Ares Commercial Real Estate Co. (NYSE:ACRE) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its position in shares of Ares Commercial Real Estate Co. (NYSE:ACRE) by 4.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,093 shares of the real estate investment trust’s stock after purchasing an additional 3,593 shares during the period. Victory Capital Management Inc. owned approximately 0.16% of Ares Commercial Real Estate worth $617,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ACRE. Vanguard Group Inc. boosted its position in Ares Commercial Real Estate by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 2,783,379 shares of the real estate investment trust’s stock valued at $20,736,000 after buying an additional 34,611 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Ares Commercial Real Estate by 26.9% in the second quarter. Van ECK Associates Corp now owns 524,694 shares of the real estate investment trust’s stock valued at $3,489,000 after purchasing an additional 111,194 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Ares Commercial Real Estate by 10.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 206,143 shares of the real estate investment trust’s stock valued at $1,371,000 after purchasing an additional 19,626 shares in the last quarter. Prevail Innovative Wealth Advisors LLC purchased a new stake in Ares Commercial Real Estate during the 2nd quarter worth approximately $894,000. Finally, Bright Futures Wealth Management LLC. raised its position in shares of Ares Commercial Real Estate by 11.2% in the 2nd quarter. Bright Futures Wealth Management LLC. now owns 93,962 shares of the real estate investment trust’s stock valued at $625,000 after purchasing an additional 9,464 shares in the last quarter. 41.34% of the stock is owned by institutional investors and hedge funds.

Ares Commercial Real Estate Stock Up 1.0 %

ACRE stock opened at $7.29 on Friday. The firm has a fifty day moving average price of $6.85 and a two-hundred day moving average price of $6.99. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.87 and a quick ratio of 0.87. Ares Commercial Real Estate Co. has a 1-year low of $6.25 and a 1-year high of $11.24. The firm has a market cap of $397.60 million, a price-to-earnings ratio of -6.18 and a beta of 1.46.

Ares Commercial Real Estate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 13.72%. Ares Commercial Real Estate’s dividend payout ratio (DPR) is -84.75%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Ares Commercial Real Estate from $7.00 to $6.50 and set a “neutral” rating for the company in a research report on Thursday, October 17th. Wells Fargo & Company lowered shares of Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $7.50 to $7.00 in a report on Friday, September 20th. Finally, StockNews.com lowered shares of Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.10.

Ares Commercial Real Estate Profile

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.