Summit Securities Group LLC Has $39,000 Stock Position in Ares Commercial Real Estate Co. (NYSE:ACRE)

Summit Securities Group LLC grew its position in shares of Ares Commercial Real Estate Co. (NYSE:ACRE) by 139.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,700 shares of the real estate investment trust’s stock after buying an additional 3,905 shares during the quarter. Summit Securities Group LLC’s holdings in Ares Commercial Real Estate were worth $39,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ACRE. JPMorgan Chase & Co. grew its holdings 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 worth $2,907,000 after purchasing an additional 270,791 shares during the last quarter. Van ECK Associates Corp lifted its position in 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 buying an additional 96,551 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Ares Commercial Real Estate during the 4th quarter worth about $430,000. Commonwealth Equity Services LLC increased its position in Ares Commercial Real Estate by 421.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 73,551 shares of the real estate investment trust’s stock valued at $433,000 after acquiring an additional 59,445 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of Ares Commercial Real Estate by 279.8% in the third quarter. Barclays PLC now owns 69,821 shares of the real estate investment trust’s stock worth $489,000 after acquiring an additional 51,435 shares during the last quarter. 41.34% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Ares Commercial Real Estate

In related news, VP Anton Feingold sold 7,615 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $5.68, for a total value of $43,253.20. Following the sale, the vice president now directly owns 78,360 shares in the company, valued at $445,084.80. This trade represents a 8.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.80% of the company’s stock.

Ares Commercial Real Estate Stock Performance

ACRE stock opened at $4.70 on Monday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.17. Ares Commercial Real Estate Co. has a twelve month low of $4.61 and a twelve month high of $7.99. The business’s fifty day moving average is $5.20 and its 200-day moving average is $6.17. The company has a market cap of $257.55 million, a P/E ratio of -7.22 and a beta of 1.57.

Ares Commercial Real Estate Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 12.78%. The ex-dividend date of this dividend is Monday, March 31st. Ares Commercial Real Estate’s dividend payout ratio (DPR) is currently -92.31%.

Wall Street Analyst Weigh In

Several analysts have recently commented on ACRE shares. UBS Group decreased their price target on shares of Ares Commercial Real Estate from $6.00 to $5.25 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. JMP Securities reissued a “market perform” rating on shares of Ares Commercial Real Estate in a research note on Thursday, February 13th. JPMorgan Chase & Co. cut their price target on Ares Commercial Real Estate from $6.00 to $5.50 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Keefe, Bruyette & Woods lowered their price objective 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, February 13th. Finally, StockNews.com upgraded shares of Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $5.81.

Ares Commercial Real Estate Profile

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.