Ares Commercial Real Estate (NYSE:ACRE) Trading Down 5% on Insider Selling

Ares Commercial Real Estate Co. (NYSE:ACREGet Free Report)’s stock price traded down 5% on Wednesday following insider selling activity. The stock traded as low as $9.65 and last traded at $9.65. 432,410 shares were traded during trading, a decline of 7% from the average session volume of 466,546 shares. The stock had previously closed at $10.16.

Specifically, CEO Bryan Patrick Donohoe sold 18,868 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $10.32, for a total value of $194,717.76. Following the transaction, the chief executive officer now owns 197,414 shares of the company’s stock, valued at approximately $2,037,312.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Bryan Patrick Donohoe sold 18,868 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $10.32, for a total value of $194,717.76. Following the completion of the sale, the chief executive officer now owns 197,414 shares in the company, valued at approximately $2,037,312.48. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Anton Feingold sold 5,890 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $10.37, for a total transaction of $61,079.30. Following the completion of the sale, the vice president now owns 68,975 shares of the company’s stock, valued at approximately $715,270.75. The disclosure for this sale can be found here. 1.95% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ACRE has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on shares of Ares Commercial Real Estate in a research report on Thursday, October 5th. They issued a “hold” rating for the company. JMP Securities cut shares of Ares Commercial Real Estate from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 5th. Finally, UBS Group assumed coverage on Ares Commercial Real Estate in a report on Wednesday, December 6th. They set a “neutral” rating and a $10.50 target price for the company. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Ares Commercial Real Estate currently has an average rating of “Hold” and an average target price of $10.42.

Check Out Our Latest Analysis on Ares Commercial Real Estate

Ares Commercial Real Estate Stock Performance

The stock has a fifty day simple moving average of $10.30 and a 200-day simple moving average of $10.07. The stock has a market cap of $518.67 million, a P/E ratio of 159.67 and a beta of 1.48. The company has a debt-to-equity ratio of 2.25, a quick ratio of 21.43 and a current ratio of 21.43.

Hedge Funds Weigh In On Ares Commercial Real Estate

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in shares of Ares Commercial Real Estate by 5.6% in the 2nd quarter. BlackRock Inc. now owns 4,702,853 shares of the real estate investment trust’s stock valued at $47,734,000 after acquiring an additional 251,277 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Ares Commercial Real Estate by 6.4% in the 3rd quarter. Vanguard Group Inc. now owns 2,703,902 shares of the real estate investment trust’s stock valued at $28,255,000 after acquiring an additional 162,862 shares in the last quarter. State Street Corp grew its holdings in shares of Ares Commercial Real Estate by 10.1% in the 3rd quarter. State Street Corp now owns 1,285,654 shares of the real estate investment trust’s stock valued at $13,884,000 after acquiring an additional 118,414 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Ares Commercial Real Estate by 62.3% in the 1st quarter. Wellington Management Group LLP now owns 1,145,612 shares of the real estate investment trust’s stock valued at $10,414,000 after acquiring an additional 439,585 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Ares Commercial Real Estate by 2.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,088,317 shares of the real estate investment trust’s stock valued at $11,046,000 after acquiring an additional 30,549 shares in the last quarter. Institutional investors own 38.37% of the company’s stock.

About Ares Commercial Real Estate

(Get Free Report)

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.

Further Reading

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