Joel Isaacson & Co. LLC Reduces Stock Position in Ares Commercial Real Estate Co. (NYSE:ACRE)

Joel Isaacson & Co. LLC cut its stake in Ares Commercial Real Estate Co. (NYSE:ACRE) by 79.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,847 shares of the real estate investment trust’s stock after selling 81,597 shares during the quarter. Joel Isaacson & Co. LLC’s holdings in Ares Commercial Real Estate were worth $146,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Inspire Investing LLC grew its stake in shares of Ares Commercial Real Estate by 8.8% in the third quarter. Inspire Investing LLC now owns 58,181 shares of the real estate investment trust’s stock worth $407,000 after acquiring an additional 4,714 shares during the period. Strategic Wealth Partners Ltd. grew its stake in shares of Ares Commercial Real Estate by 11.1% in the third quarter. Strategic Wealth Partners Ltd. now owns 20,000 shares of the real estate investment trust’s stock worth $140,000 after acquiring an additional 2,000 shares during the period. SG Americas Securities LLC bought a new stake in shares of Ares Commercial Real Estate in the third quarter worth approximately $147,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Ares Commercial Real Estate by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 41,492 shares of the real estate investment trust’s stock worth $276,000 after buying an additional 2,769 shares during the last quarter. Finally, AQR Capital Management LLC purchased a new position in shares of Ares Commercial Real Estate in the second quarter worth approximately $122,000. 41.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ACRE has been the topic of a number of research reports. StockNews.com downgraded shares of Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a report on Thursday, August 15th. BTIG Research reissued a “neutral” rating on shares of Ares Commercial Real Estate in a report on Friday, July 19th. JPMorgan Chase & Co. dropped their price objective on shares of 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. Finally, Wells Fargo & Company downgraded shares of Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $7.50 to $7.00 in a report on Friday, September 20th. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $7.10.

Ares Commercial Real Estate Price Performance

ACRE stock opened at $6.45 on Friday. The company’s fifty day moving average price is $6.97 and its 200-day moving average price is $6.98. Ares Commercial Real Estate Co. has a one year low of $6.36 and a one year high of $11.24. The company has a market capitalization of $351.57 million, a PE ratio of -7.77 and a beta of 1.45. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.87 and a current ratio of 0.87.

Ares Commercial Real Estate Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 15.50%. The ex-dividend date of this dividend was Monday, September 30th. Ares Commercial Real Estate’s dividend payout ratio is presently -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.