Evoke Wealth LLC Sells 51,064 Shares of Ares Commercial Real Estate Co. (NYSE:ACRE)

Evoke Wealth LLC lowered its position in Ares Commercial Real Estate Co. (NYSE:ACRE) by 48.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,000 shares of the real estate investment trust’s stock after selling 51,064 shares during the quarter. Evoke Wealth LLC’s holdings in Ares Commercial Real Estate were worth $332,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Commonwealth Equity Services LLC boosted its position in Ares Commercial Real Estate by 421.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 73,551 shares of the real estate investment trust’s stock valued at $433,000 after acquiring an additional 59,445 shares in the last quarter. CFO4Life Group LLC boosted its position in Ares Commercial Real Estate by 21.4% during the 4th quarter. CFO4Life Group LLC now owns 17,000 shares of the real estate investment trust’s stock valued at $100,000 after acquiring an additional 3,000 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Ares Commercial Real Estate by 472.0% during the 4th quarter. Farther Finance Advisors LLC now owns 14,301 shares of the real estate investment trust’s stock valued at $84,000 after acquiring an additional 11,801 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Ares Commercial Real Estate during the 4th quarter valued at $430,000. Finally, Victory Capital Management Inc. boosted its position in Ares Commercial Real Estate by 37.4% during the 4th quarter. Victory Capital Management Inc. now owns 121,000 shares of the real estate investment trust’s stock valued at $713,000 after acquiring an additional 32,907 shares in the last quarter. Institutional investors own 41.34% of the company’s stock.

Insider Buying and Selling

In related news, VP Anton Feingold sold 7,615 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $5.68, for a total value of $43,253.20. Following the completion of the transaction, the vice president now owns 78,360 shares in the company, valued at $445,084.80. This trade represents a 8.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.80% of the stock is currently owned by company insiders.

Ares Commercial Real Estate Stock Performance

Shares of ACRE stock opened at $4.96 on Thursday. The firm has a market capitalization of $271.82 million, a price-to-earnings ratio of -7.62 and a beta of 1.57. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.87 and a quick ratio of 0.87. The business has a fifty day moving average of $5.32 and a 200 day moving average of $6.29. Ares Commercial Real Estate Co. has a 1 year low of $4.61 and a 1 year high of $7.99.

Ares Commercial Real Estate Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.15 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.60 dividend on an annualized basis and a yield of 12.11%. Ares Commercial Real Estate’s dividend payout ratio (DPR) is -92.31%.

Analyst Upgrades and Downgrades

ACRE has been the topic of several recent research reports. JMP Securities reaffirmed a “market perform” rating on shares of Ares Commercial Real Estate in a research report on Thursday, February 13th. UBS Group lowered their price objective on Ares Commercial Real Estate from $6.00 to $5.25 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. StockNews.com raised Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research report on Tuesday, December 17th. JPMorgan Chase & Co. lowered their price objective on Ares Commercial Real Estate from $6.00 to $5.50 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Finally, Keefe, Bruyette & Woods lowered their price objective on Ares Commercial Real Estate from $6.00 to $5.50 and set a “market perform” rating for the company in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.81.

Ares Commercial Real Estate 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.