Ameriprise Financial Inc. Has $878,000 Stock Position in Ares Commercial Real Estate Co. (NYSE:ACRE)

Ameriprise Financial Inc. grew its holdings in shares of Ares Commercial Real Estate Co. (NYSE:ACRE) by 44.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 149,143 shares of the real estate investment trust’s stock after purchasing an additional 45,600 shares during the quarter. Ameriprise Financial Inc. owned about 0.27% of Ares Commercial Real Estate worth $878,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of ACRE. Van ECK Associates Corp lifted its holdings in shares of Ares Commercial Real Estate by 19.5% during the fourth quarter. Van ECK Associates Corp now owns 591,036 shares of the real estate investment trust’s stock worth $3,481,000 after buying an additional 96,551 shares during the last quarter. Bright Futures Wealth Management LLC. increased its position in shares of Ares Commercial Real Estate by 4.7% during the 4th quarter. Bright Futures Wealth Management LLC. now owns 96,364 shares of the real estate investment trust’s stock worth $543,000 after purchasing an additional 4,369 shares in the last quarter. New York State Common Retirement Fund increased its holdings in Ares Commercial Real Estate by 160.9% during the 4th quarter. New York State Common Retirement Fund now owns 11,838 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 7,300 shares in the last quarter. Victory Capital Management Inc. lifted its position in Ares Commercial Real Estate by 37.4% during the 4th quarter. Victory Capital Management Inc. now owns 121,000 shares of the real estate investment trust’s stock worth $713,000 after buying an additional 32,907 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Ares Commercial Real Estate during the fourth quarter valued at approximately $430,000. Institutional investors and hedge funds own 41.34% of the company’s stock.

Wall Street Analysts Forecast Growth

ACRE has been the subject of several recent research reports. JPMorgan Chase & Co. dropped their target price on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a “neutral” rating for the company in a research report on Thursday, February 13th. UBS Group upped their target price on shares of Ares Commercial Real Estate from $3.75 to $5.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 21st. JMP Securities reissued a “market perform” rating on shares of Ares Commercial Real Estate in a research report on Monday, April 21st. Finally, Keefe, Bruyette & Woods cut their price objective on Ares Commercial Real Estate from $5.50 to $4.50 and set a “market perform” rating for the company in a report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $5.50.

Ares Commercial Real Estate Stock Down 1.3%

ACRE stock opened at $4.55 on Tuesday. Ares Commercial Real Estate Co. has a 52 week low of $3.35 and a 52 week high of $7.99. The business has a 50-day simple moving average of $4.25 and a 200 day simple moving average of $5.29. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.17. The company has a market cap of $250.27 million, a PE ratio of -7.00 and a beta of 1.27.

Ares Commercial Real Estate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 13.19%. The ex-dividend date is Monday, June 30th. Ares Commercial Real Estate’s dividend payout ratio is presently -240.00%.

About Ares Commercial Real Estate

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.