Penserra Capital Management LLC Boosts Stock Holdings in Ares Commercial Real Estate Co. (NYSE:ACRE)

Penserra Capital Management LLC lifted its holdings in Ares Commercial Real Estate Co. (NYSE:ACRE) by 23.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 149,365 shares of the real estate investment trust’s stock after purchasing an additional 27,900 shares during the period. Penserra Capital Management LLC owned about 0.27% of Ares Commercial Real Estate worth $1,045,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ACRE. Ameritas Advisory Services LLC purchased a new stake in Ares Commercial Real Estate during the second quarter worth $68,000. XTX Topco Ltd bought a new position in shares of Ares Commercial Real Estate in the 2nd quarter worth $82,000. Quest Partners LLC lifted its stake in shares of Ares Commercial Real Estate by 1,329,500.0% during the 2nd quarter. Quest Partners LLC now owns 13,296 shares of the real estate investment trust’s stock worth $88,000 after purchasing an additional 13,295 shares during the last quarter. Intech Investment Management LLC bought a new stake in Ares Commercial Real Estate during the third quarter valued at about $96,000. Finally, Virtu Financial LLC purchased a new position in Ares Commercial Real Estate in the first quarter valued at about $108,000. 41.34% of the stock is currently owned by institutional investors.

Ares Commercial Real Estate Trading Down 1.0 %

Shares of Ares Commercial Real Estate stock opened at $7.22 on Wednesday. The firm’s 50 day simple moving average is $6.87 and its two-hundred day simple moving average is $6.99. The firm has a market capitalization of $393.79 million, a price-to-earnings ratio of -6.12 and a beta of 1.46. Ares Commercial Real Estate Co. has a 12-month low of $6.25 and a 12-month high of $11.24. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.38.

Ares Commercial Real Estate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.25 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 13.85%. Ares Commercial Real Estate’s dividend payout ratio (DPR) is -84.75%.

Wall Street Analysts Forecast Growth

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

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.