Ares Commercial Real Estate Co. (NYSE:ACRE) Short Interest Down 9.2% in January

Ares Commercial Real Estate Co. (NYSE:ACRE) was the recipient of a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 1,480,000 shares, a drop of 9.2% from the January 15th total of 1,630,000 shares. Based on an average daily volume of 591,000 shares, the days-to-cover ratio is currently 2.5 days.

Insider Buying and Selling

In other news, VP Anton Feingold sold 7,615 shares of the business’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 completion of the transaction, the vice president now directly owns 78,360 shares in the company, valued at approximately $445,084.80. The trade was a 8.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. McIlrath & Eck LLC acquired a new position in Ares Commercial Real Estate in the 4th quarter valued at $54,000. Two Sigma Advisers LP grew its holdings in shares of Ares Commercial Real Estate by 220.8% during the 4th quarter. Two Sigma Advisers LP now owns 85,000 shares of the real estate investment trust’s stock worth $501,000 after purchasing an additional 58,500 shares in the last quarter. Two Sigma Investments LP grew its holdings in shares of Ares Commercial Real Estate by 125.8% during the 4th quarter. Two Sigma Investments LP now owns 234,054 shares of the real estate investment trust’s stock worth $1,379,000 after purchasing an additional 130,388 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Ares Commercial Real Estate by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 15,045 shares of the real estate investment trust’s stock worth $89,000 after purchasing an additional 4,950 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Ares Commercial Real Estate by 505.7% during the 4th quarter. Millennium Management LLC now owns 316,969 shares of the real estate investment trust’s stock worth $1,867,000 after purchasing an additional 264,641 shares in the last quarter. 41.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ACRE shares. StockNews.com upgraded Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research report on Tuesday, December 17th. JMP Securities reiterated a “market perform” rating on shares of Ares Commercial Real Estate in a report on Thursday, February 13th. Keefe, Bruyette & Woods cut their price objective on Ares Commercial Real Estate from $6.00 to $5.50 and set a “market perform” rating on the stock in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. cut their price objective on Ares Commercial Real Estate from $6.00 to $5.50 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $6.60.

Ares Commercial Real Estate Stock Down 0.5 %

ACRE stock opened at $5.06 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.38. The firm has a market capitalization of $275.70 million, a PE ratio of -4.28 and a beta of 1.50. Ares Commercial Real Estate has a 1-year low of $5.01 and a 1-year high of $8.59. The business’s 50 day simple moving average is $5.97 and its 200 day simple moving average is $6.60.

Ares Commercial Real Estate Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 11.87%. The ex-dividend date of this dividend is Monday, March 31st. Ares Commercial Real Estate’s dividend payout ratio is -84.75%.

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.