Knightsbridge Asset Management LLC Trims Stock Holdings in Ares Commercial Real Estate Corporation $ACRE

Knightsbridge Asset Management LLC reduced its stake in Ares Commercial Real Estate Corporation (NYSE:ACRE) by 9.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 77,567 shares of the real estate investment trust’s stock after selling 8,555 shares during the period. Knightsbridge Asset Management LLC owned approximately 0.14% of Ares Commercial Real Estate worth $359,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in shares of Ares Commercial Real Estate by 4.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 73,116 shares of the real estate investment trust’s stock worth $431,000 after buying an additional 2,982 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Ares Commercial Real Estate by 2.7% during the first quarter. Victory Capital Management Inc. now owns 124,250 shares of the real estate investment trust’s stock worth $575,000 after purchasing an additional 3,250 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Ares Commercial Real Estate by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 15,045 shares of the real estate investment trust’s stock worth $89,000 after purchasing an additional 4,950 shares during the last quarter. Private Advisor Group LLC raised its position in Ares Commercial Real Estate by 18.0% in the first quarter. Private Advisor Group LLC now owns 34,472 shares of the real estate investment trust’s stock worth $160,000 after acquiring an additional 5,267 shares in the last quarter. Finally, Arlington Trust Co LLC purchased a new position in Ares Commercial Real Estate in the first quarter worth $28,000. 41.34% of the stock is owned by institutional investors and hedge funds.

Ares Commercial Real Estate Stock Up 2.1%

Shares of Ares Commercial Real Estate stock opened at $5.13 on Friday. Ares Commercial Real Estate Corporation has a 12-month low of $3.35 and a 12-month high of $7.83. The firm has a market capitalization of $281.93 million, a PE ratio of -15.07 and a beta of 1.32. The stock’s fifty day moving average is $4.61 and its 200-day moving average is $4.56.

Ares Commercial Real Estate Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.15 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.60 annualized dividend and a yield of 11.7%. Ares Commercial Real Estate’s dividend payout ratio is presently -176.47%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Zacks Research raised Ares Commercial Real Estate to a “hold” rating in a report on Monday, August 11th. Keefe, Bruyette & Woods reduced their target price on Ares Commercial Real Estate from $4.80 to $4.25 and set a “market perform” rating on the stock in a research report on Wednesday, August 6th. UBS Group cut their price objective on Ares Commercial Real Estate from $5.00 to $4.50 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Finally, Wall Street Zen downgraded Ares Commercial Real Estate from a “hold” rating to a “strong sell” rating in a report on Saturday, August 9th. Five research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $5.31.

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.