Ares Commercial Real Estate Co. (NYSE:ACRE) CFO Jeffrey Michael Gonzales Sells 4,020 Shares

Ares Commercial Real Estate Co. (NYSE:ACRE) CFO Jeffrey Michael Gonzales sold 4,020 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $5.68, for a total value of $22,833.60. Following the sale, the chief financial officer now directly owns 50,751 shares in the company, valued at approximately $288,265.68. The trade was a 7.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Ares Commercial Real Estate Price Performance

NYSE ACRE opened at $5.86 on Wednesday. The stock has a 50-day simple moving average of $6.25 and a 200 day simple moving average of $6.73. Ares Commercial Real Estate Co. has a twelve month low of $5.33 and a twelve month high of $9.24. The stock has a market capitalization of $319.33 million, a PE ratio of -4.96 and a beta of 1.50. The company has a debt-to-equity ratio of 2.38, 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 Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 17.08%. Ares Commercial Real Estate’s dividend payout ratio (DPR) is presently -84.75%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their target price on Ares Commercial Real Estate from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. Keefe, Bruyette & Woods reduced their price objective on shares of Ares Commercial Real Estate from $7.00 to $6.00 and set a “market perform” rating for the company in a research report on Tuesday, January 14th. StockNews.com upgraded shares of Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, JMP Securities restated a “market perform” rating on shares of Ares Commercial Real Estate in a report on Monday, December 9th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.80.

Institutional Investors Weigh In On Ares Commercial Real Estate

Several hedge funds have recently modified their holdings of ACRE. Geode Capital Management LLC grew its position in Ares Commercial Real Estate by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,272,163 shares of the real estate investment trust’s stock worth $8,907,000 after buying an additional 16,309 shares in the last quarter. State Street Corp lifted its position in shares of Ares Commercial Real Estate by 2.3% in the 3rd quarter. State Street Corp now owns 1,052,314 shares of the real estate investment trust’s stock worth $7,627,000 after acquiring an additional 23,845 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Ares Commercial Real Estate by 1.0% during 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 purchasing an additional 8,900 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Ares Commercial Real Estate by 19.5% during the 4th quarter. Van ECK Associates Corp now owns 591,036 shares of the real estate investment trust’s stock worth $3,481,000 after purchasing an additional 96,551 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Ares Commercial Real Estate by 187.3% during the third quarter. JPMorgan Chase & Co. now owns 415,332 shares of the real estate investment trust’s stock valued at $2,907,000 after purchasing an additional 270,791 shares during the period. 41.34% of the stock is owned by institutional investors.

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.