Short Interest in Ares Commercial Real Estate Corporation (NYSE:ACRE) Expands By 39.1%

Ares Commercial Real Estate Corporation (NYSE:ACRE) was the target of a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 2,210,747 shares, an increase of 39.1% from the February 26th total of 1,589,689 shares. Currently, 4.1% of the shares of the stock are sold short. Based on an average trading volume of 446,658 shares, the short-interest ratio is currently 4.9 days.

Ares Commercial Real Estate Trading Down 2.1%

Ares Commercial Real Estate stock traded down $0.10 during mid-day trading on Friday, hitting $4.77. The stock had a trading volume of 542,810 shares, compared to its average volume of 443,023. The stock has a 50-day simple moving average of $5.06 and a two-hundred day simple moving average of $4.93. The stock has a market capitalization of $263.88 million, a PE ratio of -238.30 and a beta of 1.23. Ares Commercial Real Estate has a 12 month low of $3.35 and a 12 month high of $5.89.

Ares Commercial Real Estate Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 12.6%. The ex-dividend date of this dividend is Tuesday, March 31st. Ares Commercial Real Estate’s dividend payout ratio (DPR) is -3,000.00%.

Analyst Ratings Changes

A number of equities research analysts have commented on ACRE shares. Zacks Research lowered shares of Ares Commercial Real Estate from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ares Commercial Real Estate in a research note on Monday, December 29th. Keefe, Bruyette & Woods upped their target price on shares of Ares Commercial Real Estate from $5.50 to $6.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 11th. Finally, Wells Fargo & Company raised their price target on shares of Ares Commercial Real Estate from $4.00 to $5.00 and gave the company an “underweight” rating in a report on Thursday, February 12th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Ares Commercial Real Estate has an average rating of “Reduce” and a consensus price target of $5.33.

Insider Activity at Ares Commercial Real Estate

In other Ares Commercial Real Estate news, VP Anton Feingold sold 7,606 shares of the business’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $4.93, for a total value of $37,497.58. Following the transaction, the vice president owned 92,754 shares of the company’s stock, valued at approximately $457,277.22. The trade was a 7.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Bryan Patrick Donohoe sold 21,761 shares of the stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $4.93, for a total value of $107,281.73. Following the sale, the chief executive officer owned 250,197 shares in the company, valued at $1,233,471.21. The trade was a 8.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 35,585 shares of company stock valued at $175,434 in the last three months. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Ares Commercial Real Estate

Institutional investors and hedge funds have recently modified their holdings of the business. Corient Private Wealth LLC acquired a new position in Ares Commercial Real Estate during the fourth quarter valued at approximately $64,000. Alpine Global Management LLC raised its holdings in Ares Commercial Real Estate by 27.8% in the fourth quarter. Alpine Global Management LLC now owns 759,110 shares of the real estate investment trust’s stock worth $3,629,000 after purchasing an additional 165,193 shares during the period. XTX Topco Ltd bought a new position in shares of Ares Commercial Real Estate during the fourth quarter worth $157,000. Quadrature Capital Ltd bought a new position in shares of Ares Commercial Real Estate during the fourth quarter worth $67,000. Finally, AQR Capital Management LLC grew its holdings in shares of Ares Commercial Real Estate by 25.0% in the 4th quarter. AQR Capital Management LLC now owns 159,968 shares of the real estate investment trust’s stock valued at $765,000 after buying an additional 31,996 shares during the period. 41.34% of the stock is owned by institutional investors.

About Ares Commercial Real Estate

Ares Commercial Real Estate Corporation (NYSE: ACRE) is a publicly traded real estate investment trust (REIT) primarily focused on commercial real estate debt investments. Externally managed by an affiliate of Ares Management Corporation, ACRE seeks to generate attractive risk-adjusted returns through its diversified portfolio of CRE financing strategies. The company specializes in originating, acquiring, financing and managing first mortgages, mezzanine loans, preferred equity and other structured finance products.

Since its inception, Ares Commercial Real Estate has targeted a broad range of property types, including multifamily, office, industrial, retail and hospitality assets.