Insider Selling: Ares Commercial Real Estate Corp (NYSE:ACRE) Director Sells 19,500 Shares of Stock

Ares Commercial Real Estate Corp (NYSE:ACRE) Director James Alan Henderson sold 19,500 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $15.51, for a total transaction of $302,445.00. Following the sale, the director now owns 145,092 shares of the company’s stock, valued at approximately $2,250,376.92. The sale was disclosed in a legal filing with the SEC, which is available at this link.

NYSE:ACRE opened at $15.64 on Wednesday. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.12 and a quick ratio of 0.12. Ares Commercial Real Estate Corp has a one year low of $12.75 and a one year high of $15.84. The company has a market cap of $450.88 million, a PE ratio of 11.25 and a beta of 0.58. The firm has a 50-day moving average of $15.45 and a 200-day moving average of $15.24.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC boosted its stake in Ares Commercial Real Estate by 523.8% during the 3rd quarter. Millennium Management LLC now owns 494,725 shares of the real estate investment trust’s stock valued at $7,534,000 after purchasing an additional 415,411 shares during the last quarter. Voloridge Investment Management LLC increased its holdings in Ares Commercial Real Estate by 154.4% during the 3rd quarter. Voloridge Investment Management LLC now owns 35,143 shares of the real estate investment trust’s stock worth $535,000 after purchasing an additional 21,328 shares in the last quarter. Barclays PLC raised its stake in shares of Ares Commercial Real Estate by 8.9% in the third quarter. Barclays PLC now owns 21,272 shares of the real estate investment trust’s stock worth $324,000 after purchasing an additional 1,742 shares during the last quarter. State Street Corp raised its stake in shares of Ares Commercial Real Estate by 0.8% in the third quarter. State Street Corp now owns 776,787 shares of the real estate investment trust’s stock worth $12,086,000 after purchasing an additional 5,847 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Ares Commercial Real Estate by 2.2% in the third quarter. Russell Investments Group Ltd. now owns 65,407 shares of the real estate investment trust’s stock valued at $999,000 after purchasing an additional 1,388 shares in the last quarter. 62.83% of the stock is currently owned by institutional investors and hedge funds.

Separately, Zacks Investment Research upgraded shares of Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd.

Ares Commercial Real Estate Company Profile

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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