TIAA CREF Investment Management LLC continued to hold its position in shares of Ares Commercial Real Estate Corporation (NYSE:ACRE) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 142,408 shares of the real estate investment trust’s stock at the end of the 2nd quarter. TIAA CREF Investment Management LLC owned about 0.50% of Ares Commercial Real Estate Corporation worth $1,864,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Edge Wealth Management LLC grew its stake in Ares Commercial Real Estate Corporation by 900.0% in the second quarter. Edge Wealth Management LLC now owns 10,000 shares of the real estate investment trust’s stock valued at $132,000 after purchasing an additional 9,000 shares during the last quarter. Tudor Investment Corp ET AL grew its stake in Ares Commercial Real Estate Corporation by 1.5% in the first quarter. Tudor Investment Corp ET AL now owns 10,705 shares of the real estate investment trust’s stock valued at $143,000 after purchasing an additional 158 shares during the last quarter. American International Group Inc. grew its stake in Ares Commercial Real Estate Corporation by 6.9% in the first quarter. American International Group Inc. now owns 16,512 shares of the real estate investment trust’s stock valued at $221,000 after purchasing an additional 1,060 shares during the last quarter. Aperio Group LLC grew its stake in Ares Commercial Real Estate Corporation by 10.2% in the second quarter. Aperio Group LLC now owns 22,793 shares of the real estate investment trust’s stock valued at $298,000 after purchasing an additional 2,101 shares during the last quarter. Finally, Marshall Wace North America L.P. purchased a new position in Ares Commercial Real Estate Corporation in the second quarter valued at about $401,000. Hedge funds and other institutional investors own 64.18% of the company’s stock.

ACRE has been the topic of several analyst reports. Zacks Investment Research upgraded Ares Commercial Real Estate Corporation from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research note on Wednesday, July 26th. BidaskClub lowered Ares Commercial Real Estate Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Credit Suisse Group restated a “hold” rating on shares of Ares Commercial Real Estate Corporation in a research note on Friday, August 4th. JMP Securities boosted their price target on Ares Commercial Real Estate Corporation to $14.00 and gave the stock a “market outperform” rating in a research note on Monday, August 7th. Finally, Keefe, Bruyette & Woods set a $14.00 price target on Ares Commercial Real Estate Corporation and gave the stock a “hold” rating in a research note on Thursday, August 17th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $14.45.

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Ares Commercial Real Estate Corporation (NYSE:ACRE) last released its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.11. Ares Commercial Real Estate Corporation had a return on equity of 7.75% and a net margin of 33.69%. The business had revenue of $28.55 million for the quarter, compared to the consensus estimate of $11.71 million. During the same quarter in the prior year, the business posted $0.31 EPS.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 8.28%. Ares Commercial Real Estate Corporation’s payout ratio is currently 94.74%.

About Ares Commercial Real Estate Corporation

Ares Commercial Real Estate Corporation is a specialty finance company. The Company is primarily engaged in originating and investing in commercial real estate (CRE) loans and related investments. The Company operates through principal lending segment. Its target investments include senior mortgage loans, subordinated debt, preferred equity, mezzanine loans and other CRE investment opportunities, including commercial mortgage-backed securities.

Institutional Ownership by Quarter for Ares Commercial Real Estate Corporation (NYSE:ACRE)

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