Ares Commercial Real Estate Corporation $ACRE Shares Bought by Farther Finance Advisors LLC

Farther Finance Advisors LLC boosted its position in shares of Ares Commercial Real Estate Corporation (NYSE:ACRE) by 51.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,424 shares of the real estate investment trust’s stock after buying an additional 8,323 shares during the period. Farther Finance Advisors LLC’s holdings in Ares Commercial Real Estate were worth $117,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new position in Ares Commercial Real Estate during the first quarter worth approximately $554,000. Delphi Financial Group Inc. acquired a new position in Ares Commercial Real Estate during the first quarter worth approximately $995,000. Victory Capital Management Inc. increased its position in Ares Commercial Real Estate by 2.7% during 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 period. Cura Wealth Advisors LLC increased its position in Ares Commercial Real Estate by 32.1% during the first quarter. Cura Wealth Advisors LLC now owns 963,485 shares of the real estate investment trust’s stock worth $4,461,000 after buying an additional 234,258 shares during the period. Finally, Private Advisor Group LLC increased its position in Ares Commercial Real Estate by 18.0% during 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 period. Institutional investors and hedge funds own 41.34% of the company’s stock.

Ares Commercial Real Estate Stock Up 1.9%

Shares of NYSE:ACRE opened at $4.69 on Friday. Ares Commercial Real Estate Corporation has a 52-week low of $3.35 and a 52-week high of $7.49. The stock’s fifty day simple moving average is $4.63 and its 200-day simple moving average is $4.55. The company has a market capitalization of $257.78 million, a P/E ratio of -13.78 and a beta of 1.32.

Ares Commercial Real Estate Announces Dividend

The business 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 12.8%. The ex-dividend date is Tuesday, September 30th. Ares Commercial Real Estate’s dividend payout ratio is currently -176.47%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Wall Street Zen lowered Ares Commercial Real Estate from a “hold” rating to a “strong sell” rating in a report on Saturday, August 9th. Keefe, Bruyette & Woods dropped 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 report on Wednesday, August 6th. UBS Group dropped their target price 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. Zacks Research raised Ares Commercial Real Estate to a “hold” rating in a report on Monday, August 11th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Ares Commercial Real Estate in a report on Saturday, September 27th. Five equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Ares Commercial Real Estate currently has an average rating of “Reduce” and an average 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.