Bright Futures Wealth Management LLC. Purchases 4,369 Shares of Ares Commercial Real Estate Co. (NYSE:ACRE)

Bright Futures Wealth Management LLC. boosted its stake in Ares Commercial Real Estate Co. (NYSE:ACRE) by 4.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 96,364 shares of the real estate investment trust’s stock after purchasing an additional 4,369 shares during the quarter. Bright Futures Wealth Management LLC. owned approximately 0.18% of Ares Commercial Real Estate worth $543,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. FMR LLC boosted its stake 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 worth $54,000 after purchasing an additional 5,252 shares during the period. BNP Paribas Financial Markets boosted its stake in Ares Commercial Real Estate by 17.1% in the 3rd 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. Intech Investment Management LLC bought a new position in Ares Commercial Real Estate in the 3rd quarter worth about $96,000. AQR Capital Management LLC bought a new position in Ares Commercial Real Estate in the 2nd quarter worth about $122,000. Finally, SG Americas Securities LLC bought a new position in Ares Commercial Real Estate in the 3rd quarter worth about $147,000. Institutional investors own 41.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ACRE shares. StockNews.com upgraded Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research note on Tuesday, December 17th. JPMorgan Chase & Co. dropped their price target on Ares Commercial Real Estate from $6.00 to $5.50 and set a “neutral” rating for the company in a research report on Thursday. JMP Securities reiterated a “market perform” rating on shares of Ares Commercial Real Estate in a research report on Thursday. Finally, Keefe, Bruyette & Woods dropped their price target on Ares Commercial Real Estate from $6.00 to $5.50 and set a “market perform” rating for the company in a research report on Thursday. Two research 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 has an average rating of “Hold” and a consensus target price of $6.60.

Ares Commercial Real Estate Stock Performance

Shares of NYSE ACRE opened at $5.08 on Friday. The stock has a market cap of $276.80 million, a price-to-earnings ratio of -4.30 and a beta of 1.50. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.38. Ares Commercial Real Estate Co. has a 1-year low of $5.01 and a 1-year high of $8.59. The stock’s 50-day moving average is $6.06 and its 200 day moving average is $6.65.

Ares Commercial Real Estate Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 11.82%. Ares Commercial Real Estate’s dividend payout ratio is -92.31%.

Insider Activity at Ares Commercial Real Estate

In related news, VP Anton Feingold sold 7,615 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was 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 approximately $445,084.80. This trade represents a 8.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.80% of the stock is currently owned by insiders.

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.