Ares Commercial Real Estate Co. (NYSE:ACRE) Short Interest Up 10.8% in July

Ares Commercial Real Estate Co. (NYSE:ACRE – Get Rating) was the target of a large increase in short interest in July. As of July 31st, there was short interest totaling 1,440,000 shares, an increase of 10.8% from the July 15th total of 1,300,000 shares. Based on an average trading volume of 837,100 shares, the short-interest ratio is currently 1.7 days. Approximately 5.6% of the company’s stock are sold short.

Analyst’s Set New Price Targets

ACRE has been the subject of a number of research analyst reports. Credit Suisse Group decreased their price target on Ares Commercial Real Estate to $14.50 in a research report on Friday, July 22nd. JMP Securities lowered their target price on Ares Commercial Real Estate from $16.50 to $15.00 and set a “market outperform” rating on the stock in a research note on Monday, August 1st. Finally, JPMorgan Chase & Co. increased their price target on shares of Ares Commercial Real Estate from $14.50 to $16.00 and gave the company a “neutral” rating in a research report on Monday, April 25th.

Institutional Investors Weigh In On Ares Commercial Real Estate

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp grew its stake in Ares Commercial Real Estate by 4.1% in the 2nd quarter. State Street Corp now owns 1,167,240 shares of the real estate investment trust’s stock valued at $14,677,000 after buying an additional 46,082 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in Ares Commercial Real Estate by 32.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 94,862 shares of the real estate investment trust’s stock worth $1,160,000 after purchasing an additional 23,222 shares in the last quarter. Millennium Management LLC bought a new position in Ares Commercial Real Estate in the 2nd quarter worth about $8,022,000. Clearstead Advisors LLC purchased a new position in Ares Commercial Real Estate during the 2nd quarter valued at about $385,000. Finally, UBS Asset Management Americas Inc. increased its position in shares of Ares Commercial Real Estate by 20.3% during the second quarter. UBS Asset Management Americas Inc. now owns 37,434 shares of the real estate investment trust’s stock valued at $458,000 after buying an additional 6,314 shares during the period. 46.66% of the stock is currently owned by institutional investors.

Ares Commercial Real Estate Stock Performance

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NYSE ACRE traded up $0.08 on Tuesday, hitting $13.92. 2,018 shares of the stock traded hands, compared to its average volume of 549,468. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.61 and a current ratio of 0.61. The business’s fifty day moving average is $12.89 and its two-hundred day moving average is $14.25. Ares Commercial Real Estate has a 12 month low of $11.18 and a 12 month high of $16.48. The firm has a market capitalization of $757.80 million, a price-to-earnings ratio of 12.47 and a beta of 1.24.

Ares Commercial Real Estate Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.33 per share. The ex-dividend date is Thursday, September 29th. This represents a $1.32 annualized dividend and a dividend yield of 9.48%. Ares Commercial Real Estate’s payout ratio is 118.92%.

Ares Commercial Real Estate Company Profile

(Get Rating)

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. The company provides a range of financing solutions for the owners, operators, and sponsors of CRE properties. It originates senior mortgage loans, subordinate debt products, mezzanine loans, real estate preferred equity investments, and other CRE investments, including commercial mortgage backed securities.

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