Access Investment Management LLC Takes Position in Ares Commercial Real Estate Corporation $ACRE

Access Investment Management LLC bought a new position in shares of Ares Commercial Real Estate Corporation (NYSE:ACRE) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 85,700 shares of the real estate investment trust’s stock, valued at approximately $409,000. Access Investment Management LLC owned 0.16% of Ares Commercial Real Estate at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ACRE. CWM LLC increased its stake in shares of Ares Commercial Real Estate by 94.3% during the 2nd quarter. CWM LLC now owns 6,997 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 3,396 shares during the last quarter. Strs Ohio acquired a new position in shares of Ares Commercial Real Estate in the 1st quarter valued at $47,000. EntryPoint Capital LLC purchased a new stake in shares of Ares Commercial Real Estate during the 1st quarter valued at $92,000. Voya Investment Management LLC increased its holdings in shares of Ares Commercial Real Estate by 21.8% during the 1st quarter. Voya Investment Management LLC now owns 24,105 shares of the real estate investment trust’s stock worth $112,000 after buying an additional 4,309 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of Ares Commercial Real Estate by 51.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 24,424 shares of the real estate investment trust’s stock worth $117,000 after buying an additional 8,323 shares during the period. Hedge funds and other institutional investors own 41.34% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on ACRE. Zacks Research raised Ares Commercial Real Estate to a “hold” rating in a research report on Monday, August 11th. Keefe, Bruyette & Woods increased their target price on shares of Ares Commercial Real Estate from $4.25 to $4.50 and gave the stock a “market perform” rating in a research report on Thursday, October 9th. Wall Street Zen downgraded shares of Ares Commercial Real Estate from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 9th. Weiss Ratings reissued a “sell (d)” rating on shares of Ares Commercial Real Estate in a research report on Wednesday, October 8th. Finally, UBS Group cut their price objective on shares of Ares Commercial Real Estate from $5.00 to $4.50 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Five equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $4.83.

Ares Commercial Real Estate Stock Performance

NYSE:ACRE opened at $4.48 on Monday. The company has a market capitalization of $246.15 million, a price-to-earnings ratio of -13.16 and a beta of 1.32. Ares Commercial Real Estate Corporation has a one year low of $3.35 and a one year high of $7.49. The stock has a 50-day simple moving average of $4.68 and a 200 day simple moving average of $4.60.

Ares Commercial Real Estate Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 13.4%. The ex-dividend date of this dividend was Tuesday, September 30th. Ares Commercial Real Estate’s dividend payout ratio is currently -176.47%.

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.