Ares Commercial Real Estate (NYSE:ACRE) Trading Down 5.5% Following Insider Selling

Shares of Ares Commercial Real Estate Corp (NYSE:ACRE) dropped 5.5% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $15.72 and last traded at $15.76, approximately 717,178 shares were traded during mid-day trading. An increase of 69% from the average daily volume of 423,867 shares. The stock had previously closed at $16.67.

Specifically, Director James Alan Henderson sold 19,500 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $15.51, for a total value of $302,445.00. Following the completion of the sale, the director now directly owns 145,092 shares in the company, valued at $2,250,376.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 57,015 shares of company stock valued at $934,055 over the last quarter. Company insiders own 2.21% of the company’s stock.

Several equities research analysts recently issued reports on the stock. ValuEngine upgraded shares of Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research report on Friday. JPMorgan Chase & Co. raised their price objective on shares of Ares Commercial Real Estate from $16.00 to $16.50 and gave the stock a “neutral” rating in a research report on Tuesday. Credit Suisse Group raised their price objective on shares of Ares Commercial Real Estate from $16.00 to $17.50 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Finally, Zacks Investment Research upgraded shares of Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research report on Monday, January 13th.

The stock has a market capitalization of $545.93 million, a price-to-earnings ratio of 12.31 and a beta of 0.60. The company’s 50-day moving average is $16.60 and its 200-day moving average is $15.75. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 3.00.

Ares Commercial Real Estate (NYSE:ACRE) last released its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.04. Ares Commercial Real Estate had a net margin of 32.23% and a return on equity of 9.04%. The firm had revenue of $28.54 million during the quarter. Sell-side analysts anticipate that Ares Commercial Real Estate Corp will post 1.33 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 8.38%. The ex-dividend date of this dividend is Monday, March 30th. Ares Commercial Real Estate’s payout ratio is currently 98.51%.

A number of institutional investors have recently added to or reduced their stakes in the stock. Alberta Investment Management Corp purchased a new position in Ares Commercial Real Estate during the third quarter worth about $356,000. Rhumbline Advisers boosted its stake in Ares Commercial Real Estate by 9.4% during the third quarter. Rhumbline Advisers now owns 41,828 shares of the real estate investment trust’s stock worth $637,000 after buying an additional 3,589 shares during the period. James Investment Research Inc. boosted its stake in Ares Commercial Real Estate by 6.3% during the third quarter. James Investment Research Inc. now owns 53,475 shares of the real estate investment trust’s stock worth $814,000 after buying an additional 3,160 shares during the period. California Public Employees Retirement System boosted its stake in Ares Commercial Real Estate by 119.9% during the third quarter. California Public Employees Retirement System now owns 63,537 shares of the real estate investment trust’s stock worth $968,000 after buying an additional 34,645 shares during the period. Finally, Clear Harbor Asset Management LLC boosted its stake in Ares Commercial Real Estate by 2.0% during the third quarter. Clear Harbor Asset Management LLC now owns 51,097 shares of the real estate investment trust’s stock worth $778,000 after buying an additional 980 shares during the period. Hedge funds and other institutional investors own 55.28% of the company’s stock.

About Ares Commercial Real Estate (NYSE:ACRE)

Ares Commercial Real Estate Corporation, a specialty finance company, originates and invests in commercial real estate loans and related investments in the United States. It provides a range of financing solutions for the owners, operators, and sponsors of commercial real estate (CRE) properties. The company originates senior mortgage loans, subordinate debt products, real estate preferred equity investments, mezzanine loans, and other CRE investments.

Recommended Story: What is the FTSE 100 index?

Receive News & Ratings for Ares Commercial Real Estate Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Commercial Real Estate and related companies with MarketBeat.com's FREE daily email newsletter.