Yorktown Management & Research Co Inc increased its position in shares of Ares Commercial Real Estate Corporation (NYSE:ACRE) by 9.1% during the third quarter, Holdings Channel reports. The institutional investor owned 60,000 shares of the company’s stock after buying an additional 5,000 shares during the period. Yorktown Management & Research Co Inc owned approximately 0.21% of Ares Commercial Real Estate Corporation worth $756,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in Ares Commercial Real Estate Corporation by 9.0% in the second quarter. Bank of New York Mellon Corp now owns 105,926 shares of the company’s stock worth $1,302,000 after buying an additional 8,706 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in Ares Commercial Real Estate Corporation during the second quarter worth approximately $2,742,000. California Public Employees Retirement System acquired a new position in Ares Commercial Real Estate Corporation during the second quarter worth approximately $322,000. State Board of Administration of Florida Retirement System increased its position in Ares Commercial Real Estate Corporation by 135.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 113,957 shares of the company’s stock worth $1,401,000 after buying an additional 65,595 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Ares Commercial Real Estate Corporation by 41.9% in the second quarter. JPMorgan Chase & Co. now owns 19,349 shares of the company’s stock worth $237,000 after buying an additional 5,712 shares during the last quarter. 72.08% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Ares Commercial Real Estate Corporation (NYSE:ACRE)

Shares of Ares Commercial Real Estate Corporation (NYSE:ACRE) traded up 0.14% on Friday, hitting $13.93. The company’s stock had a trading volume of 51,853 shares. Ares Commercial Real Estate Corporation has a 1-year low of $8.91 and a 1-year high of $14.39. The firm has a market cap of $396.35 million, a PE ratio of 9.64 and a beta of 0.79. The company has a 50 day moving average of $13.82 and a 200 day moving average of $12.98.

Ares Commercial Real Estate Corporation (NYSE:ACRE) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by $0.01. Ares Commercial Real Estate Corporation had a net margin of 54.20% and a return on equity of 6.34%. During the same quarter last year, the business posted $0.33 earnings per share. Equities analysts forecast that Ares Commercial Real Estate Corporation will post $1.41 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 17th. Investors of record on Friday, December 30th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 7.47%. The ex-dividend date is Wednesday, December 28th. Ares Commercial Real Estate Corporation’s dividend payout ratio is currently 71.72%.

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ACRE has been the topic of a number of recent analyst reports. J P Morgan Chase & Co reiterated a “buy” rating and issued a $14.00 price objective on shares of Ares Commercial Real Estate Corporation in a report on Friday, November 4th. Zacks Investment Research upgraded Ares Commercial Real Estate Corporation from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Thursday, October 13th. FBR & Co increased their price objective on Ares Commercial Real Estate Corporation from $14.00 to $14.75 and gave the company an “outperform” rating in a report on Tuesday, November 22nd. Finally, Bank of America downgraded Ares Commercial Real Estate Corporation from a “neutral” rating to an “underperform” rating in a report on Thursday, December 15th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Ares Commercial Real Estate Corporation presently has an average rating of “Hold” and an average target price of $13.54.

About Ares Commercial Real Estate Corporation

Ares Commercial Real Estate Corporation is a specialty finance company. The Company is focused on directly originating, managing and servicing a portfolio of commercial real estate (CRE) debt-related investments for its own account. It operates in two segments: principal lending and mortgage banking.

5 Day Chart for NYSE:ACRE

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