Nisa Investment Advisors LLC grew its holdings in shares of Ares Commercial Real Estate Corp (NYSE:ACRE) by 33.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,360 shares of the real estate investment trust’s stock after purchasing an additional 5,825 shares during the period. Nisa Investment Advisors LLC owned about 0.08% of Ares Commercial Real Estate worth $347,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the business. PNC Financial Services Group Inc. purchased a new stake in shares of Ares Commercial Real Estate during the first quarter worth approximately $36,000. Catalyst Capital Advisors LLC acquired a new position in Ares Commercial Real Estate in the first quarter valued at approximately $36,000. Marshall Wace North America L.P. acquired a new position in Ares Commercial Real Estate in the first quarter valued at approximately $77,000. Advisor Group Inc. acquired a new position in Ares Commercial Real Estate in the fourth quarter valued at approximately $69,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in Ares Commercial Real Estate by 216.8% in the first quarter. BNP Paribas Arbitrage SA now owns 5,578 shares of the real estate investment trust’s stock valued at $85,000 after purchasing an additional 3,817 shares in the last quarter. Institutional investors own 67.61% of the company’s stock.
Separately, Zacks Investment Research raised Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a report on Monday, July 8th. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $15.25.
Ares Commercial Real Estate (NYSE:ACRE) last issued its earnings results on Friday, July 26th. The real estate investment trust reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.04. The company had revenue of $29.99 million for the quarter, compared to analyst estimates of $27.80 million. Ares Commercial Real Estate had a return on equity of 9.29% and a net margin of 32.10%. On average, sell-side analysts predict that Ares Commercial Real Estate Corp will post 1.32 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 8.80%. The ex-dividend date of this dividend is Friday, September 27th. Ares Commercial Real Estate’s dividend payout ratio is 94.96%.
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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