Ares Commercial Real Estate Co. (NYSE:ACRE) Shares Acquired by Penserra Capital Management LLC

Penserra Capital Management LLC lifted its holdings in Ares Commercial Real Estate Co. (NYSE:ACRE) by 23.0% during the third quarter, Holdings Channel reports. The fund owned 149,365 shares of the real estate investment trust’s stock after buying an additional 27,900 shares during the quarter. Penserra Capital Management LLC’s holdings in Ares Commercial Real Estate were worth $1,045,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Ares Commercial Real Estate by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 2,783,379 shares of the real estate investment trust’s stock worth $20,736,000 after purchasing an additional 34,611 shares during the period. Price T Rowe Associates Inc. MD raised its position in Ares Commercial Real Estate by 4.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 51,234 shares of the real estate investment trust’s stock valued at $382,000 after acquiring an additional 1,949 shares in the last quarter. Strategic Wealth Partners Ltd. acquired a new position in Ares Commercial Real Estate in the first quarter valued at approximately $134,000. Virtu Financial LLC purchased a new stake in Ares Commercial Real Estate in the 1st quarter worth approximately $108,000. Finally, Bright Futures Wealth Management LLC. acquired a new stake in shares of Ares Commercial Real Estate during the 1st quarter worth approximately $630,000. Hedge funds and other institutional investors own 41.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ACRE shares. Wells Fargo & Company cut shares of Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $7.50 to $7.00 in a research note on Friday, September 20th. JPMorgan Chase & Co. lowered their target price on shares of Ares Commercial Real Estate from $7.00 to $6.50 and set a “neutral” rating on the stock in a research note on Thursday, October 17th. Finally, StockNews.com cut Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $7.10.

Ares Commercial Real Estate Stock Performance

ACRE opened at $7.22 on Wednesday. The company has a market cap of $393.79 million, a price-to-earnings ratio of -6.12 and a beta of 1.46. The firm’s fifty day simple moving average is $6.87 and its two-hundred day simple moving average is $6.99. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.38. Ares Commercial Real Estate Co. has a 52-week low of $6.25 and a 52-week high of $11.24.

Ares Commercial Real Estate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 13.85%. The ex-dividend date is Tuesday, December 31st. Ares Commercial Real Estate’s payout ratio is -84.75%.

Ares Commercial Real Estate 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.