Cubist Systematic Strategies LLC Purchases New Position in Ares Commercial Real Estate Corp (ACRE)

Cubist Systematic Strategies LLC purchased a new position in shares of Ares Commercial Real Estate Corp (NYSE:ACRE) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,525 shares of the real estate investment trust’s stock, valued at approximately $140,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Nationwide Fund Advisors boosted its stake in shares of Ares Commercial Real Estate by 5.3% during the 2nd quarter. Nationwide Fund Advisors now owns 16,686 shares of the real estate investment trust’s stock worth $218,000 after purchasing an additional 839 shares during the period. Ares Management LLC boosted its stake in shares of Ares Commercial Real Estate by 3.6% during the 2nd quarter. Ares Management LLC now owns 29,386 shares of the real estate investment trust’s stock worth $384,000 after purchasing an additional 1,008 shares during the period. Royal Bank of Canada boosted its stake in shares of Ares Commercial Real Estate by 3.1% during the 2nd quarter. Royal Bank of Canada now owns 46,452 shares of the real estate investment trust’s stock worth $609,000 after purchasing an additional 1,417 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Ares Commercial Real Estate by 10.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,473 shares of the real estate investment trust’s stock worth $333,000 after purchasing an additional 2,491 shares during the period. Finally, Citadel Advisors LLC boosted its stake in shares of Ares Commercial Real Estate by 32.1% during the 2nd quarter. Citadel Advisors LLC now owns 16,324 shares of the real estate investment trust’s stock worth $214,000 after purchasing an additional 3,966 shares during the period. 63.19% of the stock is owned by hedge funds and other institutional investors.

ACRE has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research note on Thursday, September 21st. BidaskClub raised shares of Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research note on Saturday, September 23rd. B. Riley reaffirmed a “buy” rating on shares of Ares Commercial Real Estate in a research note on Thursday, November 2nd. Finally, ValuEngine raised shares of Ares Commercial Real Estate from a “hold” rating to a “buy” rating in a research note on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Ares Commercial Real Estate currently has a consensus rating of “Hold” and an average price target of $14.13.

Shares of Ares Commercial Real Estate Corp (NYSE ACRE) opened at $12.89 on Friday. Ares Commercial Real Estate Corp has a twelve month low of $12.48 and a twelve month high of $14.22. The firm has a market cap of $369.67, a PE ratio of 11.31, a P/E/G ratio of 1.52 and a beta of 0.69.

Ares Commercial Real Estate (NYSE:ACRE) last announced its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.11. Ares Commercial Real Estate had a net margin of 33.69% and a return on equity of 7.76%. The company had revenue of $28.55 million during the quarter, compared to analyst estimates of $11.71 million. During the same quarter last year, the business posted $0.31 EPS. equities analysts expect that Ares Commercial Real Estate Corp will post 1.1 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.08 dividend on an annualized basis and a yield of 8.38%. Ares Commercial Real Estate’s payout ratio is 94.74%.

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Ares Commercial Real Estate Company 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.

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

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