Ares Commercial Real Estate Corp (ACRE) Stake Boosted by MetLife Investment Advisors LLC

MetLife Investment Advisors LLC raised its stake in Ares Commercial Real Estate Corp (NYSE:ACRE) by 68.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,243 shares of the real estate investment trust’s stock after buying an additional 7,805 shares during the quarter. MetLife Investment Advisors LLC owned 0.07% of Ares Commercial Real Estate worth $269,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in ACRE. Renaissance Technologies LLC bought a new position in Ares Commercial Real Estate in the second quarter valued at approximately $603,000. Citadel Advisors LLC lifted its position in shares of Ares Commercial Real Estate by 78.7% in the third quarter. Citadel Advisors LLC now owns 54,797 shares of the real estate investment trust’s stock valued at $765,000 after buying an additional 24,141 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of Ares Commercial Real Estate by 12.2% in the third quarter. Prudential Financial Inc. now owns 34,710 shares of the real estate investment trust’s stock valued at $485,000 after buying an additional 3,780 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in Ares Commercial Real Estate by 332.7% during the 3rd quarter. Allianz Asset Management GmbH now owns 133,091 shares of the real estate investment trust’s stock worth $1,859,000 after purchasing an additional 102,336 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Ares Commercial Real Estate by 189.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 33,804 shares of the real estate investment trust’s stock worth $472,000 after purchasing an additional 22,137 shares during the last quarter. 63.48% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms recently weighed in on ACRE. Zacks Investment Research raised Ares Commercial Real Estate from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Thursday, November 1st. JPMorgan Chase & Co. raised their price objective on Ares Commercial Real Estate from $14.00 to $14.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 24th. Finally, Raymond James upgraded Ares Commercial Real Estate from an “outperform” rating to a “strong-buy” rating in a research note on Friday, January 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $14.83.

In other Ares Commercial Real Estate news, insider James Alan Henderson sold 13,618 shares of Ares Commercial Real Estate stock in a transaction dated Wednesday, December 12th. The stock was sold at an average price of $14.23, for a total transaction of $193,784.14. Following the transaction, the insider now directly owns 108,092 shares of the company’s stock, valued at approximately $1,538,149.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.03% of the stock is currently owned by insiders.

Shares of ACRE stock opened at $14.17 on Thursday. The firm has a market cap of $404.37 million, a P/E ratio of 12.77 and a beta of 0.59. Ares Commercial Real Estate Corp has a twelve month low of $12.08 and a twelve month high of $14.77.

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About Ares Commercial Real Estate

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

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