Ares Commercial Real Estate Corp (NYSE:ACRE) Sees Large Growth in Short Interest

Posted by on Nov 17th, 2019 // Comments off

Ares Commercial Real Estate Corp (NYSE:ACRE) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 1,600,000 shares, a growth of 7.4% from the September 30th total of 1,490,000 shares. Approximately 6.2% of the company’s shares are short sold. Based on an average daily trading volume, of 171,800 shares, the days-to-cover ratio is presently 9.3 days.

Shares of Ares Commercial Real Estate stock traded up $0.10 during trading on Friday, hitting $15.40. 129,994 shares of the company were exchanged, compared to its average volume of 188,462. The firm has a market capitalization of $441.64 million, a P/E ratio of 11.33 and a beta of 0.57. Ares Commercial Real Estate has a 1-year low of $12.75 and a 1-year high of $15.84. The firm’s fifty day moving average price is $15.32 and its 200 day moving average price is $15.17. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.12 and a quick ratio of 0.10.

Separately, Zacks Investment Research lowered Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a research report on Thursday.

Several institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. grew its position in shares of Ares Commercial Real Estate by 21.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 64,019 shares of the real estate investment trust’s stock valued at $939,000 after purchasing an additional 11,510 shares during the period. Grantham Mayo Van Otterloo & Co. LLC grew its position in shares of Ares Commercial Real Estate by 16.3% in the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 186,000 shares of the real estate investment trust’s stock valued at $2,764,000 after purchasing an additional 26,000 shares during the period. Nuveen Asset Management LLC acquired a new position in shares of Ares Commercial Real Estate in the 2nd quarter valued at approximately $6,194,000. Vanguard Group Inc. grew its position in shares of Ares Commercial Real Estate by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 1,338,523 shares of the real estate investment trust’s stock valued at $19,891,000 after purchasing an additional 20,904 shares during the period. Finally, Orinda Asset Management LLC acquired a new position in shares of Ares Commercial Real Estate in the 2nd quarter valued at approximately $193,000. Institutional investors own 62.26% of the company’s stock.

About Ares Commercial Real Estate

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.

Further Reading: What are the benefits of buying treasury bonds?

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.