Rhumbline Advisers Has $365,000 Stock Holdings in Ares Commercial Real Estate Corporation $ACRE

Rhumbline Advisers lessened its position in shares of Ares Commercial Real Estate Corporation (NYSE:ACRE) by 5.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 78,779 shares of the real estate investment trust’s stock after selling 4,237 shares during the quarter. Rhumbline Advisers owned about 0.14% of Ares Commercial Real Estate worth $365,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Ameriprise Financial Inc. lifted its stake in Ares Commercial Real Estate by 44.0% in the fourth quarter. Ameriprise Financial Inc. now owns 149,143 shares of the real estate investment trust’s stock valued at $878,000 after buying an additional 45,600 shares during the period. Bank of America Corp DE lifted its stake in Ares Commercial Real Estate by 49.2% in the fourth quarter. Bank of America Corp DE now owns 118,434 shares of the real estate investment trust’s stock valued at $698,000 after buying an additional 39,049 shares during the period. Deutsche Bank AG lifted its stake in Ares Commercial Real Estate by 82.9% in the fourth quarter. Deutsche Bank AG now owns 65,072 shares of the real estate investment trust’s stock valued at $383,000 after buying an additional 29,498 shares during the period. Millennium Management LLC lifted its stake in Ares Commercial Real Estate by 505.7% in the fourth quarter. Millennium Management LLC now owns 316,969 shares of the real estate investment trust’s stock valued at $1,867,000 after buying an additional 264,641 shares during the period. Finally, ProShare Advisors LLC lifted its stake in Ares Commercial Real Estate by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 15,045 shares of the real estate investment trust’s stock valued at $89,000 after buying an additional 4,950 shares during the period. Institutional investors and hedge funds own 41.34% of the company’s stock.

Ares Commercial Real Estate Price Performance

NYSE ACRE opened at $4.79 on Thursday. The firm has a market cap of $263.22 million, a P/E ratio of -14.07 and a beta of 1.32. The stock’s 50-day moving average is $4.62 and its 200-day moving average is $4.56. Ares Commercial Real Estate Corporation has a one year low of $3.35 and a one year high of $7.51.

Ares Commercial Real Estate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.15 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 12.5%. Ares Commercial Real Estate’s dividend payout ratio (DPR) is presently -176.47%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Zacks Research raised Ares Commercial Real Estate to a “hold” rating in a research note on Monday, August 11th. Keefe, Bruyette & Woods cut their target price on Ares Commercial Real Estate from $4.80 to $4.25 and set a “market perform” rating on the stock in a research note on Wednesday, August 6th. UBS Group cut their target price on Ares Commercial Real Estate from $5.00 to $4.50 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Finally, Wall Street Zen lowered Ares Commercial Real Estate from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 9th. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Ares Commercial Real Estate currently has a consensus rating of “Hold” and a consensus price target of $4.75.

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.