Cambridge Investment Research Advisors Inc. bought a new position in Ares Commercial Real (NYSE:ACRE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 23,250 shares of the real estate investment trust’s stock, valued at approximately $300,000. Cambridge Investment Research Advisors Inc. owned about 0.08% of Ares Commercial Real as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in Ares Commercial Real during the third quarter worth approximately $103,000. Atria Investments LLC purchased a new position in Ares Commercial Real during the fourth quarter worth approximately $132,000. Cubist Systematic Strategies LLC purchased a new position in Ares Commercial Real during the third quarter worth approximately $140,000. MetLife Investment Advisors LLC purchased a new position in Ares Commercial Real during the fourth quarter worth approximately $148,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in Ares Commercial Real during the fourth quarter worth approximately $178,000. Hedge funds and other institutional investors own 63.98% of the company’s stock.
Separately, Zacks Investment Research downgraded Ares Commercial Real from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $14.13.
In other news, Director William Stephen Benjamin bought 12,715 shares of the firm’s stock in a transaction dated Wednesday, March 7th. The shares were acquired at an average price of $12.32 per share, for a total transaction of $156,648.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.75% of the company’s stock.
NYSE ACRE opened at $12.36 on Tuesday. The company has a market capitalization of $351.48, a PE ratio of 11.14 and a beta of 0.59. Ares Commercial Real has a 1-year low of $11.96 and a 1-year high of $14.22.
Ares Commercial Real (NYSE:ACRE) last released its earnings results on Thursday, March 1st. The real estate investment trust reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. The business had revenue of $25.22 million for the quarter, compared to the consensus estimate of $11.35 million. Ares Commercial Real had a return on equity of 7.54% and a net margin of 31.17%. During the same quarter last year, the business posted $0.28 earnings per share. sell-side analysts expect that Ares Commercial Real will post 1.24 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 17th. Stockholders of record on Thursday, March 29th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 9.06%. The ex-dividend date is Wednesday, March 28th. This is an increase from Ares Commercial Real’s previous quarterly dividend of $0.27. Ares Commercial Real’s dividend payout ratio (DPR) is 100.90%.
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Ares Commercial Real Company Profile
Ares Commercial Real Estate Corporation, a specialty finance company, originates and invests in commercial real estate loans and related investments in the United States. It provides a range of financing solutions for the owners, operators, and sponsors of commercial real estate (CRE) properties. The company originates senior mortgage loans, subordinate debt products, mezzanine loans, real estate preferred equity investments, and other CRE investments.
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