LPL Financial LLC boosted its position in shares of Ares Commercial Real Estate Co. (NYSE:ACRE – Free Report) by 2.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 151,928 shares of the real estate investment trust’s stock after buying an additional 3,673 shares during the quarter. LPL Financial LLC owned 0.28% of Ares Commercial Real Estate worth $1,542,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the company. Samalin Investment Counsel LLC acquired a new position in shares of Ares Commercial Real Estate in the 1st quarter valued at $50,000. Horan Securities Inc. acquired a new stake in Ares Commercial Real Estate during the 2nd quarter worth about $33,000. Quarry LP acquired a new stake in Ares Commercial Real Estate during the 1st quarter worth about $31,000. Allspring Global Investments Holdings LLC boosted its position in Ares Commercial Real Estate by 40.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 5,088 shares of the real estate investment trust’s stock worth $52,000 after acquiring an additional 1,462 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new stake in Ares Commercial Real Estate during the 1st quarter worth about $49,000. Institutional investors own 38.37% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have commented on ACRE. Raymond James lowered Ares Commercial Real Estate from an “outperform” rating to a “market perform” rating in a research report on Friday, August 18th. They noted that the move was a valuation call. Wells Fargo & Company initiated coverage on Ares Commercial Real Estate in a research note on Wednesday, September 13th. They set an “equal weight” rating and a $10.00 price target for the company. JMP Securities raised their price objective on Ares Commercial Real Estate from $11.00 to $11.50 and gave the company an “outperform” rating in a research note on Thursday, August 3rd. JPMorgan Chase & Co. raised their price objective on Ares Commercial Real Estate from $8.00 to $10.00 in a research note on Monday, July 24th. Finally, StockNews.com initiated coverage on Ares Commercial Real Estate in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $10.40.
Ares Commercial Real Estate Stock Down 0.7 %
Shares of ACRE stock opened at $9.50 on Tuesday. Ares Commercial Real Estate Co. has a 12 month low of $7.52 and a 12 month high of $12.75. The firm has a market cap of $514.33 million, a PE ratio of 158.36 and a beta of 1.45. The stock has a 50 day moving average of $9.63 and a 200-day moving average of $9.75. The company has a quick ratio of 21.43, a current ratio of 21.43 and a debt-to-equity ratio of 2.25.
Ares Commercial Real Estate Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 17th. Stockholders of record on Friday, December 29th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 13.89%. The ex-dividend date is Thursday, December 28th. Ares Commercial Real Estate’s dividend payout ratio is presently 2,200.37%.
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.
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