Cerity Partners LLC Acquires New Shares in Ares Commercial Real Estate Co. (NYSE:ACRE)

Cerity Partners LLC bought a new position in Ares Commercial Real Estate Co. (NYSE:ACRE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 20,224 shares of the real estate investment trust’s stock, valued at approximately $210,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Jaffetilchin Investment Partners LLC lifted its position in Ares Commercial Real Estate by 15.4% in the 3rd quarter. Jaffetilchin Investment Partners LLC now owns 16,903 shares of the real estate investment trust’s stock valued at $161,000 after purchasing an additional 2,259 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Ares Commercial Real Estate by 47.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,996 shares of the real estate investment trust’s stock valued at $181,000 after acquiring an additional 6,116 shares during the period. MGO One Seven LLC bought a new stake in shares of Ares Commercial Real Estate in the 3rd quarter worth $200,000. Clearstead Advisors LLC raised its position in Ares Commercial Real Estate by 9.7% in the third quarter. Clearstead Advisors LLC now owns 21,260 shares of the real estate investment trust’s stock worth $202,000 after acquiring an additional 1,876 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Ares Commercial Real Estate in the 3rd quarter valued at about $230,000. 41.34% of the stock is currently owned by institutional investors.

Ares Commercial Real Estate Stock Performance

Shares of ACRE stock opened at $7.01 on Tuesday. The stock’s fifty day simple moving average is $7.30 and its 200-day simple moving average is $8.95. The company has a market capitalization of $381.21 million, a price-to-earnings ratio of -9.73 and a beta of 1.41. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 2.42. Ares Commercial Real Estate Co. has a 1-year low of $6.36 and a 1-year high of $11.24.

Ares Commercial Real Estate Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.00 annualized dividend and a yield of 14.28%. Ares Commercial Real Estate’s dividend payout ratio (DPR) is presently -138.89%.

Insider Activity

In related news, CEO Bryan Patrick Donohoe purchased 3,509 shares of the firm’s stock in a transaction that occurred on Sunday, March 10th. The stock was acquired at an average cost of $14.32 per share, for a total transaction of $50,248.88. Following the completion of the acquisition, the chief executive officer now owns 41,259 shares in the company, valued at approximately $590,828.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. TheStreet downgraded shares of Ares Commercial Real Estate from a “c-” rating to a “d+” rating in a report on Tuesday, March 5th. UBS Group cut their price objective on Ares Commercial Real Estate from $10.50 to $8.00 and set a “neutral” rating for the company in a research report on Wednesday, March 20th. Keefe, Bruyette & Woods reduced their target price on Ares Commercial Real Estate from $8.00 to $7.50 and set a “market perform” rating for the company in a report on Wednesday, April 10th. JPMorgan Chase & Co. decreased their price target on Ares Commercial Real Estate from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, April 10th. Finally, Bank of America restated an “underperform” rating and set a $7.00 price objective (down previously from $11.00) on shares of Ares Commercial Real Estate in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $8.79.

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.