Van ECK Associates Corp Increases Stake in Ares Commercial Real Estate Co. (NYSE:ACRE)

Van ECK Associates Corp raised its holdings in shares of Ares Commercial Real Estate Co. (NYSE:ACRE - Free Report) by 19.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 591,036 shares of the real estate investment trust's stock after buying an additional 96,551 shares during the period. Van ECK Associates Corp owned about 1.08% of Ares Commercial Real Estate worth $3,481,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its holdings in shares of Ares Commercial Real Estate by 17.1% during the third quarter. BNP Paribas Financial Markets now owns 11,733 shares of the real estate investment trust's stock worth $82,000 after purchasing an additional 1,711 shares during the period. Victory Capital Management Inc. increased its holdings in Ares Commercial Real Estate by 4.3% in the 3rd quarter. Victory Capital Management Inc. now owns 88,093 shares of the real estate investment trust's stock valued at $617,000 after acquiring an additional 3,593 shares during the last quarter. FMR LLC increased its holdings in 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. Nisa Investment Advisors LLC increased its holdings in shares of Ares Commercial Real Estate by 19.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 37,339 shares of the real estate investment trust's stock worth $229,000 after buying an additional 6,072 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Ares Commercial Real Estate by 1.0% in 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 buying an additional 8,900 shares during the last quarter. 41.34% of the stock is currently owned by hedge funds and other institutional investors.

Ares Commercial Real Estate Stock Performance

Shares of NYSE:ACRE traded down $0.09 during midday trading on Friday, reaching $4.91. The company's stock had a trading volume of 471,292 shares, compared to its average volume of 653,755. The stock has a fifty day moving average of $5.85 and a 200 day moving average of $6.56. Ares Commercial Real Estate Co. has a twelve month low of $4.88 and a twelve month high of $8.03. The firm has a market capitalization of $269.09 million, a PE ratio of -7.55 and a beta of 1.50. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.17.

Ares Commercial Real Estate Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 12.23%. The ex-dividend date is Monday, March 31st. Ares Commercial Real Estate's dividend payout ratio (DPR) is presently -153.84%.

Insiders Place Their Bets

In other Ares Commercial Real Estate news, VP Anton Feingold sold 7,615 shares of Ares Commercial Real Estate stock in a transaction dated Friday, January 31st. The shares were 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 $445,084.80. The trade was a 8.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ACRE has been the topic of a number of research reports. Keefe, Bruyette & Woods reduced their target price on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a "market perform" rating on the stock in a report on Thursday, February 13th. 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. JPMorgan Chase & Co. cut their price target on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Finally, JMP Securities restated a "market perform" rating on shares of Ares Commercial Real Estate in a research note on Thursday, February 13th. Two analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, Ares Commercial Real Estate currently has an average rating of "Hold" and a consensus price target of $6.60.

Ares Commercial Real Estate Company 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.