Ares Commercial Real Estate Corp (ACRE) Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH lessened its holdings in Ares Commercial Real Estate Corp (NYSE:ACRE) by 58.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 108,810 shares of the real estate investment trust’s stock after selling 150,285 shares during the quarter. Allianz Asset Management GmbH owned 0.38% of Ares Commercial Real Estate worth $1,448,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ACRE. SG Americas Securities LLC bought a new position in shares of Ares Commercial Real Estate in the 3rd quarter valued at $103,000. Hotchkis & Wiley Capital Management LLC bought a new position in shares of Ares Commercial Real Estate in the 3rd quarter valued at $185,000. Citadel Advisors LLC lifted 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 valued at $214,000 after acquiring an additional 3,966 shares during the last quarter. Nationwide Fund Advisors lifted 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 valued at $218,000 after acquiring an additional 839 shares during the last quarter. Finally, Aperio Group LLC lifted its stake in shares of Ares Commercial Real Estate by 10.2% in the 2nd quarter. Aperio Group LLC now owns 22,793 shares of the real estate investment trust’s stock valued at $298,000 after acquiring an additional 2,101 shares during the last quarter. 63.19% of the stock is currently owned by hedge funds and other institutional investors.

ACRE has been the subject of a number of research reports. BidaskClub cut Ares Commercial Real Estate from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 7th. ValuEngine upgraded Ares Commercial Real Estate from a “hold” rating to a “buy” rating in a research note on Tuesday, November 7th. Zacks Investment Research raised Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research report on Thursday, September 21st. Finally, B. Riley reaffirmed a “buy” rating on shares of Ares Commercial Real Estate in a research report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $14.17.

Ares Commercial Real Estate Corp (ACRE) opened at $13.40 on Wednesday. The stock has a market capitalization of $383.11, a price-to-earnings ratio of 11.86, a P/E/G ratio of 1.72 and a beta of 0.69. Ares Commercial Real Estate Corp has a 12-month low of $12.48 and a 12-month high of $14.22.

Ares Commercial Real Estate (NYSE:ACRE) last announced its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.11. The business had revenue of $28.55 million during the quarter, compared to analyst estimates of $11.71 million. Ares Commercial Real Estate had a return on equity of 7.76% and a net margin of 33.69%. During the same period last year, the company earned $0.31 EPS. equities analysts predict that Ares Commercial Real Estate Corp will post 1.11 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 8.06%. The ex-dividend date is Thursday, December 28th. Ares Commercial Real Estate’s dividend payout ratio is currently 95.58%.

ILLEGAL ACTIVITY WARNING: This story was first published by Community Financial News and is owned by of Community Financial News. If you are reading this story on another site, it was illegally copied and reposted in violation of U.S. & international copyright law. The correct version of this story can be read at https://www.com-unik.info/2017/12/27/ares-commercial-real-estate-corp-acre-shares-sold-by-allianz-asset-management-gmbh.html.

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.

Want to see what other hedge funds are holding ACRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ares Commercial Real Estate Corp (NYSE:ACRE).

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

What are top analysts saying about Ares Commercial Real Estate? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Ares Commercial Real Estate and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit