Citigroup Inc. Grows Stock Holdings in Ares Commercial Real Estate Corp (NYSE:ACRE)

Citigroup Inc. increased its stake in shares of Ares Commercial Real Estate Corp (NYSE:ACRE) by 222.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,804 shares of the real estate investment trust’s stock after buying an additional 10,217 shares during the period. Citigroup Inc.’s holdings in Ares Commercial Real Estate were worth $235,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in Ares Commercial Real Estate by 0.8% during the third quarter. State Street Corp now owns 776,787 shares of the real estate investment trust’s stock worth $12,086,000 after buying an additional 5,847 shares in the last quarter. AE Wealth Management LLC purchased a new stake in Ares Commercial Real Estate during the fourth quarter worth about $451,000. Voloridge Investment Management LLC raised its position in Ares Commercial Real Estate by 154.4% during the third quarter. Voloridge Investment Management LLC now owns 35,143 shares of the real estate investment trust’s stock worth $535,000 after acquiring an additional 21,328 shares during the last quarter. California Public Employees Retirement System raised its position in Ares Commercial Real Estate by 119.9% during the third quarter. California Public Employees Retirement System now owns 63,537 shares of the real estate investment trust’s stock worth $968,000 after acquiring an additional 34,645 shares during the last quarter. Finally, Barclays PLC raised its position in Ares Commercial Real Estate by 8.9% during the third quarter. Barclays PLC now owns 21,272 shares of the real estate investment trust’s stock worth $324,000 after acquiring an additional 1,742 shares during the last quarter. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ACRE opened at $5.75 on Thursday. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 3.00. The stock has a market cap of $172.62 million, a P/E ratio of 3.89 and a beta of 0.66. The company has a 50-day moving average of $13.86 and a two-hundred day moving average of $15.22. Ares Commercial Real Estate Corp has a 12-month low of $2.78 and a 12-month high of $17.72.

Ares Commercial Real Estate (NYSE:ACRE) last announced its earnings results on Thursday, February 20th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.04. The company had revenue of $28.54 million during the quarter. Ares Commercial Real Estate had a net margin of 32.23% and a return on equity of 9.04%. As a group, analysts forecast that Ares Commercial Real Estate Corp will post 1.29 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 22.96%. The ex-dividend date of this dividend is Monday, March 30th. Ares Commercial Real Estate’s payout ratio is currently 98.51%.

A number of equities analysts have issued reports on the stock. Credit Suisse Group lifted their target price on shares of Ares Commercial Real Estate from $16.00 to $17.50 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Zacks Investment Research cut shares of Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a research report on Tuesday, March 17th. JPMorgan Chase & Co. lifted their target price on shares of Ares Commercial Real Estate from $16.00 to $16.50 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Finally, ValuEngine upgraded shares of Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research report on Friday, February 28th.

In other news, Director Michael J. Arougheti acquired 20,000 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was acquired at an average price of $11.50 per share, with a total value of $230,000.00. Following the completion of the transaction, the director now directly owns 372,776 shares in the company, valued at approximately $4,286,924. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James Alan Henderson sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $17.41, for a total transaction of $435,250.00. Following the completion of the transaction, the director now directly owns 22,401 shares of the company’s stock, valued at approximately $390,001.41. The disclosure for this sale can be found here. Insiders own 2.19% of the company’s stock.

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, 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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