902,153 Shares in Ares Commercial Real Estate Corporation $ACRE Bought by Cura Wealth Advisors LLC

Cura Wealth Advisors LLC acquired a new stake in shares of Ares Commercial Real Estate Corporation (NYSE:ACRE) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 902,153 shares of the real estate investment trust’s stock, valued at approximately $4,060,000. Ares Commercial Real Estate comprises 1.7% of Cura Wealth Advisors LLC’s portfolio, making the stock its 10th biggest holding.

A number of other institutional investors also recently bought and sold shares of ACRE. Russell Investments Group Ltd. boosted its position in Ares Commercial Real Estate by 456.0% in the third quarter. Russell Investments Group Ltd. now owns 6,033 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 4,948 shares during the last quarter. Optiver Holding B.V. grew its stake in shares of Ares Commercial Real Estate by 603.3% during the 1st quarter. Optiver Holding B.V. now owns 6,513 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 5,587 shares during the period. Triumph Capital Management purchased a new stake in shares of Ares Commercial Real Estate during the 3rd quarter valued at about $38,000. BNP Paribas Financial Markets lifted its stake in shares of Ares Commercial Real Estate by 100.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 10,367 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 5,192 shares during the period. Finally, Strs Ohio bought a new position in shares of Ares Commercial Real Estate in the 1st quarter worth approximately $47,000. Institutional investors own 41.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ACRE. UBS Group initiated coverage on shares of Ares Commercial Real Estate in a report on Tuesday, June 2nd. They issued a “neutral” rating and a $5.50 price objective on the stock. Wall Street Zen upgraded shares of Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research report on Saturday. Zacks Research upgraded shares of Ares Commercial Real Estate from a “strong sell” rating to a “hold” rating in a research note on Friday, July 10th. Weiss Ratings raised shares of Ares Commercial Real Estate from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 4th. Finally, Citizens Jmp restated a “market perform” rating on shares of Ares Commercial Real Estate in a research note on Thursday, July 9th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Ares Commercial Real Estate has an average rating of “Reduce” and an average target price of $5.25.

Ares Commercial Real Estate Stock Up 0.1%

ACRE stock opened at $4.72 on Monday. Ares Commercial Real Estate Corporation has a twelve month low of $4.14 and a twelve month high of $5.89. The stock has a market cap of $262.14 million, a P/E ratio of -59.06 and a beta of 1.15. The business’s 50-day moving average price is $4.60 and its 200-day moving average price is $4.88.

Ares Commercial Real Estate (NYSE:ACRE) last announced its quarterly earnings data on Tuesday, August 4th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.08. The company had revenue of $14.36 million during the quarter, compared to the consensus estimate of $10.96 million. Ares Commercial Real Estate had a positive return on equity of 4.08% and a negative net margin of 8.04%. On average, equities research analysts expect that Ares Commercial Real Estate Corporation will post 0.39 earnings per share for the current fiscal year.

Ares Commercial Real Estate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 12.7%. The ex-dividend date is Wednesday, September 30th. Ares Commercial Real Estate’s dividend payout ratio is presently -750.00%.

Ares Commercial Real Estate Company Profile

Ares Commercial Real Estate Corporation (NYSE: ACRE) is a publicly traded real estate investment trust (REIT) primarily focused on commercial real estate debt investments. Externally managed by an affiliate of Ares Management Corporation, ACRE seeks to generate attractive risk-adjusted returns through its diversified portfolio of CRE financing strategies. The company specializes in originating, acquiring, financing and managing first mortgages, mezzanine loans, preferred equity and other structured finance products.

Since its inception, Ares Commercial Real Estate has targeted a broad range of property types, including multifamily, office, industrial, retail and hospitality assets.