Intech Investment Management LLC Buys 2,943 Shares of Ares Commercial Real Estate Co. (NYSE:ACRE)

Intech Investment Management LLC raised its position in shares of Ares Commercial Real Estate Co. (NYSE:ACRE) by 21.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,635 shares of the real estate investment trust’s stock after acquiring an additional 2,943 shares during the period. Intech Investment Management LLC’s holdings in Ares Commercial Real Estate were worth $98,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of Ares Commercial Real Estate by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,272,163 shares of the real estate investment trust’s stock worth $8,907,000 after buying an additional 16,309 shares during the period. State Street Corp raised its holdings in shares of Ares Commercial Real Estate by 2.3% in the 3rd quarter. State Street Corp now owns 1,052,314 shares of the real estate investment trust’s stock valued at $7,627,000 after purchasing an additional 23,845 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in Ares Commercial Real Estate by 1.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 861,390 shares of the real estate investment trust’s stock worth $6,030,000 after buying an additional 8,900 shares during the period. Van ECK Associates Corp lifted its stake in shares of 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 purchasing an additional 96,551 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position 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 valued at $2,907,000 after buying an additional 270,791 shares during the last quarter. Institutional investors own 41.34% of the company’s stock.

Analysts Set New Price Targets

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

Ares Commercial Real Estate Stock Performance

Shares of NYSE ACRE opened at $4.79 on Friday. The company has a market capitalization of $262.49 million, a PE ratio of -7.36 and a beta of 1.57. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.87 and a current ratio of 0.87. The company’s fifty day moving average price is $5.23 and its 200 day moving average price is $6.20. Ares Commercial Real Estate Co. has a 1 year low of $4.61 and a 1 year high of $7.99.

Ares Commercial Real Estate Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.15 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.60 dividend on an annualized basis and a yield of 12.54%. Ares Commercial Real Estate’s payout ratio is -92.31%.

Insiders Place Their Bets

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

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.