Ares Commercial Real Estate Corporation $ACRE Shares Bought by Alpine Global Management LLC

Alpine Global Management LLC increased its holdings in Ares Commercial Real Estate Corporation (NYSE:ACRE) by 27.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 759,110 shares of the real estate investment trust’s stock after purchasing an additional 165,193 shares during the quarter. Alpine Global Management LLC’s holdings in Ares Commercial Real Estate were worth $3,629,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. LPL Financial LLC raised its holdings in Ares Commercial Real Estate by 8.9% in the 4th quarter. LPL Financial LLC now owns 27,950 shares of the real estate investment trust’s stock worth $134,000 after purchasing an additional 2,284 shares during the period. Private Advisor Group LLC raised its holdings in Ares Commercial Real Estate by 9.0% in the 3rd quarter. Private Advisor Group LLC now owns 41,019 shares of the real estate investment trust’s stock worth $185,000 after purchasing an additional 3,371 shares during the period. HRT Financial LP raised its holdings in Ares Commercial Real Estate by 36.0% in the 4th quarter. HRT Financial LP now owns 16,790 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 4,445 shares during the period. Evoke Wealth LLC raised its holdings in Ares Commercial Real Estate by 2.2% in the 4th quarter. Evoke Wealth LLC now owns 232,262 shares of the real estate investment trust’s stock worth $1,145,000 after purchasing an additional 4,936 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in Ares Commercial Real Estate by 456.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,033 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 4,948 shares during the period. Institutional investors and hedge funds own 41.34% of the company’s stock.

Ares Commercial Real Estate Price Performance

Shares of Ares Commercial Real Estate stock opened at $4.97 on Friday. The business has a 50 day simple moving average of $5.00 and a two-hundred day simple moving average of $5.04. Ares Commercial Real Estate Corporation has a 12 month low of $4.05 and a 12 month high of $5.89. The stock has a market capitalization of $275.46 million, a P/E ratio of -13.79 and a beta of 1.14.

Ares Commercial Real Estate (NYSE:ACRE) last announced its earnings results on Thursday, May 7th. The real estate investment trust reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). Ares Commercial Real Estate had a negative net margin of 37.21% and a negative return on equity of 2.80%. The firm had revenue of $13.46 million for the quarter, compared to analyst estimates of $11.64 million. As a group, research analysts anticipate that Ares Commercial Real Estate Corporation will post 0.4 EPS for the current fiscal year.

Ares Commercial Real Estate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $0.15 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 12.1%. Ares Commercial Real Estate’s dividend payout ratio is -166.67%.

Analyst Ratings Changes

ACRE has been the subject of a number of analyst reports. Zacks Research cut Ares Commercial Real Estate from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 26th. Wall Street Zen cut Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. Weiss Ratings reissued a “sell (d)” rating on shares of Ares Commercial Real Estate in a report on Monday, May 11th. Keefe, Bruyette & Woods reduced their target price on Ares Commercial Real Estate from $6.00 to $5.50 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Finally, UBS Group assumed coverage on Ares Commercial Real Estate in a report on Tuesday, June 2nd. They set a “neutral” rating and a $5.50 target price for the company. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $5.38.

About Ares Commercial Real Estate

Ares Commercial Real Estate Corporation (NYSE: ACRE) is a publicly traded real estate investment trust (REIT) primarily focused on commercial real estate debt investments. Externally managed by an affiliate of Ares Management Corporation, ACRE seeks to generate attractive risk-adjusted returns through its diversified portfolio of CRE financing strategies. The company specializes in originating, acquiring, financing and managing first mortgages, mezzanine loans, preferred equity and other structured finance products.

Since its inception, Ares Commercial Real Estate has targeted a broad range of property types, including multifamily, office, industrial, retail and hospitality assets.