Institute for Wealth Management LLC. Reduces Stock Holdings in Ares Commercial Real Estate Corporation $ACRE

Institute for Wealth Management LLC. decreased its position in Ares Commercial Real Estate Corporation (NYSE:ACRE) by 21.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,244 shares of the real estate investment trust’s stock after selling 3,000 shares during the period. Institute for Wealth Management LLC.’s holdings in Ares Commercial Real Estate were worth $54,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Nuveen LLC purchased a new position in Ares Commercial Real Estate in the first quarter valued at approximately $554,000. Delphi Financial Group Inc. purchased a new position in Ares Commercial Real Estate in the first quarter valued at approximately $995,000. Victory Capital Management Inc. lifted its stake in Ares Commercial Real Estate by 2.7% in the first quarter. Victory Capital Management Inc. now owns 124,250 shares of the real estate investment trust’s stock valued at $575,000 after purchasing an additional 3,250 shares during the last quarter. Cura Wealth Advisors LLC lifted its stake in Ares Commercial Real Estate by 32.1% in the first quarter. Cura Wealth Advisors LLC now owns 963,485 shares of the real estate investment trust’s stock valued at $4,461,000 after purchasing an additional 234,258 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of Ares Commercial Real Estate by 220.8% during the fourth quarter. Two Sigma Advisers LP now owns 85,000 shares of the real estate investment trust’s stock worth $501,000 after acquiring an additional 58,500 shares in the last quarter. Hedge funds and other institutional investors own 41.34% of the company’s stock.

Ares Commercial Real Estate Stock Performance

Shares of ACRE stock opened at $4.60 on Friday. Ares Commercial Real Estate Corporation has a 52-week low of $3.35 and a 52-week high of $7.49. The company has a market capitalization of $252.75 million, a PE ratio of -13.51 and a beta of 1.32. The business’s fifty day moving average is $4.63 and its 200 day moving average is $4.55.

Ares Commercial Real Estate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 13.1%. The ex-dividend date is Tuesday, September 30th. Ares Commercial Real Estate’s dividend payout ratio (DPR) is -176.47%.

Analyst Ratings Changes

Several research firms have issued reports on ACRE. Wall Street Zen downgraded Ares Commercial Real Estate from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 9th. Zacks Research upgraded Ares Commercial Real Estate to a “hold” rating in a research report on Monday, August 11th. Keefe, Bruyette & Woods dropped their target price on Ares Commercial Real Estate from $4.80 to $4.25 and set a “market perform” rating on the stock in a research report on Wednesday, August 6th. Finally, UBS Group dropped their target price on Ares Commercial Real Estate from $5.00 to $4.50 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $4.75.

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.