Centiva Capital LP Invests $253,000 in Ares Commercial Real Estate Co. (NYSE:ACRE)

Centiva Capital LP purchased a new stake in shares of Ares Commercial Real Estate Co. (NYSE:ACRE) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 36,188 shares of the real estate investment trust’s stock, valued at approximately $253,000. Centiva Capital LP owned approximately 0.07% of Ares Commercial Real Estate at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of ACRE. BNP Paribas Financial Markets increased its stake in shares of Ares Commercial Real Estate by 17.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,733 shares of the real estate investment trust’s stock valued at $82,000 after buying an additional 1,711 shares during the period. FMR LLC increased its position in Ares Commercial Real Estate by 211.0% in the third quarter. FMR LLC now owns 7,741 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 5,252 shares during the period. Penserra Capital Management LLC raised its holdings in Ares Commercial Real Estate by 23.0% during the 3rd quarter. Penserra Capital Management LLC now owns 149,365 shares of the real estate investment trust’s stock worth $1,045,000 after purchasing an additional 27,900 shares during the last quarter. Intech Investment Management LLC acquired a new position in Ares Commercial Real Estate during the 3rd quarter valued at about $96,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Ares Commercial Real Estate by 4.3% in the 3rd quarter. Victory Capital Management Inc. now owns 88,093 shares of the real estate investment trust’s stock valued at $617,000 after purchasing an additional 3,593 shares during the last quarter. Institutional investors own 41.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ACRE shares. Wells Fargo & Company cut shares of Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $7.50 to $7.00 in a research note on Friday, September 20th. StockNews.com downgraded Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a report on Thursday, August 15th. JMP Securities restated a “market perform” rating on shares of Ares Commercial Real Estate in a report on Monday. Finally, JPMorgan Chase & Co. lowered their price target on Ares Commercial Real Estate from $7.00 to $6.50 and set a “neutral” rating for the company in a research note on Thursday, October 17th. Three analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, Ares Commercial Real Estate has an average rating of “Hold” and a consensus target price of $7.10.

Ares Commercial Real Estate Stock Down 0.1 %

ACRE stock opened at $7.12 on Thursday. The company has a market cap of $388.34 million, a price-to-earnings ratio of -6.03 and a beta of 1.48. Ares Commercial Real Estate Co. has a twelve month low of $6.25 and a twelve month high of $11.24. The business has a 50 day moving average price of $6.83 and a two-hundred day moving average price of $7.01. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.38.

Ares Commercial Real Estate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 14.04%. Ares Commercial Real Estate’s payout ratio is -84.75%.

About Ares Commercial Real Estate

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.