Ares Commercial Real Estate Co. (NYSE:ACRE) Shares Purchased by ProShare Advisors LLC

ProShare Advisors LLC increased its stake in shares of Ares Commercial Real Estate Co. (NYSE:ACRE) by 49.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,045 shares of the real estate investment trust’s stock after buying an additional 4,950 shares during the period. ProShare Advisors LLC’s holdings in Ares Commercial Real Estate were worth $89,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in ACRE. Summit Securities Group LLC boosted its holdings in Ares Commercial Real Estate by 139.7% during the fourth quarter. Summit Securities Group LLC now owns 6,700 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 3,905 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in Ares Commercial Real Estate during the fourth quarter worth about $69,000. New York State Common Retirement Fund boosted its holdings in Ares Commercial Real Estate by 160.9% during the fourth quarter. New York State Common Retirement Fund now owns 11,838 shares of the real estate investment trust’s stock worth $70,000 after buying an additional 7,300 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Ares Commercial Real Estate by 472.0% during the fourth quarter. Farther Finance Advisors LLC now owns 14,301 shares of the real estate investment trust’s stock worth $84,000 after buying an additional 11,801 shares in the last quarter. Finally, Morey & Quinn Wealth Partners LLC purchased a new stake in Ares Commercial Real Estate during the fourth quarter worth about $92,000. Hedge funds and other institutional investors own 41.34% of the company’s stock.

Ares Commercial Real Estate Stock Performance

NYSE:ACRE opened at $4.69 on Wednesday. The firm has a 50 day simple moving average of $4.25 and a 200-day simple moving average of $5.29. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market cap of $257.70 million, a PE ratio of -7.21 and a beta of 1.27. Ares Commercial Real Estate Co. has a 1-year low of $3.35 and a 1-year high of $7.99.

Ares Commercial Real Estate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 12.81%. The ex-dividend date of this dividend is Monday, June 30th. Ares Commercial Real Estate’s dividend payout ratio is presently -240.00%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ACRE shares. Keefe, Bruyette & Woods cut their target price on shares of Ares Commercial Real Estate from $5.50 to $4.50 and set a “market perform” rating for the company in a research report on Monday, April 7th. JPMorgan Chase & Co. cut 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. JMP Securities restated a “market perform” rating on shares of Ares Commercial Real Estate in a research report on Monday, April 21st. Finally, UBS Group lifted 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 report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $5.50.

Ares Commercial Real Estate 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.