Ares Commercial Real Estate Co. (NYSE:ACRE) Short Interest Up 12.7% in September

Ares Commercial Real Estate Co. (NYSE:ACRE) saw a significant increase in short interest in September. As of September 30th, there was short interest totalling 1,860,000 shares, an increase of 12.7% from the September 15th total of 1,650,000 shares. Based on an average trading volume of 480,900 shares, the days-to-cover ratio is currently 3.9 days.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ACRE shares. StockNews.com cut shares of Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. Wells Fargo & Company cut Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $7.50 to $7.00 in a research note on Friday, September 20th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of Ares Commercial Real Estate in a research note on Friday, July 19th. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, Ares Commercial Real Estate currently has a consensus rating of “Hold” and a consensus target price of $7.20.

Ares Commercial Real Estate Stock Up 2.7 %

Shares of NYSE ACRE traded up $0.18 during trading on Wednesday, reaching $6.79. The company had a trading volume of 399,529 shares, compared to its average volume of 589,046. The business’s 50-day moving average is $7.00 and its 200 day moving average is $7.01. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.32. The stock has a market cap of $370.10 million, a PE ratio of -7.96 and a beta of 1.45. Ares Commercial Real Estate has a 12-month low of $6.36 and a 12-month high of $11.24.

Ares Commercial Real Estate Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.73%. The ex-dividend date was Monday, September 30th. Ares Commercial Real Estate’s payout ratio is -120.48%.

Hedge Funds Weigh In On Ares Commercial Real Estate

A number of hedge funds have recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC bought a new stake in Ares Commercial Real Estate in the 2nd quarter worth about $68,000. XTX Topco Ltd purchased a new stake in Ares Commercial Real Estate during the second quarter valued at $82,000. EntryPoint Capital LLC purchased a new stake in Ares Commercial Real Estate during the first quarter valued at $84,000. Quest Partners LLC lifted its holdings in Ares Commercial Real Estate by 1,329,500.0% in the second quarter. Quest Partners LLC now owns 13,296 shares of the real estate investment trust’s stock valued at $88,000 after acquiring an additional 13,295 shares during the period. Finally, Virtu Financial LLC bought a new stake in shares of Ares Commercial Real Estate during the 1st quarter valued at about $108,000. 41.34% of the stock is currently 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.