Jaffetilchin Investment Partners LLC Decreases Stock Position in Ares Commercial Real Estate Co. (NYSE:ACRE)

Jaffetilchin Investment Partners LLC lowered its stake in Ares Commercial Real Estate Co. (NYSE:ACRE) by 15.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,140 shares of the real estate investment trust’s stock after selling 1,791 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in Ares Commercial Real Estate were worth $67,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Ameritas Advisory Services LLC purchased a new position in shares of Ares Commercial Real Estate in the second quarter worth about $68,000. Access Investment Management LLC lifted its holdings in shares of Ares Commercial Real Estate by 15.5% during the second quarter. Access Investment Management LLC now owns 85,700 shares of the real estate investment trust’s stock valued at $570,000 after purchasing an additional 11,500 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Ares Commercial Real Estate by 10.5% during the second quarter. Bank of New York Mellon Corp now owns 206,143 shares of the real estate investment trust’s stock valued at $1,371,000 after purchasing an additional 19,626 shares during the last quarter. Curated Wealth Partners LLC lifted its holdings in shares of Ares Commercial Real Estate by 200.0% during the second quarter. Curated Wealth Partners LLC now owns 20,000 shares of the real estate investment trust’s stock valued at $133,000 after purchasing an additional 40,000 shares during the last quarter. Finally, Bright Futures Wealth Management LLC. purchased a new position in shares of Ares Commercial Real Estate during the first quarter valued at approximately $630,000. Hedge funds and other institutional investors own 41.34% of the company’s stock.

Ares Commercial Real Estate Stock Performance

ACRE traded down $0.08 during mid-day trading on Friday, reaching $7.06. 288,485 shares of the company traded hands, compared to its average volume of 607,083. The stock has a market capitalization of $384.82 million, a P/E ratio of -8.51 and a beta of 1.46. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 2.29. The company’s fifty day moving average price is $7.11 and its 200-day moving average price is $7.17. Ares Commercial Real Estate Co. has a 52-week low of $6.36 and a 52-week high of $11.24.

Ares Commercial Real Estate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 14.16%. Ares Commercial Real Estate’s dividend payout ratio is presently -120.48%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. BTIG Research restated a “neutral” rating on shares of Ares Commercial Real Estate in a report on Friday, July 19th. StockNews.com lowered shares of Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a report on Thursday, August 15th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Ares Commercial Real Estate from $7.50 to $7.00 and set a “market perform” rating for the company in a report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.80.

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.