Morey & Quinn Wealth Partners LLC Invests $92,000 in Ares Commercial Real Estate Co. (NYSE:ACRE)

Morey & Quinn Wealth Partners LLC acquired a new stake in Ares Commercial Real Estate Co. (NYSE:ACRE) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 15,651 shares of the real estate investment trust’s stock, valued at approximately $92,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. raised its position in shares of Ares Commercial Real Estate by 187.3% in the third quarter. JPMorgan Chase & Co. now owns 415,332 shares of the real estate investment trust’s stock valued at $2,907,000 after purchasing an additional 270,791 shares during the period. Geode Capital Management LLC raised its holdings in Ares Commercial Real Estate by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,272,163 shares of the real estate investment trust’s stock valued at $8,907,000 after acquiring an additional 16,309 shares during the period. Van ECK Associates Corp lifted its position in shares of Ares Commercial Real Estate by 19.5% during 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 acquiring an additional 96,551 shares in the last quarter. FMR LLC boosted its holdings 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 acquiring an additional 5,252 shares during the period. Finally, State Street Corp grew its position in shares of Ares Commercial Real Estate by 2.3% in 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 purchasing an additional 23,845 shares in the last quarter. 41.34% of the stock is owned by institutional investors.

Insider Transactions at Ares Commercial Real Estate

In related news, VP Anton Feingold sold 7,615 shares of the business’s 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 completion of the sale, the vice president now owns 78,360 shares in the company, valued at $445,084.80. The trade was a 8.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

ACRE has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their price objective on Ares Commercial Real Estate from $6.00 to $5.50 and set a “neutral” rating on the stock in a 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. Keefe, Bruyette & Woods decreased 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. UBS Group cut their price target on shares of Ares Commercial Real Estate from $6.00 to $5.25 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Finally, StockNews.com raised shares of Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $5.81.

Ares Commercial Real Estate Stock Performance

Ares Commercial Real Estate stock opened at $4.78 on Thursday. 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 stock has a market cap of $261.94 million, a P/E ratio of -7.35 and a beta of 1.57. The firm’s fifty day moving average price is $5.25 and its 200-day moving average price is $6.21.

Ares Commercial Real Estate Cuts Dividend

The company also recently declared 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. This represents a $0.60 annualized dividend and a yield of 12.57%. The ex-dividend date of this dividend is Monday, March 31st. Ares Commercial Real Estate’s dividend payout ratio (DPR) is currently -92.31%.

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.