Insider Selling: Ares Commercial Real Estate Co. (NYSE:ACRE) CFO Sells $22,833.60 in Stock

Ares Commercial Real Estate Co. (NYSE:ACRE) CFO Jeffrey Michael Gonzales sold 4,020 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $5.68, for a total value of $22,833.60. Following the completion of the transaction, the chief financial officer now owns 50,751 shares of the company’s stock, valued at $288,265.68. This trade represents a 7.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Ares Commercial Real Estate Stock Up 1.8 %

Shares of NYSE:ACRE opened at $5.97 on Friday. Ares Commercial Real Estate Co. has a 1 year low of $5.33 and a 1 year high of $9.17. The stock has a 50-day simple moving average of $6.20 and a 200-day simple moving average of $6.72. The stock has a market capitalization of $325.33 million, a P/E ratio of -5.06 and a beta of 1.50. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.87 and a current ratio of 0.87.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Keefe, Bruyette & Woods dropped their target price on Ares Commercial Real Estate from $7.00 to $6.00 and set a “market perform” rating for the company in a research note on Tuesday, January 14th. JMP Securities restated a “market perform” rating on shares of Ares Commercial Real Estate in a report on Monday, December 9th. StockNews.com upgraded shares of Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Ares Commercial Real Estate from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Tuesday, January 21st. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.80.

Institutional Trading of Ares Commercial Real Estate

A number of institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its stake in shares of Ares Commercial Real Estate by 211.0% during the third quarter. FMR LLC now owns 7,741 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 5,252 shares during the period. BNP Paribas Financial Markets increased its holdings 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 acquiring an additional 1,711 shares during the last quarter. New York State Common Retirement Fund raised its holdings in shares of Ares Commercial Real Estate by 160.9% during the fourth quarter. New York State Common Retirement Fund now owns 11,838 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 7,300 shares during the period. Intech Investment Management LLC bought a new position in Ares Commercial Real Estate in the third quarter worth about $96,000. Finally, AQR Capital Management LLC acquired a new position in Ares Commercial Real Estate during the 2nd quarter valued at approximately $122,000. 41.34% of the stock is owned by hedge funds and other institutional investors.

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.