JPMorgan Chase & Co. lifted its holdings in Ares Commercial Real Estate Corp (NYSE:ACRE) by 505.8% during the 3rd quarter, Holdings Channel reports. The firm owned 48,658 shares of the real estate investment trust’s stock after acquiring an additional 40,626 shares during the quarter. JPMorgan Chase & Co.’s holdings in Ares Commercial Real Estate were worth $649,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. SG Americas Securities LLC acquired a new position in shares of Ares Commercial Real Estate in the 3rd quarter worth approximately $103,000. Citadel Advisors LLC grew its stake in shares of Ares Commercial Real Estate by 32.1% in the 2nd quarter. Citadel Advisors LLC now owns 16,324 shares of the real estate investment trust’s stock worth $214,000 after purchasing an additional 3,966 shares during the last quarter. Nationwide Fund Advisors grew its stake in shares of Ares Commercial Real Estate by 5.3% in the 2nd quarter. Nationwide Fund Advisors now owns 16,686 shares of the real estate investment trust’s stock worth $218,000 after purchasing an additional 839 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Ares Commercial Real Estate by 10.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,473 shares of the real estate investment trust’s stock worth $333,000 after purchasing an additional 2,491 shares during the last quarter. Finally, Ares Management LLC grew its stake in shares of Ares Commercial Real Estate by 3.6% in the 2nd quarter. Ares Management LLC now owns 29,386 shares of the real estate investment trust’s stock worth $384,000 after purchasing an additional 1,008 shares during the last quarter. 63.19% of the stock is currently owned by institutional investors.

Several equities analysts have recently issued reports on ACRE shares. B. Riley reaffirmed a “buy” rating on shares of Ares Commercial Real Estate in a research note on Thursday, November 2nd. BidaskClub cut shares of Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a research note on Thursday, October 26th. Zacks Investment Research raised shares of Ares Commercial Real Estate from a “sell” rating to a “hold” rating and set a $14.00 price objective on the stock in a research note on Monday, November 6th. Finally, ValuEngine raised shares of Ares Commercial Real Estate from a “hold” rating to a “buy” rating in a research note on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $14.13.

Ares Commercial Real Estate Corp (ACRE) opened at $12.89 on Tuesday. The firm has a market cap of $368.52, a P/E ratio of 11.31 and a beta of 0.69. Ares Commercial Real Estate Corp has a 1 year low of $12.48 and a 1 year high of $14.22.

Ares Commercial Real Estate (NYSE:ACRE) last released its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.11. The business had revenue of $28.55 million for the quarter, compared to the consensus estimate of $11.71 million. Ares Commercial Real Estate had a net margin of 33.69% and a return on equity of 7.76%. During the same period last year, the firm posted $0.31 earnings per share. sell-side analysts anticipate that Ares Commercial Real Estate Corp will post 1.1 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 8.38%. The ex-dividend date of this dividend is Thursday, December 28th. Ares Commercial Real Estate’s dividend payout ratio (DPR) is currently 94.74%.

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Ares Commercial Real Estate 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.

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

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