The Manufacturers Life Insurance Company boosted its holdings in Ares Commercial Real Estate Corp (NYSE:ACRE) by 10.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,473 shares of the real estate investment trust’s stock after acquiring an additional 2,491 shares during the period. The Manufacturers Life Insurance Company owned 0.09% of Ares Commercial Real Estate worth $333,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of ACRE. Yorktown Management & Research Co Inc bought a new stake in Ares Commercial Real Estate in the 2nd quarter valued at $3,011,000. Thrivent Financial For Lutherans raised its stake in Ares Commercial Real Estate by 155.5% in the 2nd quarter. Thrivent Financial For Lutherans now owns 226,060 shares of the real estate investment trust’s stock valued at $2,959,000 after acquiring an additional 137,570 shares during the period. Kennedy Capital Management Inc. raised its stake in Ares Commercial Real Estate by 113.2% in the 2nd quarter. Kennedy Capital Management Inc. now owns 170,749 shares of the real estate investment trust’s stock valued at $2,235,000 after acquiring an additional 90,644 shares during the period. Vanguard Group Inc. raised its stake in Ares Commercial Real Estate by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 1,188,935 shares of the real estate investment trust’s stock valued at $15,908,000 after acquiring an additional 79,338 shares during the period. Finally, HGI Capital Management LLC acquired a new position in Ares Commercial Real Estate in the 2nd quarter valued at $713,000. Institutional investors and hedge funds own 63.12% of the company’s stock.

ACRE has been the topic of a number of research reports. Keefe, Bruyette & Woods set a $14.00 price objective on Ares Commercial Real Estate and gave the company a “hold” rating in a report on Thursday, August 17th. BidaskClub raised Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. JMP Securities reaffirmed an “outperform” rating and issued a $14.50 price objective (down from $15.00) on shares of Ares Commercial Real Estate in a report on Thursday, August 10th. Zacks Investment Research raised Ares Commercial Real Estate from a “sell” rating to a “hold” rating and set a $14.00 price objective on the stock in a report on Monday, November 6th. Finally, ValuEngine raised Ares Commercial Real Estate from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Ares Commercial Real Estate currently has an average rating of “Hold” and an average target price of $14.17.

Ares Commercial Real Estate Corp (ACRE) opened at $13.42 on Friday. Ares Commercial Real Estate Corp has a 1-year low of $12.48 and a 1-year high of $14.39. The company has a market capitalization of $383.68, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 1.73 and a beta of 0.69.

Ares Commercial Real Estate (NYSE:ACRE) last issued its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.11. Ares Commercial Real Estate had a return on equity of 7.76% and a net margin of 33.69%. The firm had revenue of $28.55 million for the quarter, compared to analyst estimates of $11.71 million. During the same period in the prior year, the firm posted $0.31 EPS. equities research analysts predict that Ares Commercial Real Estate Corp will post 1.11 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 8.05%. The ex-dividend date is Thursday, December 28th. Ares Commercial Real Estate’s dividend payout ratio (DPR) is currently 94.74%.

ILLEGAL ACTIVITY WARNING: “Ares Commercial Real Estate Corp (ACRE) Shares Bought by The Manufacturers Life Insurance Company” was originally published by Daily Political and is the sole property of of Daily Political. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this story can be viewed at https://www.dailypolitical.com/2017/12/03/ares-commercial-real-estate-corp-acre-shares-bought-by-the-manufacturers-life-insurance-company.html.

Ares Commercial Real Estate Company Profile

Ares Commercial Real Estate Corporation is a specialty finance company. The Company is primarily engaged in originating and investing in commercial real estate (CRE) loans and related investments. The Company operates through principal lending segment. Its target investments include senior mortgage loans, subordinated debt, preferred equity, mezzanine loans and other CRE investment opportunities, including commercial mortgage-backed securities.

Want to see what other hedge funds are holding ACRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ares Commercial Real Estate Corp (NYSE:ACRE).

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

Receive News & Ratings for Ares Commercial Real Estate Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Commercial Real Estate Corp and related companies with MarketBeat.com's FREE daily email newsletter.