Short-term stake in Ares Commercial Real Estate Co. (NYSE:ACRE) increases 10.7%

Ares Commercial Real Estate Co. (NYSE: ACRE – Get a rating) benefited from significant growth in short-term interest in September. As of September 15, there was short interest totaling 1,660,000 shares, up 10.7% from the August 31 total of 1,500,000 shares. Based on an average daily volume of 580,400 shares, the short interest ratio is currently 2.9 days. Approximately 6.5% of the company’s shares are sold short.

Analysts set new price targets

ACRE has been the subject of a number of research analyst reports. JMP Securities cut its target price on Ares Commercial Real Estate shares from $16.50 to $15.00 and set a “market outperformance” rating for the company in a Monday, Aug. 1 research report. Credit Suisse Group lowered its price target on Ares Commercial Real Estate shares to $14.50 in a Friday, July 22 research report.

Ares commercial real estate stock up 0.8%

NYSE:ACRE shares traded at $0.08 during midday trading on Monday, hitting $10.53. 32,002 shares of the company were traded, with an average volume of 641,386. Ares Commercial Real Estate has a fifty-two week low of $9.99 and a fifty-two week high of $16.48. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt ratio of 2.39. The stock has a fifty-day simple moving average of $13.06 and a two-hundred-day simple moving average of $13.84. The company has a market capitalization of $573.23 million, a PE ratio of 9.41 and a beta of 1.32.

Ares Commercial Real Estate cuts its dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 17. Shareholders of record on Friday, September 30 will receive a dividend of $0.33. This represents a dividend of $1.32 on an annualized basis and a dividend yield of 12.54%. The ex-date of this dividend is Thursday, September 29. Ares Commercial Real Estate’s dividend payout ratio (DPR) is currently 118.92%.

Institutional entries and exits

Hedge funds and other institutional investors have recently changed their holdings in the company. Samalin Investment Counsel LLC acquired a new position in shares of Ares Commercial Real Estate in the first quarter worth approximately $50,000. Selective Wealth Management Inc. acquired a new position in shares of Ares Commercial Real Estate in the first quarter worth approximately $53,000. Amalgamated Bank acquired a new position in shares of Ares Commercial Real Estate in the first quarter worth approximately $82,000. Ensign Peak Advisors Inc acquired a new position in shares of Ares Commercial Real Estate in the second quarter worth approximately $71,000. Finally, Worth Asset Management LLC acquired a new position in shares of Ares Commercial Real Estate in the first quarter worth approximately $97,000. Institutional investors hold 46.49% of the company’s shares.

About Ares Real Estate Commercial

(Get a 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 offers a range of financing solutions for owners, operators and sponsors of CRE properties. It issues first mortgage loans, subordinated debt products, mezzanine loans, preferred equity investments in real estate and other CRE investments, including commercial mortgage-backed securities.

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