Vanguard Group Inc. raised its stake in Ares Commercial Real Estate Co. (NYSE:ACRE – Free Report) by 1.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,783,379 shares of the real estate investment trust’s stock after acquiring an additional 34,611 shares during the quarter. Vanguard Group Inc. owned approximately 5.11% of Ares Commercial Real Estate worth $20,736,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of ACRE. MGO One Seven LLC raised its stake in shares of Ares Commercial Real Estate by 2,609.3% during the 4th quarter. MGO One Seven LLC now owns 570,331 shares of the real estate investment trust’s stock worth $5,909,000 after buying an additional 549,280 shares during the period. Access Investment Management LLC acquired a new position in shares of Ares Commercial Real Estate during the 4th quarter worth approximately $1,237,000. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Ares Commercial Real Estate by 67.8% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 257,235 shares of the real estate investment trust’s stock worth $1,916,000 after buying an additional 103,902 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Ares Commercial Real Estate by 11.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 790,404 shares of the real estate investment trust’s stock worth $5,889,000 after buying an additional 81,534 shares during the period. Finally, Quest Partners LLC acquired a new position in shares of Ares Commercial Real Estate during the 4th quarter worth approximately $676,000. 41.34% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several analysts recently commented on ACRE shares. BTIG Research reiterated a “neutral” rating on shares of Ares Commercial Real Estate in a research report on Friday, July 19th. Keefe, Bruyette & Woods dropped their price target on Ares Commercial Real Estate from $7.50 to $7.00 and set a “market perform” rating for the company in a research report on Friday, May 10th. Finally, StockNews.com upgraded Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat, Ares Commercial Real Estate has an average rating of “Hold” and a consensus target price of $7.80.
Read Our Latest Analysis on Ares Commercial Real Estate
Ares Commercial Real Estate Stock Down 0.9 %
Shares of NYSE:ACRE opened at $6.79 on Monday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 2.29. The business has a fifty day moving average of $7.16 and a two-hundred day moving average of $7.41. The stock has a market cap of $370.10 million, a P/E ratio of -8.18 and a beta of 1.46. Ares Commercial Real Estate Co. has a 52-week low of $6.36 and a 52-week high of $11.24.
Ares Commercial Real Estate (NYSE:ACRE – Get Free Report) last issued its earnings results on Thursday, May 9th. The real estate investment trust reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.34). The company had revenue of $18.69 million during the quarter, compared to analysts’ expectations of $43.77 million. Ares Commercial Real Estate had a negative net margin of 54.60% and a positive return on equity of 0.84%. During the same quarter in the previous year, the company earned $0.26 earnings per share. On average, research analysts expect that Ares Commercial Real Estate Co. will post -0.3 earnings per share for the current year.
Ares Commercial Real Estate Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 14.73%. The ex-dividend date is Monday, September 30th. Ares Commercial Real Estate’s dividend payout ratio (DPR) is presently -120.48%.
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.
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