Ares Commercial Real Estate Co. (NYSE:ACRE) Shares Sold by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. reduced its stake in shares of Ares Commercial Real Estate Co. (NYSE:ACRE) by 0.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 968,156 shares of the real estate investment trust’s stock after selling 4,707 shares during the period. Balyasny Asset Management L.P. owned 1.78% of Ares Commercial Real Estate worth $5,702,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ACRE. Summit Securities Group LLC lifted its position in shares of Ares Commercial Real Estate by 139.7% in the fourth quarter. Summit Securities Group LLC now owns 6,700 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 3,905 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new stake in shares of Ares Commercial Real Estate during the 4th quarter worth about $69,000. New York State Common Retirement Fund grew its holdings in shares of Ares Commercial Real Estate by 160.9% during the fourth quarter. New York State Common Retirement Fund now owns 11,838 shares of the real estate investment trust’s stock worth $70,000 after buying an additional 7,300 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Ares Commercial Real Estate by 472.0% in the fourth quarter. Farther Finance Advisors LLC now owns 14,301 shares of the real estate investment trust’s stock valued at $84,000 after buying an additional 11,801 shares during the last quarter. Finally, Morey & Quinn Wealth Partners LLC purchased a new position in shares of Ares Commercial Real Estate during the fourth quarter valued at approximately $92,000. Institutional investors and hedge funds own 41.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ACRE shares. Keefe, Bruyette & Woods cut their price target on Ares Commercial Real Estate from $5.50 to $4.50 and set a “market perform” rating for the company in a report on Monday, April 7th. JMP Securities reiterated a “market perform” rating on shares of Ares Commercial Real Estate in a research report on Monday, April 21st. UBS Group dropped their price objective on shares of Ares Commercial Real Estate from $5.25 to $3.75 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $5.19.

Ares Commercial Real Estate Trading Up 0.8 %

Shares of ACRE stock opened at $4.86 on Friday. 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 fifty-two week low of $3.35 and a fifty-two week high of $7.99. The firm’s 50 day moving average price is $4.29 and its two-hundred day moving average price is $5.52. The stock has a market cap of $266.61 million, a price-to-earnings ratio of -7.48 and a beta of 1.27.

Ares Commercial Real Estate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.60 annualized dividend and a yield of 12.35%. Ares Commercial Real Estate’s dividend payout ratio is currently -92.31%.

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.