Ares Management LLC boosted its stake in Ares Commercial Real Estate Corporation (NYSE:ACRE) by 3.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,386 shares of the real estate investment trust’s stock after buying an additional 1,008 shares during the period. Ares Management LLC owned approximately 0.10% of Ares Commercial Real Estate Corporation worth $384,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ACRE. Edge Wealth Management LLC raised its holdings in Ares Commercial Real Estate Corporation by 900.0% in the 2nd quarter. Edge Wealth Management LLC now owns 10,000 shares of the real estate investment trust’s stock valued at $132,000 after buying an additional 9,000 shares during the period. Tudor Investment Corp ET AL raised its holdings in Ares Commercial Real Estate Corporation by 1.5% in the 1st quarter. Tudor Investment Corp ET AL now owns 10,705 shares of the real estate investment trust’s stock valued at $143,000 after buying an additional 158 shares during the period. ClariVest Asset Management LLC raised its holdings in Ares Commercial Real Estate Corporation by 5.4% in the 1st quarter. ClariVest Asset Management LLC now owns 15,494 shares of the real estate investment trust’s stock valued at $208,000 after buying an additional 791 shares during the period. Citadel Advisors LLC raised its holdings in Ares Commercial Real Estate Corporation by 32.1% in the 2nd quarter. Citadel Advisors LLC now owns 16,324 shares of the real estate investment trust’s stock valued at $214,000 after buying an additional 3,966 shares during the period. Finally, Nationwide Fund Advisors raised its holdings in Ares Commercial Real Estate Corporation by 5.3% in the 2nd quarter. Nationwide Fund Advisors now owns 16,686 shares of the real estate investment trust’s stock valued at $218,000 after buying an additional 839 shares during the period. Hedge funds and other institutional investors own 65.15% of the company’s stock.

Shares of Ares Commercial Real Estate Corporation (NYSE ACRE) traded up 0.6849% during mid-day trading on Thursday, reaching $13.6428. 23,624 shares of the company’s stock were exchanged. Ares Commercial Real Estate Corporation has a 52 week low of $12.24 and a 52 week high of $14.39. The stock has a market cap of $389.60 million, a price-to-earnings ratio of 9.7938 and a beta of 0.69. The stock has a 50 day moving average price of $13.21 and a 200 day moving average price of $13.26.

Ares Commercial Real Estate Corporation (NYSE:ACRE) last issued its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.24. Ares Commercial Real Estate Corporation had a return on equity of 7.07% and a net margin of 45.06%. The firm had revenue of $10.40 million for the quarter, compared to analyst estimates of $10.85 million. During the same period last year, the company earned $0.31 EPS. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. Equities research analysts predict that Ares Commercial Real Estate Corporation will post $1.05 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 7.97%. The ex-dividend date of this dividend is Thursday, September 28th. Ares Commercial Real Estate Corporation’s payout ratio is 77.14%.

Several analysts recently issued reports on the stock. JMP Securities restated an “outperform” rating and issued a $14.50 price objective (down from $15.00) on shares of Ares Commercial Real Estate Corporation in a report on Thursday, August 10th. BidaskClub upgraded shares of Ares Commercial Real Estate Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Keefe, Bruyette & Woods set a $14.00 price objective on shares of Ares Commercial Real Estate Corporation and gave the company a “hold” rating in a report on Thursday, August 17th. Zacks Investment Research lowered shares of Ares Commercial Real Estate Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, Credit Suisse Group restated a “hold” rating on shares of Ares Commercial Real Estate Corporation in a report on Friday, August 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Ares Commercial Real Estate Corporation has an average rating of “Hold” and an average price target of $14.45.

COPYRIGHT VIOLATION WARNING: “Ares Commercial Real Estate Corporation (ACRE) Shares Bought by Ares Management LLC” was reported by Watch List News and is the property of of Watch List News. If you are accessing this news story on another publication, it was illegally copied and reposted in violation of international trademark & copyright laws. The original version of this news story can be read at https://www.watchlistnews.com/ares-commercial-real-estate-corporation-acre-shares-bought-by-ares-management-llc/1610012.html.

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)

Receive News & Ratings for Ares Commercial Real Estate Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Commercial Real Estate Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.