Neuberger Berman Group LLC Acquires 1,275 Shares of Ares Commercial Real Estate Corporation (ACRE)

Neuberger Berman Group LLC raised its holdings in Ares Commercial Real Estate Corporation (NYSE:ACRE) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 423,005 shares of the real estate investment trust’s stock after buying an additional 1,275 shares during the period. Neuberger Berman Group LLC owned about 1.49% of Ares Commercial Real Estate Corporation worth $5,537,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ACRE. LSV Asset Management raised its holdings in shares of Ares Commercial Real Estate Corporation by 15.1% in the first quarter. LSV Asset Management now owns 117,700 shares of the real estate investment trust’s stock valued at $1,574,000 after purchasing an additional 15,400 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Ares Commercial Real Estate Corporation by 8.6% in the first quarter. Bank of New York Mellon Corp now owns 123,793 shares of the real estate investment trust’s stock valued at $1,656,000 after purchasing an additional 9,833 shares during the last quarter. Karp Capital Management Corp purchased a new stake in shares of Ares Commercial Real Estate Corporation in the first quarter valued at about $277,000. TFS Capital LLC purchased a new stake in shares of Ares Commercial Real Estate Corporation in the first quarter valued at about $227,000. Finally, Hancock Holding Co. raised its holdings in shares of Ares Commercial Real Estate Corporation by 26.0% in the first quarter. Hancock Holding Co. now owns 13,162 shares of the real estate investment trust’s stock valued at $176,000 after purchasing an additional 2,713 shares during the last quarter. 65.15% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of Ares Commercial Real Estate Corporation (NYSE:ACRE) opened at 13.10 on Tuesday. Ares Commercial Real Estate Corporation has a one year low of $12.13 and a one year high of $14.39. The stock has a market cap of $374.10 million, a P/E ratio of 9.40 and a beta of 0.68. The stock has a 50 day moving average of $13.12 and a 200 day moving average of $13.26.

Ares Commercial Real Estate Corporation (NYSE:ACRE) last announced its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.24. The company had revenue of $10.40 million for the quarter, compared to analysts’ expectations of $10.85 million. Ares Commercial Real Estate Corporation had a net margin of 45.06% and a return on equity of 7.07%. Ares Commercial Real Estate Corporation’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.31 EPS. On average, analysts forecast that Ares Commercial Real Estate Corporation will post $1.05 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 8.24%. The ex-dividend date of this dividend is Thursday, September 28th. Ares Commercial Real Estate Corporation’s dividend payout ratio is currently 77.14%.

Several brokerages have recently commented on ACRE. JMP Securities increased their target price on shares of Ares Commercial Real Estate Corporation to $14.00 and gave the company a “market outperform” rating in a report on Monday, August 7th. Zacks Investment Research downgraded shares of Ares Commercial Real Estate Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. 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 reiterated a “hold” rating and issued a $13.75 target price on shares of Ares Commercial Real Estate Corporation in a report on Friday, June 9th. Finally, Credit Suisse Group reiterated 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 given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $14.45.

Ares Commercial Real Estate Corporation Company Profile

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.

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

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