Knightsbridge Asset Management LLC Sells 11,692 Shares of Ares Commercial Real Estate Co. (NYSE:ACRE)

Knightsbridge Asset Management LLC trimmed its holdings in Ares Commercial Real Estate Co. (NYSE:ACRE) by 12.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,122 shares of the real estate investment trust’s stock after selling 11,692 shares during the period. Knightsbridge Asset Management LLC owned approximately 0.16% of Ares Commercial Real Estate worth $507,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of 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 purchasing an additional 270,791 shares during the period. ExodusPoint Capital Management LP purchased a new position in Ares Commercial Real Estate during the 4th quarter valued at about $891,000. Van ECK Associates Corp lifted its holdings in shares of 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 in the last quarter. Raymond James Financial Inc. purchased a new stake in Ares Commercial Real Estate in the 4th quarter worth approximately $430,000. Finally, Alpine Global Management LLC bought a new stake in Ares Commercial Real Estate during the fourth quarter valued at $368,000. Institutional investors own 41.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ACRE shares. UBS Group decreased their target price on Ares Commercial Real Estate from $5.25 to $3.75 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. dropped their target price on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Keefe, Bruyette & Woods lowered their price objective on shares of Ares Commercial Real Estate from $5.50 to $4.50 and set a “market perform” rating on the stock in a research report on Monday, April 7th. Finally, JMP Securities reissued a “market perform” rating on shares of Ares Commercial Real Estate in a report on Monday. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $5.19.

Insider Transactions at Ares Commercial Real Estate

In other news, VP Anton Feingold sold 7,615 shares of Ares Commercial Real Estate stock in a transaction dated 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 transaction, the vice president now owns 78,360 shares of the company’s stock, valued at $445,084.80. The trade was a 8.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Ares Commercial Real Estate Price Performance

ACRE opened at $3.81 on Friday. 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 capitalization of $209.01 million, a PE ratio of -5.86 and a beta of 1.22. The stock’s 50 day moving average price is $4.43 and its 200-day moving average price is $5.71. Ares Commercial Real Estate Co. has a 52-week low of $3.35 and a 52-week high of $7.99.

Ares Commercial Real Estate Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.15 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.60 annualized dividend and a yield of 15.75%. Ares Commercial Real Estate’s dividend payout ratio (DPR) is presently -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.