Creative Planning Sells 12,003 Shares of Ares Commercial Real Estate Co. (NYSE:ACRE)

Creative Planning trimmed its position in shares of Ares Commercial Real Estate Co. (NYSE:ACRE) by 34.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 23,186 shares of the real estate investment trust’s stock after selling 12,003 shares during the period. Creative Planning’s holdings in Ares Commercial Real Estate were worth $162,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Inspire Investing LLC raised its stake in Ares Commercial Real Estate by 8.8% during the 3rd quarter. Inspire Investing LLC now owns 58,181 shares of the real estate investment trust’s stock valued at $407,000 after buying an additional 4,714 shares during the last quarter. Strategic Wealth Partners Ltd. raised its stake in Ares Commercial Real Estate by 11.1% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 20,000 shares of the real estate investment trust’s stock valued at $140,000 after buying an additional 2,000 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Ares Commercial Real Estate during the 3rd quarter valued at $147,000. The Manufacturers Life Insurance Company raised its stake in Ares Commercial Real Estate by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,492 shares of the real estate investment trust’s stock valued at $276,000 after buying an additional 2,769 shares during the last quarter. Finally, AQR Capital Management LLC purchased a new stake in Ares Commercial Real Estate during the 2nd quarter valued at $122,000. 41.34% of the stock is owned by institutional investors.

Ares Commercial Real Estate Price Performance

Shares of ACRE stock opened at $7.21 on Tuesday. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market capitalization of $393.09 million, a P/E ratio of -6.11 and a beta of 1.46. The company’s 50-day simple moving average is $6.88 and its two-hundred day simple moving average is $6.98. Ares Commercial Real Estate Co. has a one year low of $6.25 and a one year high of $11.24.

Ares Commercial Real Estate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid 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 dividend yield of 13.87%. Ares Commercial Real Estate’s dividend payout ratio is presently -84.75%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company lowered shares of Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $7.50 to $7.00 in a research note on Friday, September 20th. StockNews.com downgraded shares of Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. BTIG Research reissued a “neutral” rating on shares of Ares Commercial Real Estate in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Ares Commercial Real Estate from $7.00 to $6.50 and set a “neutral” rating for the company in a research report on Thursday, October 17th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $7.10.

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.