Ares Commercial Real Estate Corp (ACRE) Holdings Reduced by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its position in Ares Commercial Real Estate Corp (NYSE:ACRE) by 11.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 148,630 shares of the real estate investment trust’s stock after selling 18,942 shares during the period. Thrivent Financial for Lutherans owned about 0.52% of Ares Commercial Real Estate worth $1,938,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. raised its holdings in shares of Ares Commercial Real Estate by 386.6% during the 4th quarter. Meeder Asset Management Inc. now owns 3,917 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 3,112 shares in the last quarter. Advisor Group Inc. bought a new position in shares of Ares Commercial Real Estate during the 4th quarter valued at $69,000. Metropolitan Life Insurance Co. NY raised its holdings in shares of Ares Commercial Real Estate by 431.5% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,614 shares of the real estate investment trust’s stock valued at $125,000 after purchasing an additional 7,805 shares in the last quarter. LPL Financial LLC bought a new position in shares of Ares Commercial Real Estate during the 4th quarter valued at $143,000. Finally, SG Americas Securities LLC raised its holdings in Ares Commercial Real Estate by 50.0% in the 3rd quarter. SG Americas Securities LLC now owns 10,903 shares of the real estate investment trust’s stock worth $152,000 after acquiring an additional 3,634 shares during the period. 64.66% of the stock is owned by hedge funds and other institutional investors.

Several brokerages recently commented on ACRE. ValuEngine upgraded shares of Ares Commercial Real Estate from a “hold” rating to a “buy” rating in a report on Thursday, February 28th. Zacks Investment Research upgraded shares of Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a report on Tuesday, February 26th. Finally, Raymond James upgraded shares of Ares Commercial Real Estate from an “outperform” rating to a “strong-buy” rating in a report on Friday, January 11th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Ares Commercial Real Estate presently has a consensus rating of “Buy” and a consensus target price of $15.00.

In other Ares Commercial Real Estate news, Director William Stephen Benjamin bought 3,300 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average cost of $15.16 per share, for a total transaction of $50,028.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Rand Scott April purchased 9,730 shares of Ares Commercial Real Estate stock in a transaction on Wednesday, March 13th. The stock was purchased at an average price of $15.42 per share, for a total transaction of $150,036.60. The disclosure for this purchase can be found here. 2.21% of the stock is currently owned by insiders.

Shares of NYSE:ACRE traded down $0.08 on Wednesday, hitting $15.29. 138,400 shares of the company were exchanged, compared to its average volume of 206,333. Ares Commercial Real Estate Corp has a one year low of $12.08 and a one year high of $15.53. The company has a market cap of $441.69 million, a price-to-earnings ratio of 11.00 and a beta of 0.61.

Ares Commercial Real Estate (NYSE:ACRE) last posted its quarterly earnings data on Thursday, February 21st. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.06. Ares Commercial Real Estate had a net margin of 32.63% and a return on equity of 9.39%. The company had revenue of $30.88 million for the quarter, compared to the consensus estimate of $29.00 million. As a group, research analysts forecast that Ares Commercial Real Estate Corp will post 1.36 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Friday, March 29th were given a dividend of $0.33 per share. This is a positive change from Ares Commercial Real Estate’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a dividend yield of 8.63%. The ex-dividend date was Thursday, March 28th. Ares Commercial Real Estate’s payout ratio is 94.96%.

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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, real estate preferred equity investments, mezzanine loans, and other CRE investments.

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

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