Rhumbline Advisers Purchases 1,797 Shares of Ares Commercial Real Estate Co. (NYSE:ACRE)

Rhumbline Advisers grew its position in Ares Commercial Real Estate Co. (NYSE:ACRE) by 2.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 86,466 shares of the real estate investment trust’s stock after purchasing an additional 1,797 shares during the period. Rhumbline Advisers owned approximately 0.16% of Ares Commercial Real Estate worth $575,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Van ECK Associates Corp lifted its stake in Ares Commercial Real Estate by 26.9% in the 2nd quarter. Van ECK Associates Corp now owns 524,694 shares of the real estate investment trust’s stock valued at $3,489,000 after acquiring an additional 111,194 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of Ares Commercial Real Estate in the second quarter worth $68,000. Access Investment Management LLC lifted its position in shares of Ares Commercial Real Estate by 15.5% in the second quarter. Access Investment Management LLC now owns 85,700 shares of the real estate investment trust’s stock worth $570,000 after purchasing an additional 11,500 shares in the last quarter. Bank of New York Mellon Corp grew its position in Ares Commercial Real Estate by 10.5% in the second quarter. Bank of New York Mellon Corp now owns 206,143 shares of the real estate investment trust’s stock valued at $1,371,000 after purchasing an additional 19,626 shares in the last quarter. Finally, Curated Wealth Partners LLC increased its stake in Ares Commercial Real Estate by 200.0% in the 2nd quarter. Curated Wealth Partners LLC now owns 20,000 shares of the real estate investment trust’s stock valued at $133,000 after buying an additional 40,000 shares during the last quarter. 41.34% of the stock is owned by institutional investors and hedge funds.

Ares Commercial Real Estate Price Performance

Shares of NYSE ACRE opened at $7.17 on Thursday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.32. The business’s 50 day moving average price is $7.21 and its two-hundred day moving average price is $7.10. The company has a market cap of $390.82 million, a PE ratio of -8.64 and a beta of 1.45. Ares Commercial Real Estate Co. has a twelve month low of $6.36 and a twelve month high of $11.24.

Ares Commercial Real Estate Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 13.95%. The ex-dividend date is Monday, September 30th. Ares Commercial Real Estate’s dividend payout ratio (DPR) is presently -120.48%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ACRE shares. BTIG Research restated a “neutral” rating on shares of Ares Commercial Real Estate in a research note on Friday, July 19th. Wells Fargo & Company downgraded Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $7.50 to $7.00 in a research note on Friday, September 20th. Finally, StockNews.com lowered Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. Three equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $7.20.

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.