Zurcher Kantonalbank Zurich Cantonalbank Decreases Stock Holdings in Ares Commercial Real Estate Co. (NYSE:ACRE)

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in Ares Commercial Real Estate Co. (NYSE:ACRE) by 25.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,210 shares of the real estate investment trust’s stock after selling 4,786 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ares Commercial Real Estate were worth $147,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in ACRE. SG Americas Securities LLC purchased a new stake in shares of Ares Commercial Real Estate during the third quarter worth about $230,000. Raymond James & Associates lifted its position in shares of Ares Commercial Real Estate by 9.7% in the third quarter. Raymond James & Associates now owns 40,455 shares of the real estate investment trust’s stock valued at $385,000 after acquiring an additional 3,580 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Ares Commercial Real Estate by 32.4% in the third quarter. Nisa Investment Advisors LLC now owns 51,936 shares of the real estate investment trust’s stock worth $494,000 after acquiring an additional 12,706 shares during the last quarter. MGO One Seven LLC purchased a new stake in shares of Ares Commercial Real Estate during the third quarter worth approximately $200,000. Finally, Jump Financial LLC raised its stake in Ares Commercial Real Estate by 36.4% in the 3rd quarter. Jump Financial LLC now owns 64,846 shares of the real estate investment trust’s stock valued at $617,000 after purchasing an additional 17,291 shares during the last quarter. 41.34% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Bryan Patrick Donohoe acquired 3,509 shares of the firm’s stock in a transaction dated Sunday, March 10th. The shares were purchased at an average cost of $14.32 per share, for a total transaction of $50,248.88. Following the acquisition, the chief executive officer now owns 41,259 shares in the company, valued at approximately $590,828.88. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ACRE has been the topic of several recent research reports. Keefe, Bruyette & Woods lowered their target price on shares of Ares Commercial Real Estate from $8.00 to $7.50 and set a “market perform” rating on the stock in a research note on Wednesday, April 10th. UBS Group cut their price objective on shares of Ares Commercial Real Estate from $10.50 to $8.00 and set a “neutral” rating for the company in a report on Wednesday, March 20th. TheStreet cut Ares Commercial Real Estate from a “c-” rating to a “d+” rating in a report on Tuesday, March 5th. Bank of America reaffirmed an “underperform” rating and issued a $7.00 price target (down previously from $11.00) on shares of Ares Commercial Real Estate in a report on Monday, March 4th. Finally, JPMorgan Chase & Co. dropped their target price on Ares Commercial Real Estate from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $8.50.

Ares Commercial Real Estate Price Performance

NYSE:ACRE opened at $6.90 on Thursday. The company has a market capitalization of $375.25 million, a P/E ratio of -9.58 and a beta of 1.42. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 2.42. Ares Commercial Real Estate Co. has a 52 week low of $6.36 and a 52 week high of $11.24. The stock’s fifty day moving average is $7.20 and its two-hundred day moving average is $8.83.

Ares Commercial Real Estate Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Thursday, March 28th were given a $0.25 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a yield of 14.50%. Ares Commercial Real Estate’s payout ratio is currently -138.89%.

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.