Belpointe Asset Management LLC bought a new position in shares of Ares Commercial Real Estate Co. (NYSE:ACRE – Get Rating) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 12,450 shares of the real estate investment trust’s stock, valued at approximately $193,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of ACRE. Selective Wealth Management Inc. acquired a new stake in shares of Ares Commercial Real Estate during the first quarter worth $53,000. GSA Capital Partners LLP acquired a new stake in shares of Ares Commercial Real Estate during the fourth quarter worth $192,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Ares Commercial Real Estate by 48.5% during the fourth quarter. BNP Paribas Arbitrage SA now owns 19,032 shares of the real estate investment trust’s stock worth $277,000 after buying an additional 6,216 shares in the last quarter. Roosevelt Investment Group LLC acquired a new stake in shares of Ares Commercial Real Estate during the fourth quarter worth $291,000. Finally, Greenwich Investment Management Inc. acquired a new stake in shares of Ares Commercial Real Estate during the fourth quarter worth $362,000. Institutional investors and hedge funds own 46.66% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on ACRE shares. JPMorgan Chase & Co. raised their price target on Ares Commercial Real Estate from $14.50 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, April 25th. StockNews.com started coverage on Ares Commercial Real Estate in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, JMP Securities restated a “buy” rating and issued a $16.50 price target on shares of Ares Commercial Real Estate in a research report on Tuesday, May 24th.
Ares Commercial Real Estate Stock Down 0.2 %
Shares of NYSE ACRE opened at $12.99 on Friday. Ares Commercial Real Estate Co. has a 1 year low of $11.18 and a 1 year high of $16.48. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.61 and a quick ratio of 0.61. The firm has a market cap of $616.22 million, a PE ratio of 9.69 and a beta of 1.23. The company has a 50 day simple moving average of $13.29 and a 200 day simple moving average of $14.39.
Ares Commercial Real Estate (NYSE:ACRE – Get Rating) last released its quarterly earnings results on Tuesday, May 3rd. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02). Ares Commercial Real Estate had a net margin of 58.09% and a return on equity of 9.74%. During the same quarter in the prior year, the company posted $0.38 EPS. On average, research analysts forecast that Ares Commercial Real Estate Co. will post 1.38 EPS for the current year.
Ares Commercial Real Estate Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were paid a dividend of $0.35 per share. The ex-dividend date was Wednesday, June 29th. This represents a $1.40 annualized dividend and a dividend yield of 10.78%. This is an increase from Ares Commercial Real Estate’s previous quarterly dividend of $0.33. Ares Commercial Real Estate’s dividend payout ratio (DPR) is presently 98.51%.
Ares Commercial Real Estate Company 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. The company provides a range of financing solutions for the owners, operators, and sponsors of CRE properties. It originates senior mortgage loans, subordinate debt products, mezzanine loans, real estate preferred equity investments, and other CRE investments, including commercial mortgage backed securities.
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