Greenwich Investment Management Inc. Has $3.55 Million Stock Holdings in Ares Commercial Real Estate Corp (NYSE:ACRE)

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Greenwich Investment Management Inc. raised its position in Ares Commercial Real Estate Corp (NYSE:ACRE) by 161.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 238,578 shares of the real estate investment trust’s stock after buying an additional 147,318 shares during the quarter. Ares Commercial Real Estate accounts for 3.5% of Greenwich Investment Management Inc.’s holdings, making the stock its 11th biggest holding. Greenwich Investment Management Inc. owned 0.83% of Ares Commercial Real Estate worth $3,545,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Catalyst Capital Advisors LLC bought a new stake in shares of Ares Commercial Real Estate during the 1st quarter valued at $36,000. PNC Financial Services Group Inc. bought a new stake in shares of Ares Commercial Real Estate during the 1st quarter valued at $36,000. Marshall Wace North America L.P. bought a new stake in shares of Ares Commercial Real Estate during the 1st quarter valued at $77,000. BNP Paribas Arbitrage SA lifted its position in shares of Ares Commercial Real Estate by 216.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,578 shares of the real estate investment trust’s stock valued at $85,000 after acquiring an additional 3,817 shares during the period. Finally, Metropolitan Life Insurance Co. NY lifted its position in shares of Ares Commercial Real Estate by 431.5% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,614 shares of the real estate investment trust’s stock valued at $125,000 after acquiring an additional 7,805 shares during the period. 67.91% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:ACRE opened at $15.26 on Wednesday. The firm’s fifty day moving average is $15.05. The company has a market cap of $438.80 million, a P/E ratio of 10.98 and a beta of 0.59. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 2.75. Ares Commercial Real Estate Corp has a fifty-two week low of $12.75 and a fifty-two week high of $15.53.

Ares Commercial Real Estate (NYSE:ACRE) last released its earnings results on Friday, July 26th. The real estate investment trust reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. The firm had revenue of $29.99 million during the quarter, compared to the consensus estimate of $27.80 million. Ares Commercial Real Estate had a return on equity of 9.29% and a net margin of 32.10%. On average, analysts expect that Ares Commercial Real Estate Corp will post 1.32 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.33 per share. The ex-dividend date is Friday, September 27th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 8.65%. Ares Commercial Real Estate’s payout ratio is 94.96%.

Separately, Zacks Investment Research upgraded Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research report on Monday, July 8th. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Ares Commercial Real Estate presently has a consensus rating of “Buy” and an average price target of $15.25.

Ares Commercial Real Estate Company Profile

Ares Commercial Real Estate Corporation, a specialty finance company, originates and invests in commercial real estate loans and related investments in the United States. It provides a range of financing solutions for the owners, operators, and sponsors of commercial real estate (CRE) properties. The company originates senior mortgage loans, subordinate debt products, real estate preferred equity investments, mezzanine loans, and other CRE investments.

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

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