Ares Commercial Real Estate Corp (ACRE) Shares Bought by Citadel Advisors LLC

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Citadel Advisors LLC raised its holdings in shares of Ares Commercial Real Estate Corp (NYSE:ACRE) by 69.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,656 shares of the real estate investment trust’s stock after purchasing an additional 12,559 shares during the quarter. Citadel Advisors LLC owned 0.11% of Ares Commercial Real Estate worth $423,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of Ares Commercial Real Estate during the second quarter valued at $100,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Ares Commercial Real Estate during the second quarter valued at $161,000. Russell Investments Group Ltd. purchased a new position in shares of Ares Commercial Real Estate during the second quarter valued at $211,000. A.R.T. Advisors LLC purchased a new position in shares of Ares Commercial Real Estate during the first quarter valued at $248,000. Finally, GSA Capital Partners LLP increased its stake in shares of Ares Commercial Real Estate by 113.9% during the second quarter. GSA Capital Partners LLP now owns 23,888 shares of the real estate investment trust’s stock valued at $330,000 after buying an additional 12,719 shares during the period. Institutional investors and hedge funds own 62.75% of the company’s stock.

ACRE traded down $0.01 on Friday, hitting $13.53. The company had a trading volume of 108,605 shares, compared to its average volume of 109,272. Ares Commercial Real Estate Corp has a 12-month low of $11.96 and a 12-month high of $14.77. The firm has a market capitalization of $400.92 million, a PE ratio of 12.19 and a beta of 0.56.

Ares Commercial Real Estate (NYSE:ACRE) last posted its earnings results on Thursday, July 26th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.03. Ares Commercial Real Estate had a return on equity of 8.85% and a net margin of 32.36%. The company had revenue of $29.60 million for the quarter, compared to analyst estimates of $27.30 million. As a group, research analysts predict that Ares Commercial Real Estate Corp will post 1.32 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 16th. Shareholders of record on Friday, September 28th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 8.57%. The ex-dividend date of this dividend is Thursday, September 27th. This is a positive change from Ares Commercial Real Estate’s previous quarterly dividend of $0.28. Ares Commercial Real Estate’s payout ratio is 104.50%.

Several equities analysts have recently commented on ACRE shares. BTIG Research started coverage on Ares Commercial Real Estate in a research note on Monday, October 8th. They set a “buy” rating and a $15.00 price target on the stock. Zacks Investment Research upgraded Ares Commercial Real Estate from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Wednesday, September 26th. JMP Securities raised their price target on Ares Commercial Real Estate from $14.50 to $15.00 and gave the company a “market outperform” rating in a research note on Monday, July 30th. JPMorgan Chase & Co. lowered Ares Commercial Real Estate from an “overweight” rating to a “neutral” rating in a research note on Monday, July 23rd. Finally, Credit Suisse Group raised their price target on Ares Commercial Real Estate from $14.00 to $14.50 and gave the company a “neutral” rating in a research note on Tuesday, August 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $14.75.

Ares Commercial Real Estate 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, mezzanine loans, real estate preferred equity investments, and other CRE investments.

Read More: Ex-Dividend

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

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