Evoke Wealth LLC Decreases Stake in Ares Commercial Real Estate Co. (NYSE:ACRE)

Evoke Wealth LLC reduced its position in Ares Commercial Real Estate Co. (NYSE:ACRE) by 48.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,000 shares of the real estate investment trust’s stock after selling 51,064 shares during the period. Evoke Wealth LLC owned 0.10% of Ares Commercial Real Estate worth $332,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ACRE. FMR LLC lifted its position in shares of Ares Commercial Real Estate by 211.0% in the third quarter. FMR LLC now owns 7,741 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 5,252 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of Ares Commercial Real Estate by 160.9% in 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 buying an additional 7,300 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Ares Commercial Real Estate by 17.1% in the third quarter. BNP Paribas Financial Markets now owns 11,733 shares of the real estate investment trust’s stock worth $82,000 after buying an additional 1,711 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Ares Commercial Real Estate by 472.0% in the fourth quarter. Farther Finance Advisors LLC now owns 14,301 shares of the real estate investment trust’s stock worth $84,000 after buying an additional 11,801 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of Ares Commercial Real Estate in the third quarter worth about $96,000. 41.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Ares Commercial Real Estate

In other news, VP Anton Feingold sold 7,615 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 78,360 shares in the company, valued at approximately $445,084.80. This represents a 8.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ACRE shares. StockNews.com upgraded Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research report on Tuesday, December 17th. JPMorgan Chase & Co. decreased their price objective on Ares Commercial Real Estate from $6.00 to $5.50 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Keefe, Bruyette & Woods decreased their price objective on Ares Commercial Real Estate from $6.00 to $5.50 and set a “market perform” rating on the stock in a research report on Thursday, February 13th. JMP Securities restated a “market perform” rating on shares of Ares Commercial Real Estate in a research report on Thursday, February 13th. Finally, UBS Group decreased their price objective on Ares Commercial Real Estate from $6.00 to $5.25 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $5.81.

Ares Commercial Real Estate Trading Up 0.3 %

Shares of NYSE ACRE opened at $4.96 on Thursday. 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 business’s 50 day moving average price is $5.32 and its 200-day moving average price is $6.29. 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 market cap of $271.82 million, a price-to-earnings ratio of -7.62 and a beta of 1.57.

Ares Commercial Real Estate Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.15 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.60 annualized dividend and a dividend yield of 12.11%. Ares Commercial Real Estate’s payout ratio is -92.31%.

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.