Principal Financial Group Inc. maintained its stake in Ares Commercial Real Estate Corporation (NYSE:ACRE) during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 21,173 shares of the real estate investment trust’s stock at the end of the first quarter. Principal Financial Group Inc.’s holdings in Ares Commercial Real Estate Corporation were worth $283,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in ACRE. ClariVest Asset Management LLC boosted its stake in Ares Commercial Real Estate Corporation by 5.4% in the first quarter. ClariVest Asset Management LLC now owns 15,494 shares of the real estate investment trust’s stock valued at $208,000 after buying an additional 791 shares during the period. American International Group Inc. boosted its stake in Ares Commercial Real Estate Corporation by 6.9% in the first quarter. American International Group Inc. now owns 16,512 shares of the real estate investment trust’s stock valued at $221,000 after buying an additional 1,060 shares during the period. Hancock Holding Co. boosted its stake in Ares Commercial Real Estate Corporation by 26.0% in the first quarter. Hancock Holding Co. now owns 13,162 shares of the real estate investment trust’s stock valued at $176,000 after buying an additional 2,713 shares during the period. TFS Capital LLC bought a new stake in Ares Commercial Real Estate Corporation during the first quarter valued at approximately $227,000. Finally, Joel Isaacson & Co. LLC bought a new stake in Ares Commercial Real Estate Corporation during the first quarter valued at approximately $971,000. Institutional investors and hedge funds own 66.82% of the company’s stock.
Ares Commercial Real Estate Corporation (NYSE:ACRE) opened at 12.90 on Wednesday. Ares Commercial Real Estate Corporation has a one year low of $12.13 and a one year high of $14.39. The firm has a market cap of $367.25 million, a price-to-earnings ratio of 8.81 and a beta of 0.69. The company’s 50-day moving average price is $13.17 and its 200-day moving average price is $13.33.
Ares Commercial Real Estate Corporation (NYSE:ACRE) last announced its quarterly earnings results on Tuesday, May 2nd. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by $0.02. The company had revenue of $21.13 million during the quarter, compared to the consensus estimate of $11.81 million. Ares Commercial Real Estate Corporation had a return on equity of 6.74% and a net margin of 49.39%. During the same period last year, the business posted $0.18 EPS. On average, analysts anticipate that Ares Commercial Real Estate Corporation will post $1.07 EPS for the current year.
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Several equities research analysts have recently commented on the company. BidaskClub cut Ares Commercial Real Estate Corporation from a “hold” rating to a “sell” rating in a research note on Monday. Zacks Investment Research upgraded Ares Commercial Real Estate Corporation from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Wednesday, July 26th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $13.75 price target on shares of Ares Commercial Real Estate Corporation in a research note on Friday, June 9th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Ares Commercial Real Estate Corporation currently has a consensus rating of “Hold” and an average price target of $14.08.
In other Ares Commercial Real Estate Corporation news, Director Michael J. Arougheti bought 19,722 shares of the business’s stock in a transaction on Monday, May 8th. The shares were purchased at an average price of $13.20 per share, with a total value of $260,330.40. Following the purchase, the director now directly owns 342,498 shares of the company’s stock, valued at $4,520,973.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James E. Skinner bought 3,860 shares of the business’s stock in a transaction on Thursday, May 4th. The shares were acquired at an average cost of $12.95 per share, for a total transaction of $49,987.00. Following the purchase, the director now directly owns 17,756 shares in the company, valued at $229,940.20. The disclosure for this purchase can be found here. In the last three months, insiders purchased 63,582 shares of company stock worth $835,517. Company insiders own 1.75% of the company’s stock.
Ares Commercial Real Estate Corporation 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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