Ares Commercial Real Estate Co. (NYSE:ACRE) Sees Large Decline in Short Interest

Ares Commercial Real Estate Co. (NYSE:ACRE) was the recipient of a significant drop in short interest in July. As of July 31st, there was short interest totalling 2,140,000 shares, a drop of 12.7% from the July 15th total of 2,450,000 shares. Based on an average daily volume of 551,600 shares, the days-to-cover ratio is currently 3.9 days.

Ares Commercial Real Estate Trading Up 0.6 %

ACRE traded up $0.04 during trading on Friday, hitting $6.84. The company’s stock had a trading volume of 475,986 shares, compared to its average volume of 626,713. The firm has a market capitalization of $372.83 million, a P/E ratio of -8.24 and a beta of 1.46. Ares Commercial Real Estate has a twelve month low of $6.36 and a twelve month high of $11.24. The stock’s fifty day moving average price is $7.13 and its 200-day moving average price is $7.30. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 2.29.

Ares Commercial Real Estate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 14.62%. The ex-dividend date is Monday, September 30th. Ares Commercial Real Estate’s dividend payout ratio is presently -120.48%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. BTIG Research reissued a “neutral” rating on shares of Ares Commercial Real Estate in a report on Friday, July 19th. Keefe, Bruyette & Woods reduced their price objective on shares of Ares Commercial Real Estate from $7.50 to $7.00 and set a “market perform” rating on the stock in a research note on Friday, May 10th. Finally, StockNews.com downgraded Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $7.80.

Institutional Investors Weigh In On Ares Commercial Real Estate

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC acquired a new position in Ares Commercial Real Estate during the 4th quarter worth approximately $29,000. Ameritas Advisory Services LLC bought a new stake in Ares Commercial Real Estate during the second quarter worth $68,000. XTX Topco Ltd purchased a new stake in Ares Commercial Real Estate in the 2nd quarter valued at $82,000. EntryPoint Capital LLC bought a new position in Ares Commercial Real Estate during the 1st quarter valued at $84,000. Finally, Quest Partners LLC grew its holdings in shares of Ares Commercial Real Estate by 1,329,500.0% in the second quarter. Quest Partners LLC now owns 13,296 shares of the real estate investment trust’s stock valued at $88,000 after acquiring an additional 13,295 shares in the last quarter. 41.34% of the stock is owned by institutional investors.

Ares Commercial Real Estate Company 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.