Truist Financial Corp Buys 26,170 Shares of Ares Commercial Real Estate Co. (NYSE:ACRE)

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Truist Financial Corp boosted its stake in shares of Ares Commercial Real Estate Co. (NYSE:ACREGet Rating) by 261.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,170 shares of the real estate investment trust’s stock after purchasing an additional 26,170 shares during the period. Truist Financial Corp’s holdings in Ares Commercial Real Estate were worth $561,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Selective Wealth Management Inc. bought a new position in Ares Commercial Real Estate in the first quarter worth approximately $53,000. GSA Capital Partners LLP bought a new position in Ares Commercial Real Estate in the fourth quarter worth approximately $192,000. BNP Paribas Arbitrage SA raised its position in Ares Commercial Real Estate by 48.5% in the fourth quarter. BNP Paribas Arbitrage SA now owns 19,032 shares of the real estate investment trust’s stock worth $277,000 after acquiring an additional 6,216 shares during the period. Roosevelt Investment Group LLC bought a new position in Ares Commercial Real Estate in the fourth quarter worth approximately $291,000. Finally, Greenwich Investment Management Inc. bought a new position in Ares Commercial Real Estate in the fourth quarter worth approximately $362,000. Institutional investors own 46.66% of the company’s stock.

Analyst Upgrades and Downgrades

ACRE has been the topic of several recent analyst reports. Credit Suisse Group decreased their price objective on shares of Ares Commercial Real Estate to $14.50 in a research report on Friday, July 22nd. StockNews.com initiated coverage on shares of Ares Commercial Real Estate in a research report on Thursday, March 31st. They set a “hold” rating on the stock. JPMorgan Chase & Co. raised their price objective on shares of Ares Commercial Real Estate from $14.50 to $16.00 and gave the company a “neutral” rating in a research report on Monday, April 25th. Finally, JMP Securities restated a “buy” rating and set a $16.50 price objective on shares of Ares Commercial Real Estate in a research report on Tuesday, May 24th.

Ares Commercial Real Estate Stock Performance

ACRE opened at $13.16 on Wednesday. The stock has a market capitalization of $624.28 million, a price-to-earnings ratio of 9.82 and a beta of 1.23. The company has a fifty day moving average of $13.16 and a 200 day moving average of $14.36. Ares Commercial Real Estate Co. has a fifty-two week low of $11.18 and a fifty-two week high of $16.48. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.61 and a current ratio of 0.61.

Ares Commercial Real Estate (NYSE:ACREGet Rating) last posted its earnings results on Tuesday, May 3rd. The real estate investment trust reported $0.34 earnings per share 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 previous year, the firm earned $0.38 EPS. As a group, sell-side analysts forecast that Ares Commercial Real Estate Co. will post 1.38 earnings per share for the current fiscal year.

Ares Commercial Real Estate Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were paid a $0.35 dividend. This is a boost from Ares Commercial Real Estate’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a dividend yield of 10.64%. The ex-dividend date was Wednesday, June 29th. Ares Commercial Real Estate’s dividend payout ratio (DPR) is presently 98.51%.

About Ares Commercial Real Estate

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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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