Canton Hathaway LLC purchased a new stake in Ares Commercial Real Estate Corp (NYSE:ACRE) in the 3rd quarter, according to its most recent filing with the SEC. The fund purchased 13,480 shares of the real estate investment trust’s stock, valued at approximately $205,000.
A number of other institutional investors and hedge funds have also modified their holdings of ACRE. Bank of Montreal Can acquired a new stake in shares of Ares Commercial Real Estate during the 2nd quarter worth $33,000. Marshall Wace North America L.P. acquired a new stake in shares of Ares Commercial Real Estate during the 1st quarter worth $77,000. US Bancorp DE increased its holdings in shares of Ares Commercial Real Estate by 1,130.3% during the 2nd quarter. US Bancorp DE now owns 7,111 shares of the real estate investment trust’s stock worth $106,000 after buying an additional 6,533 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in shares of Ares Commercial Real Estate during the 2nd quarter worth $184,000. Finally, Orinda Asset Management LLC acquired a new stake in shares of Ares Commercial Real Estate during the 2nd quarter worth $193,000. Institutional investors own 63.09% of the company’s stock.
Separately, Zacks Investment Research upgraded Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a report on Monday, July 8th.
Ares Commercial Real Estate (NYSE:ACRE) last released its quarterly earnings data on Friday, July 26th. The real estate investment trust reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. The business 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%. As a group, analysts expect that Ares Commercial Real Estate Corp will post 1.32 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued 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 8.66%. Ares Commercial Real Estate’s payout ratio is 94.96%.
About Ares Commercial Real Estate
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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