Two Sigma Investments LP grew its stake in Ares Commercial Real Estate Corp (NYSE:ACRE) by 15.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 105,225 shares of the real estate investment trust’s stock after buying an additional 13,748 shares during the period. Two Sigma Investments LP owned 0.37% of Ares Commercial Real Estate worth $1,372,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. acquired a new position in shares of Ares Commercial Real Estate during the fourth quarter valued at $249,000. Nomura Holdings Inc. boosted its holdings in shares of Ares Commercial Real Estate by 7.5% during the fourth quarter. Nomura Holdings Inc. now owns 497,559 shares of the real estate investment trust’s stock valued at $6,493,000 after acquiring an additional 34,926 shares during the period. Geode Capital Management LLC lifted its holdings in Ares Commercial Real Estate by 7.5% in the fourth quarter. Geode Capital Management LLC now owns 307,239 shares of the real estate investment trust’s stock worth $4,006,000 after purchasing an additional 21,537 shares during the period. Bessemer Group Inc. lifted its holdings in Ares Commercial Real Estate by 58.5% in the fourth quarter. Bessemer Group Inc. now owns 65,000 shares of the real estate investment trust’s stock worth $848,000 after purchasing an additional 24,000 shares during the period. Finally, Northern Trust Corp lifted its holdings in Ares Commercial Real Estate by 2.1% in the fourth quarter. Northern Trust Corp now owns 322,485 shares of the real estate investment trust’s stock worth $4,205,000 after purchasing an additional 6,622 shares during the period. Institutional investors and hedge funds own 64.66% of the company’s stock.
Several equities research analysts recently weighed in on the stock. ValuEngine raised shares of Ares Commercial Real Estate from a “hold” rating to a “buy” rating in a report on Thursday, February 28th. Zacks Investment Research raised shares of Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a report on Tuesday, February 26th. Finally, Raymond James raised 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 issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $15.00.
Shares of NYSE ACRE opened at $15.18 on Friday. Ares Commercial Real Estate Corp has a twelve month low of $12.13 and a twelve month high of $15.53. The stock has a market capitalization of $436.52 million, a price-to-earnings ratio of 10.92 and a beta of 0.61.
Ares Commercial Real Estate (NYSE:ACRE) last issued its quarterly earnings results on Thursday, February 21st. The real estate investment trust reported $0.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.06. The company had revenue of $30.88 million during the quarter, compared to the consensus estimate of $29.00 million. Ares Commercial Real Estate had a net margin of 32.63% and a return on equity of 9.39%. Equities research analysts anticipate that Ares Commercial Real Estate Corp will post 1.36 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Friday, March 29th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 8.70%. The ex-dividend date of this dividend was Thursday, March 28th. This is an increase from Ares Commercial Real Estate’s previous quarterly dividend of $0.31. Ares Commercial Real Estate’s payout ratio is presently 94.96%.
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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, real estate preferred equity investments, mezzanine loans, and other CRE investments.
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