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.
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.
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