Ares Commercial Real Estate Corporation (ACRE) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its stake in Ares Commercial Real Estate Corporation (NYSE:ACRE) by 0.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,700 shares of the real estate investment trust’s stock after selling 1 shares during the period. New York State Common Retirement Fund owned 0.09% of Ares Commercial Real Estate Corporation worth $323,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the company. Boston Partners lifted its stake in shares of Ares Commercial Real Estate Corporation by 2.0% in the 2nd quarter. Boston Partners now owns 2,154,350 shares of the real estate investment trust’s stock worth $28,201,000 after acquiring an additional 42,639 shares during the period. Vanguard Group Inc. lifted its stake in shares of Ares Commercial Real Estate Corporation by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 1,188,935 shares of the real estate investment trust’s stock worth $15,908,000 after acquiring an additional 79,338 shares during the period. Telemus Capital LLC lifted its stake in shares of Ares Commercial Real Estate Corporation by 6.5% in the 2nd quarter. Telemus Capital LLC now owns 428,630 shares of the real estate investment trust’s stock worth $5,611,000 after acquiring an additional 26,035 shares during the period. Neuberger Berman Group LLC lifted its stake in shares of Ares Commercial Real Estate Corporation by 0.3% in the 2nd quarter. Neuberger Berman Group LLC now owns 423,005 shares of the real estate investment trust’s stock worth $5,537,000 after acquiring an additional 1,275 shares during the period. Finally, Yorktown Management & Research Co Inc acquired a new stake in shares of Ares Commercial Real Estate Corporation in the 2nd quarter worth approximately $3,011,000. 63.85% of the stock is owned by institutional investors.

A number of research firms recently commented on ACRE. BidaskClub upgraded shares of Ares Commercial Real Estate Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. JMP Securities reiterated an “outperform” rating and issued a $14.50 target price (down from $15.00) on shares of Ares Commercial Real Estate Corporation in a report on Thursday, August 10th. Keefe, Bruyette & Woods set a $14.00 target price on shares of Ares Commercial Real Estate Corporation and gave the stock a “hold” rating in a report on Thursday, August 17th. ValuEngine upgraded shares of Ares Commercial Real Estate Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. Finally, 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. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $14.31.

Shares of Ares Commercial Real Estate Corporation (NYSE ACRE) opened at $13.16 on Friday. Ares Commercial Real Estate Corporation has a fifty-two week low of $12.48 and a fifty-two week high of $14.39. The company has a market cap of $376.24, a P/E ratio of 11.44, a P/E/G ratio of 1.69 and a beta of 0.68.

Ares Commercial Real Estate Corporation (NYSE:ACRE) last released its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.11. Ares Commercial Real Estate Corporation had a net margin of 33.69% and a return on equity of 7.76%. The business had revenue of $28.55 million for the quarter, compared to the consensus estimate of $11.71 million. During the same period in the previous year, the firm earned $0.31 EPS. sell-side analysts expect that Ares Commercial Real Estate Corporation will post 1.11 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors 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 8.21%. Ares Commercial Real Estate Corporation’s payout ratio is currently 94.74%.

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Ares Commercial Real Estate Corporation 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.

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

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