Van ECK Associates Corp Increases Position in Ares Commercial Real Estate Co. (NYSE:ACRE)

Van ECK Associates Corp lifted its position in Ares Commercial Real Estate Co. (NYSE:ACRE) by 26.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 524,694 shares of the real estate investment trust’s stock after purchasing an additional 111,194 shares during the period. Van ECK Associates Corp owned about 0.96% of Ares Commercial Real Estate worth $3,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Ameritas Advisory Services LLC purchased a new stake in shares of Ares Commercial Real Estate in the second quarter worth $68,000. Access Investment Management LLC grew its stake in Ares Commercial Real Estate by 15.5% during the second quarter. Access Investment Management LLC now owns 85,700 shares of the real estate investment trust’s stock valued at $570,000 after acquiring an additional 11,500 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Ares Commercial Real Estate by 10.5% during the second 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 acquiring an additional 19,626 shares in the last quarter. Curated Wealth Partners LLC grew its stake in Ares Commercial Real Estate by 200.0% during the second quarter. Curated Wealth Partners LLC now owns 20,000 shares of the real estate investment trust’s stock valued at $133,000 after acquiring an additional 40,000 shares in the last quarter. Finally, Bright Futures Wealth Management LLC. purchased a new position in Ares Commercial Real Estate during the first quarter valued at $630,000. 41.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods cut their target price on shares of Ares Commercial Real Estate from $7.50 to $7.00 and set a “market perform” rating for the company in a research note on Friday, May 10th. BTIG Research reaffirmed a “neutral” rating on shares of Ares Commercial Real Estate in a research note on Friday, July 19th. Finally, StockNews.com lowered shares of Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, Ares Commercial Real Estate has a consensus rating of “Hold” and an average price target of $7.80.

Ares Commercial Real Estate Price Performance

Ares Commercial Real Estate stock opened at $6.94 on Thursday. The firm has a 50-day moving average price of $7.11 and a 200-day moving average price of $7.13. The firm has a market capitalization of $378.28 million, a PE ratio of -8.36 and a beta of 1.46. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.32. Ares Commercial Real Estate Co. has a 12-month low of $6.36 and a 12-month high of $11.24.

Ares Commercial Real Estate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.25 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 14.41%. Ares Commercial Real Estate’s dividend payout ratio (DPR) is presently -120.48%.

Ares Commercial Real Estate Company 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.