Private Advisor Group LLC Boosts Position in Ares Commercial Real Estate Corporation (NYSE:ACRE)

Private Advisor Group LLC lifted its position in shares of Ares Commercial Real Estate Corporation (NYSE:ACRE) by 18.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,472 shares of the real estate investment trust’s stock after purchasing an additional 5,267 shares during the quarter. Private Advisor Group LLC owned 0.06% of Ares Commercial Real Estate worth $160,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Arlington Trust Co LLC acquired a new stake in Ares Commercial Real Estate in the 1st quarter valued at $28,000. McIlrath & Eck LLC acquired a new stake in Ares Commercial Real Estate during the 4th quarter worth $54,000. ProShare Advisors LLC boosted its stake in 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 acquired a new stake in Ares Commercial Real Estate during the 4th quarter worth $123,000. Finally, MetLife Investment Management LLC boosted its stake in Ares Commercial Real Estate by 13.0% during the 4th quarter. MetLife Investment Management LLC now owns 27,859 shares of the real estate investment trust’s stock worth $164,000 after purchasing an additional 3,215 shares during the last quarter. Institutional investors and hedge funds own 41.34% of the company’s stock.

Ares Commercial Real Estate Price Performance

Shares of NYSE:ACRE opened at $4.45 on Friday. The firm’s 50-day moving average is $4.74 and its two-hundred day moving average is $4.75. Ares Commercial Real Estate Corporation has a 1 year low of $3.35 and a 1 year high of $7.83. The firm has a market capitalization of $244.79 million, a PE ratio of -17.80, a price-to-earnings-growth ratio of 1.79 and a beta of 1.33.

Ares Commercial Real Estate Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

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.