Ares Commercial Real Estate Co. (NYSE:ACRE) Sees Significant Increase in Short-Term Interest

Ares Commercial Real Estate Co. (NYSE:ACRE – Get Rating) enjoyed significant growth in short-term interest in May. As of May 31, there was short interest totaling 1,180,000 shares, up 40.2% from the May 15 total of 841,400 shares. Based on an average trading volume of 679,300 shares, the day-to-cover ratio is currently 1.7 days.

Several hedge funds and other institutional investors have recently changed their holdings in ACRE. Morgan Stanley increased its holdings of Ares Commercial Real Estate shares by 185.6% during the second quarter. Morgan Stanley now owns 415,058 shares of the real estate investment trust worth $6,098,000 after buying an additional 269,735 shares last quarter. Geode Capital Management LLC increased its position in Ares Commercial Real Estate by 14.9% in the 3rd quarter. Geode Capital Management LLC now owns 754,888 shares of the real estate investment trust worth $11,383,000 after purchasing an additional 97,622 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Ares Commercial Real Estate by 47.8% in the third quarter. The Manufacturers Life Insurance Company now owns 33,380 shares of the real estate investment trust worth $503,000 after purchasing an additional 10,801 shares in the last quarter. Voya Investment Management LLC increased its position in Ares Commercial Real Estate by 7.1% in the third quarter. Voya Investment Management LLC now owns 14,494 shares of the real estate investment trust worth $219,000 after buying 961 additional shares in the last quarter. Finally, Penserra Capital Management LLC acquired a new stake in Ares Commercial Real Estate in Q3 worth approximately $81,000. 46.66% of the shares are held by institutional investors.

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ACRE has been the subject of several research reports. JPMorgan Chase & Co. raised its price target on Ares Commercial Real Estate shares from $14.50 to $16.00 and gave the company a “neutral” rating in a Monday, April 25 report. JMP Securities reiterated a “buy” rating and issued a $16.50 price target on Ares Commercial Real Estate shares in a Tuesday, May 24 report. Finally, StockNews.com took over Ares Commercial Real Estate stock coverage in a Thursday, March 31 report. They issued a “hold” rating on the stock.

Shares of NYSE ACRE traded up $0.10 at midday Wednesday, hitting $11.97. 1,226,443 shares of the company were traded, with an average volume of 644,518. The company has a market capitalization of $567.83 million, a price-earnings ratio of 8.86 and a beta of 1.20. Ares Commercial Real Estate has a 52-week low of $11.62 and a 52-week high of $16.97. The company has a debt ratio of 2.57, a current ratio of 0.61 and a quick ratio of 0.61. The company has a 50-day moving average price of $14.99 and a two-hundred-day moving average price of $14.82.

Ares Commercial Real Estate (NYSE:ACRE – Get Rating) last reported quarterly earnings data on Tuesday, May 3. The REIT reported earnings per share (EPS) of $0.34 for the quarter, missing analyst consensus estimates of $0.36 per ($0.02). Ares Commercial Real Estate achieved a net margin of 58.09% and a return on equity of 9.74%. In the same period a year earlier, the company earned earnings per share of $0.38. As a group, sell-side analysts expect Ares Commercial Real Estate to post EPS of 1.38 for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 15. Shareholders of record on Thursday, June 30 will receive a dividend of $0.35 per share. This represents a dividend of $1.40 on an annualized basis and a yield of 11.70%. The ex-dividend date is Wednesday, June 29. This is a positive change from Ares Commercial Real Estate’s previous quarterly dividend of $0.33. Ares Commercial Real Estate’s payout ratio is currently 98.51%.

Ares Commercial Real Estate Company Profile (Get an assessment)

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. The company offers a range of financing solutions for owners, operators and sponsors of CRE properties. It issues first mortgage loans, subordinated debt products, mezzanine loans, preferred equity investments in real estate and other CRE investments, including commercial mortgage-backed securities.

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