Deutsche Bank AG boosted its stake in shares of Ares Commercial Real (NYSE:ACRE) by 98.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,422 shares of the real estate investment trust’s stock after buying an additional 35,903 shares during the quarter. Deutsche Bank AG owned approximately 0.25% of Ares Commercial Real worth $931,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Edge Wealth Management LLC lifted its holdings in Ares Commercial Real by 40.0% during the 4th quarter. Edge Wealth Management LLC now owns 14,000 shares of the real estate investment trust’s stock worth $181,000 after buying an additional 4,000 shares during the period. Wells Fargo & Company MN lifted its holdings in Ares Commercial Real by 1.5% during the 4th quarter. Wells Fargo & Company MN now owns 400,619 shares of the real estate investment trust’s stock worth $5,168,000 after buying an additional 5,799 shares during the period. Atria Investments LLC acquired a new position in Ares Commercial Real during the 4th quarter worth about $132,000. Cubist Systematic Strategies LLC acquired a new position in shares of Ares Commercial Real in the 3rd quarter valued at about $140,000. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of Ares Commercial Real by 25.7% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 52,652 shares of the real estate investment trust’s stock valued at $680,000 after purchasing an additional 10,752 shares during the period. 63.44% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Ares Commercial Real opened at $13.53 on Wednesday, Marketbeat Ratings reports. The stock has a market capitalization of $384.08 million, a PE ratio of 11.10 and a beta of 0.60. Ares Commercial Real has a 1 year low of $13.40 and a 1 year high of $13.56.
Ares Commercial Real (NYSE:ACRE) last issued its earnings results on Tuesday, May 1st. The real estate investment trust reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. Ares Commercial Real had a return on equity of 8.14% and a net margin of 32.04%. The business had revenue of $27.44 million during the quarter. sell-side analysts predict that Ares Commercial Real will post 1.29 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 17th. Investors of record on Friday, June 29th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 8.28%. The ex-dividend date is Thursday, June 28th. Ares Commercial Real’s payout ratio is 100.90%.
A number of brokerages have recently issued reports on ACRE. Bank of America raised Ares Commercial Real from an “underperform” rating to a “buy” rating in a research note on Wednesday, May 2nd. Zacks Investment Research raised Ares Commercial Real from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Wednesday, March 14th. Finally, ValuEngine downgraded Ares Commercial Real from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $14.13.
In other news, Director William Stephen Benjamin bought 12,715 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The stock was acquired at an average cost of $12.32 per share, with a total value of $156,648.80. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.75% of the company’s stock.
Ares Commercial Real 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, mezzanine loans, real estate preferred equity investments, and other CRE investments.
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