February 28, 2024

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Ares Commercial Real Estate Co. (NYSE:ACREGet Rating) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totalling 1,660,000 shares, a growth of 10.7% from the August 31st 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 stock are sold short.

Analysts Set New Price Targets

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

Ares Commercial Real Estate Stock Up 0.8 %

Shares of NYSE:ACRE traded up $0.08 during midday trading on Monday, reaching $10.53. 32,002 shares of the company were exchanged, compared to its 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-to-equity 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 firm has a market cap of $573.23 million, a PE ratio of 9.41 and a beta of 1.32.

Ares Commercial Real Estate Cuts Dividend

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

Institutional Inflows and Outflows

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

About Ares Commercial Real Estate

(Get 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 provides a range of financing solutions for the owners, operators, and sponsors of CRE properties. It originates senior mortgage loans, subordinate debt products, mezzanine loans, real estate preferred equity investments, and other CRE investments, including commercial mortgage backed securities.

Further Reading

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