Morey & Quinn Wealth Partners LLC Takes Position in Ares Commercial Real Estate Co. (NYSE:ACRE)

Morey & Quinn Wealth Partners LLC bought a new position in Ares Commercial Real Estate Co. (NYSE:ACRE) during the 4th quarter, Holdings Channel reports. The fund bought 15,651 shares of the real estate investment trust’s stock, valued at approximately $92,000.

A number of other hedge funds also recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in Ares Commercial Real Estate by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,272,163 shares of the real estate investment trust’s stock worth $8,907,000 after purchasing an additional 16,309 shares in the last quarter. State Street Corp increased its position in shares of Ares Commercial Real Estate by 2.3% during the third quarter. State Street Corp now owns 1,052,314 shares of the real estate investment trust’s stock valued at $7,627,000 after buying an additional 23,845 shares during the period. Hotchkis & Wiley Capital Management LLC raised its stake in Ares Commercial Real Estate by 1.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 861,390 shares of the real estate investment trust’s stock worth $6,030,000 after buying an additional 8,900 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Ares Commercial Real Estate by 19.5% in the fourth quarter. Van ECK Associates Corp now owns 591,036 shares of the real estate investment trust’s stock worth $3,481,000 after buying an additional 96,551 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Ares Commercial Real Estate by 187.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 415,332 shares of the real estate investment trust’s stock valued at $2,907,000 after acquiring an additional 270,791 shares in the last quarter. Hedge funds and other institutional investors own 41.34% of the company’s stock.

Ares Commercial Real Estate Stock Up 0.3 %

NYSE:ACRE opened at $4.78 on Thursday. The firm has a 50-day simple moving average of $5.25 and a two-hundred day simple moving average of $6.21. Ares Commercial Real Estate Co. has a fifty-two week low of $4.61 and a fifty-two week high of $7.99. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market cap of $261.94 million, a P/E ratio of -7.35 and a beta of 1.57.

Ares Commercial Real Estate Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.60 annualized dividend and a yield of 12.57%. Ares Commercial Real Estate’s dividend payout ratio is -92.31%.

Insider Buying and Selling

In other news, VP Anton Feingold sold 7,615 shares of Ares Commercial Real Estate stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $5.68, for a total value of $43,253.20. Following the completion of the sale, the vice president now directly owns 78,360 shares in the company, valued at $445,084.80. The trade was a 8.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. UBS Group lowered their target price on Ares Commercial Real Estate from $6.00 to $5.25 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Keefe, Bruyette & Woods dropped their target price on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a “market perform” rating on the stock in a report on Thursday, February 13th. JPMorgan Chase & Co. decreased their price target on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a “neutral” rating for the company in a research note on Thursday, February 13th. StockNews.com raised shares of Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Ares Commercial Real Estate in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus 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.