Jane Street Group LLC Boosts Stake in Ares Commercial Real Estate Co. (NYSE:ACRE)

Jane Street Group LLC increased its stake in shares of Ares Commercial Real Estate Co. (NYSE:ACRE) by 267.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 263,571 shares of the real estate investment trust’s stock after purchasing an additional 191,799 shares during the period. Jane Street Group LLC’s holdings in Ares Commercial Real Estate were worth $1,552,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ACRE. Summit Securities Group LLC lifted its holdings in Ares Commercial Real Estate by 139.7% during the 4th quarter. Summit Securities Group LLC now owns 6,700 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 3,905 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new stake in Ares Commercial Real Estate during the 4th quarter worth approximately $69,000. New York State Common Retirement Fund lifted its holdings in Ares Commercial Real Estate by 160.9% during the 4th quarter. New York State Common Retirement Fund now owns 11,838 shares of the real estate investment trust’s stock worth $70,000 after buying an additional 7,300 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Ares Commercial Real Estate by 472.0% during the 4th quarter. Farther Finance Advisors LLC now owns 14,301 shares of the real estate investment trust’s stock worth $84,000 after buying an additional 11,801 shares in the last quarter. Finally, Morey & Quinn Wealth Partners LLC acquired a new stake in Ares Commercial Real Estate during the 4th quarter worth approximately $92,000. Hedge funds and other institutional investors own 41.34% of the company’s stock.

Ares Commercial Real Estate Stock Performance

Shares of ACRE opened at $4.83 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.17. The stock has a market cap of $265.67 million, a P/E ratio of -7.43 and a beta of 1.27. The company has a 50-day moving average of $4.29 and a two-hundred day moving average of $5.46. Ares Commercial Real Estate Co. has a 12-month low of $3.35 and a 12-month high of $7.99.

Ares Commercial Real Estate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 12.42%. The ex-dividend date is Monday, June 30th. Ares Commercial Real Estate’s dividend payout ratio (DPR) is -240.00%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ACRE shares. UBS Group reduced their target price on shares of Ares Commercial Real Estate from $5.25 to $3.75 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. Keefe, Bruyette & Woods reduced their price objective on shares of Ares Commercial Real Estate from $5.50 to $4.50 and set a “market perform” rating on the stock in a report on Monday, April 7th. JPMorgan Chase & Co. reduced their price objective on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Finally, JMP Securities restated a “market perform” rating on shares of Ares Commercial Real Estate in a report on Monday, April 21st. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $5.19.

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.