Voya Investment Management LLC Reduces Stake in Ares Commercial Real Estate Co. (NYSE:ACRE)

Voya Investment Management LLC lessened its holdings in Ares Commercial Real Estate Co. (NYSE:ACRE) by 12.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,796 shares of the real estate investment trust’s stock after selling 2,780 shares during the quarter. Voya Investment Management LLC’s holdings in Ares Commercial Real Estate were worth $117,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of Ares Commercial Real Estate by 4.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 73,116 shares of the real estate investment trust’s stock valued at $431,000 after acquiring an additional 2,982 shares during the last quarter. Alpine Global Management LLC acquired a new position in Ares Commercial Real Estate during the fourth quarter valued at $368,000. MetLife Investment Management LLC boosted its holdings in Ares Commercial Real Estate by 13.0% in the fourth quarter. MetLife Investment Management LLC now owns 27,859 shares of the real estate investment trust’s stock valued at $164,000 after purchasing an additional 3,215 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its position in Ares Commercial Real Estate by 13.6% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 364,273 shares of the real estate investment trust’s stock worth $2,146,000 after purchasing an additional 43,520 shares during the period. Finally, Marshall Wace LLP purchased a new position in shares of Ares Commercial Real Estate during the 4th quarter valued at about $123,000. 41.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ACRE has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered their target price on Ares Commercial Real Estate from $6.00 to $5.50 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. JMP Securities restated a “market perform” rating on shares of Ares Commercial Real Estate in a research report on Monday, April 21st. UBS Group cut their target price on shares of Ares Commercial Real Estate from $5.25 to $3.75 and set a “neutral” rating for the company in a report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Ares Commercial Real Estate from $5.50 to $4.50 and set a “market perform” rating on the stock in a research report on Monday, April 7th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $5.19.

Ares Commercial Real Estate Price Performance

Ares Commercial Real Estate stock opened at $4.80 on Thursday. The stock has a market capitalization of $264.02 million, a P/E ratio of -7.38 and a beta of 1.27. The company’s fifty day moving average price is $4.29 and its 200 day moving average price is $5.49. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.87 and a current ratio of 0.87. Ares Commercial Real Estate Co. has a 1 year low of $3.35 and a 1 year high of $7.99.

Ares Commercial Real Estate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, June 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 12.50%. Ares Commercial Real Estate’s dividend payout ratio is currently -240.00%.

Ares Commercial Real Estate Company 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.