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

Ares Commercial Real Estate Corporation (NYSE:ACRE) was the recipient 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 company are sold short. Based on an average daily trading volume, of 446,658 shares, the days-to-cover ratio is currently 4.9 days.

Insider Activity at Ares Commercial Real Estate

In other Ares Commercial Real Estate news, CEO Bryan Patrick Donohoe sold 21,761 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 transaction of $107,281.73. Following the completion of the transaction, the chief executive officer owned 250,197 shares in the company, valued at approximately $1,233,471.21. The trade was a 8.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Anton Feingold sold 7,606 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 $37,497.58. Following the completion of the transaction, the vice president directly owned 92,754 shares of the company’s stock, valued at approximately $457,277.22. The trade was a 7.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 35,585 shares of company stock worth $175,434 in the last ninety days. 1.80% of the stock is owned by insiders.

Institutional Trading of Ares Commercial Real Estate

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. raised its stake in Ares Commercial Real Estate by 456.0% during the third quarter. Russell Investments Group Ltd. now owns 6,033 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 4,948 shares in the last quarter. Triumph Capital Management acquired a new stake in shares of Ares Commercial Real Estate in the 3rd quarter valued at $38,000. BNP Paribas Financial Markets grew its holdings in shares of Ares Commercial Real Estate by 100.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 10,367 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 5,192 shares during the last quarter. Strs Ohio bought a new stake in shares of Ares Commercial Real Estate in the 1st quarter worth about $47,000. Finally, 180 Wealth Advisors LLC acquired a new stake in shares of Ares Commercial Real Estate during the 4th quarter worth about $49,000. 41.34% of the stock is currently owned by institutional investors and hedge funds.

Ares Commercial Real Estate Trading Down 2.1%

NYSE ACRE traded down $0.10 during trading on Friday, hitting $4.77. 542,810 shares of the company traded hands, compared to its average volume of 443,023. Ares Commercial Real Estate has a 12 month low of $3.35 and a 12 month high of $5.89. The business has a fifty day simple moving average of $5.06 and a 200 day simple moving average of $4.93. The company has a market capitalization of $263.88 million, a P/E ratio of -238.30 and a beta of 1.23.

Ares Commercial Real Estate Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given 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 currently -3,000.00%.

Analyst Ratings Changes

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

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.