Ares Commercial Real Estate Corporation (NYSE:ACRE) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. grew its holdings in Ares Commercial Real Estate Corporation (NYSE:ACRE) by 2.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 124,250 shares of the real estate investment trust’s stock after buying an additional 3,250 shares during the period. Victory Capital Management Inc. owned 0.23% of Ares Commercial Real Estate worth $575,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Arlington Trust Co LLC purchased a new stake in Ares Commercial Real Estate during the 1st quarter valued at about $28,000. McIlrath & Eck LLC purchased a new position in Ares Commercial Real Estate in the 4th quarter worth approximately $54,000. ProShare Advisors LLC boosted its holdings in shares of Ares Commercial Real Estate by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 15,045 shares of the real estate investment trust’s stock worth $89,000 after purchasing an additional 4,950 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Ares Commercial Real Estate in the fourth quarter valued at approximately $123,000. Finally, MetLife Investment Management LLC grew its position in shares of Ares Commercial Real Estate by 13.0% in the fourth quarter. MetLife Investment Management LLC now owns 27,859 shares of the real estate investment trust’s stock valued at $164,000 after purchasing an additional 3,215 shares in the last quarter. 41.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ACRE shares. Keefe, Bruyette & Woods lifted their price objective on Ares Commercial Real Estate from $4.50 to $4.80 and gave the stock a “market perform” rating in a research report on Thursday, July 10th. JMP Securities reaffirmed a “market perform” rating on shares of Ares Commercial Real Estate in a research note on Monday, April 21st. Finally, UBS Group boosted their price target on shares of Ares Commercial Real Estate from $3.75 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat.com, Ares Commercial Real Estate has a consensus rating of “Hold” and an average price target of $5.58.

Ares Commercial Real Estate Stock Performance

ACRE stock opened at $4.45 on Friday. Ares Commercial Real Estate Corporation has a one year low of $3.35 and a one year high of $7.83. The firm has a market cap of $244.79 million, a PE ratio of -17.80, a PEG ratio of 1.80 and a beta of 1.33. The firm’s 50 day moving average price is $4.74 and its 200-day moving average price is $4.76.

Ares Commercial Real Estate Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.15 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.60 dividend on an annualized basis and a yield of 13.5%. Ares Commercial Real Estate’s payout ratio is currently -240.00%.

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.