4 days.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ACRE. Wells Fargo & Company cut shares of Ares Commercial Real Estate from an "equal weight" rating to an "underweight" rating and decreased their target price for the company from $7.50 to $7.00 in a research note on Friday, September 20th. JMP Securities reaffirmed a "market perform" rating on shares of Ares Commercial Real Estate in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Ares Commercial Real Estate from $7.00 to $6.50 and set a "neutral" rating on the stock in a research note on Thursday, October 17th. Three analysts have rated the stock with a sell rating and five have issued a hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $7.10.

Hedge Funds Weigh In On Ares Commercial Real Estate

Several hedge funds and other institutional investors have recently made changes to their positions in ACRE. Prevail Innovative Wealth Advisors LLC acquired a new position in Ares Commercial Real Estate during the second quarter worth about $894,000. Victory Capital Management Inc. boosted its holdings in shares of Ares Commercial Real Estate by 4.3% during the 3rd quarter. Victory Capital Management Inc. now owns 88,093 shares of the real estate investment trust's stock worth $617,000 after purchasing an additional 3,593 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Ares Commercial Real Estate by 26.9% during 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 during the last quarter. Evergreen Capital Management LLC purchased a new stake in shares of Ares Commercial Real Estate in the second quarter valued at approximately $151,000. Finally, Inspire Investing LLC increased its holdings in shares of Ares Commercial Real Estate by 10.1% in the second quarter. Inspire Investing LLC now owns 53,467 shares of the real estate investment trust's stock valued at $356,000 after purchasing an additional 4,926 shares during the last quarter. Hedge funds and other institutional investors own 41.34% of the company's stock.

Ares Commercial Real Estate Price Performance

Shares of NYSE ACRE traded down $0.35 during trading on Monday, hitting $6.84. The company had a trading volume of 1,301,233 shares, compared to its average volume of 560,027. Ares Commercial Real Estate has a fifty-two week low of $6.25 and a fifty-two week high of $11.24. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.38. The stock has a fifty day simple moving average of $6.85 and a two-hundred day simple moving average of $7.03. The firm has a market capitalization of $373.07 million, a price-to-earnings ratio of -5.80 and a beta of 1.48.

Ares Commercial Real Estate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.62%. Ares Commercial Real Estate's payout ratio is currently -84.75%.

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.