Ares Commercial Real Estate Corp (ACRE) Stake Lessened by Bard Associates Inc.

Bard Associates Inc. lowered its position in shares of Ares Commercial Real Estate Corp (NYSE:ACRE) by 2.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 129,775 shares of the real estate investment trust’s stock after selling 3,700 shares during the quarter. Bard Associates Inc. owned 0.45% of Ares Commercial Real Estate worth $1,792,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in Ares Commercial Real Estate by 3.2% during the second quarter. BlackRock Inc. now owns 2,557,943 shares of the real estate investment trust’s stock valued at $35,325,000 after purchasing an additional 79,639 shares in the last quarter. Boston Partners grew its position in Ares Commercial Real Estate by 2.0% during the second quarter. Boston Partners now owns 2,330,287 shares of the real estate investment trust’s stock valued at $32,181,000 after purchasing an additional 45,603 shares in the last quarter. Telemus Capital LLC grew its position in Ares Commercial Real Estate by 5.2% during the second quarter. Telemus Capital LLC now owns 582,995 shares of the real estate investment trust’s stock valued at $8,051,000 after purchasing an additional 28,870 shares in the last quarter. Acadian Asset Management LLC grew its position in Ares Commercial Real Estate by 194.6% during the second quarter. Acadian Asset Management LLC now owns 450,087 shares of the real estate investment trust’s stock valued at $6,217,000 after purchasing an additional 297,287 shares in the last quarter. Finally, Millennium Management LLC grew its position in Ares Commercial Real Estate by 21.0% during the second quarter. Millennium Management LLC now owns 314,406 shares of the real estate investment trust’s stock valued at $4,342,000 after purchasing an additional 54,543 shares in the last quarter. Institutional investors and hedge funds own 62.75% of the company’s stock.

ACRE stock opened at $14.38 on Friday. The company has a market capitalization of $415.84 million, a price-to-earnings ratio of 12.95 and a beta of 0.54. Ares Commercial Real Estate Corp has a 12 month low of $11.96 and a 12 month high of $14.77.

Ares Commercial Real Estate (NYSE:ACRE) last posted its earnings results on Thursday, July 26th. The real estate investment trust reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.03. The company had revenue of $29.60 million during the quarter, compared to the consensus estimate of $27.30 million. Ares Commercial Real Estate had a net margin of 32.36% and a return on equity of 8.85%. sell-side analysts predict that Ares Commercial Real Estate Corp will post 1.32 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 16th. Shareholders of record on Friday, September 28th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 8.07%. This is an increase from Ares Commercial Real Estate’s previous quarterly dividend of $0.28. The ex-dividend date is Thursday, September 27th. Ares Commercial Real Estate’s payout ratio is currently 100.90%.

A number of research analysts recently commented on ACRE shares. JMP Securities boosted their price objective on shares of Ares Commercial Real Estate from $14.50 to $15.00 and gave the company a “market outperform” rating in a research report on Monday, July 30th. ValuEngine downgraded shares of Ares Commercial Real Estate from a “buy” rating to a “hold” rating in a research report on Friday, June 1st. Raymond James started coverage on shares of Ares Commercial Real Estate in a research report on Monday, July 23rd. They set an “outperform” rating on the stock. JPMorgan Chase & Co. downgraded shares of Ares Commercial Real Estate from an “overweight” rating to a “neutral” rating in a research report on Monday, July 23rd. Finally, Zacks Investment Research downgraded shares of Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a research report on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $14.30.

Ares Commercial Real Estate 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.

See Also: Outstanding Shares

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

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