Voya Investment Management LLC Has $112,000 Position in Ares Commercial Real Estate Corporation $ACRE

Voya Investment Management LLC increased its position in Ares Commercial Real Estate Corporation (NYSE:ACRE) by 21.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,105 shares of the real estate investment trust’s stock after buying an additional 4,309 shares during the period. Voya Investment Management LLC’s holdings in Ares Commercial Real Estate were worth $112,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its holdings in Ares Commercial Real Estate by 2.7% in the first quarter. Victory Capital Management Inc. now owns 124,250 shares of the real estate investment trust’s stock worth $575,000 after buying an additional 3,250 shares during the last quarter. ProShare Advisors LLC increased its holdings 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 worth $89,000 after buying an additional 4,950 shares during the last quarter. Private Advisor Group LLC increased its holdings in Ares Commercial Real Estate by 18.0% in the first quarter. Private Advisor Group LLC now owns 34,472 shares of the real estate investment trust’s stock worth $160,000 after buying an additional 5,267 shares during the last quarter. Inspire Investing LLC increased its holdings in Ares Commercial Real Estate by 8.5% in the first quarter. Inspire Investing LLC now owns 74,354 shares of the real estate investment trust’s stock worth $344,000 after buying an additional 5,811 shares during the last quarter. Finally, Arlington Trust Co LLC acquired a new position in Ares Commercial Real Estate in the first quarter worth approximately $28,000. Institutional investors and hedge funds own 41.34% of the company’s stock.

Ares Commercial Real Estate Trading Up 0.6%

ACRE opened at $4.54 on Thursday. Ares Commercial Real Estate Corporation has a 1-year low of $3.35 and a 1-year high of $7.49. The stock has a market capitalization of $249.47 million, a price-to-earnings ratio of -13.34 and a beta of 1.32. The business has a 50 day moving average of $4.63 and a 200-day moving average of $4.56.

Ares Commercial Real Estate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 13.2%. The ex-dividend date of this dividend is Tuesday, September 30th. Ares Commercial Real Estate’s dividend payout ratio is currently -176.47%.

Analyst Ratings Changes

Several brokerages have commented on ACRE. Wall Street Zen downgraded Ares Commercial Real Estate from a “hold” rating to a “strong sell” rating in a report on Saturday, August 9th. Keefe, Bruyette & Woods lowered their price target on Ares Commercial Real Estate from $4.80 to $4.25 and set a “market perform” rating on the stock in a report on Wednesday, August 6th. UBS Group lowered their price target on Ares Commercial Real Estate from $5.00 to $4.50 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Finally, Zacks Research upgraded Ares Commercial Real Estate to a “hold” rating in a report on Monday, August 11th. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $4.75.

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.