Virtu Financial LLC acquired a new position in shares of Ares Commercial Real Estate Co. (NYSE:ACRE – Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 14,477 shares of the real estate investment trust’s stock, valued at approximately $108,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. increased its stake in Ares Commercial Real Estate by 33.7% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 136,850 shares of the real estate investment trust’s stock worth $1,418,000 after acquiring an additional 34,491 shares during the period. MGO One Seven LLC increased its stake in Ares Commercial Real Estate by 2,609.3% during the 4th quarter. MGO One Seven LLC now owns 570,331 shares of the real estate investment trust’s stock worth $5,909,000 after acquiring an additional 549,280 shares during the period. Relative Value Partners Group LLC increased its stake in Ares Commercial Real Estate by 1.6% during the 4th quarter. Relative Value Partners Group LLC now owns 416,194 shares of the real estate investment trust’s stock worth $4,312,000 after acquiring an additional 6,588 shares during the period. GAMMA Investing LLC bought a new position in Ares Commercial Real Estate during the 4th quarter worth $29,000. Finally, SG Americas Securities LLC increased its stake in Ares Commercial Real Estate by 21.9% during the 4th quarter. SG Americas Securities LLC now owns 29,395 shares of the real estate investment trust’s stock worth $305,000 after acquiring an additional 5,286 shares during the period. Institutional investors own 41.34% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on ACRE shares. JPMorgan Chase & Co. decreased their price target on Ares Commercial Real Estate from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 10th. BTIG Research reiterated a “neutral” rating on shares of Ares Commercial Real Estate in a research note on Friday, July 19th. StockNews.com lowered Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a research note on Monday, May 27th. Finally, Keefe, Bruyette & Woods decreased their price target on Ares Commercial Real Estate from $7.50 to $7.00 and set a “market perform” rating on the stock in a research note on Friday, May 10th. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $7.80.
View Our Latest Research Report on Ares Commercial Real Estate
Ares Commercial Real Estate Trading Down 3.0 %
Shares of ACRE stock opened at $6.75 on Wednesday. The firm has a market capitalization of $367.92 million, a P/E ratio of -8.13 and a beta of 1.46. Ares Commercial Real Estate Co. has a twelve month low of $6.36 and a twelve month high of $11.24. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 2.29. The stock’s fifty day simple moving average is $7.16 and its 200 day simple moving average is $7.48.
Ares Commercial Real Estate (NYSE:ACRE – Get Free Report) last issued its quarterly earnings data on Thursday, May 9th. The real estate investment trust reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.34). The firm had revenue of $18.69 million for the quarter, compared to the consensus estimate of $43.77 million. Ares Commercial Real Estate had a positive return on equity of 0.84% and a negative net margin of 54.60%. During the same quarter in the prior year, the firm earned $0.26 EPS. As a group, sell-side analysts predict that Ares Commercial Real Estate Co. will post -0.3 EPS for the current fiscal year.
Ares Commercial Real Estate Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 16th. Shareholders of record on Friday, June 28th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 14.81%. The ex-dividend date of this dividend was Friday, June 28th. Ares Commercial Real Estate’s payout ratio is presently -120.48%.
About Ares Commercial Real Estate
Ares Commercial Real Estate Corporation, a specialty finance company, originates and invests in commercial real estate (CRE) loans and related investments in the United States. It provides a range of financing solutions for the owners, operators, and sponsors of CRE properties. The company originates senior mortgage loans, subordinate debt and preferred equity products, mezzanine loans, and other CRE investments, including commercial mortgage-backed securities.
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