Inspire Investing LLC Purchases 8,048 Shares of Ares Commercial Real Estate Corporation $ACRE

Inspire Investing LLC increased its position in Ares Commercial Real Estate Corporation (NYSE:ACRE) by 10.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 82,402 shares of the real estate investment trust’s stock after purchasing an additional 8,048 shares during the quarter. Inspire Investing LLC owned approximately 0.15% of Ares Commercial Real Estate worth $393,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nuveen LLC bought a new position in Ares Commercial Real Estate in the first quarter worth approximately $554,000. Delphi Financial Group Inc. bought a new position in Ares Commercial Real Estate in the first quarter worth approximately $995,000. Victory Capital Management Inc. grew its stake in Ares Commercial Real Estate by 2.7% in the first quarter. Victory Capital Management Inc. now owns 124,250 shares of the real estate investment trust’s stock worth $575,000 after purchasing an additional 3,250 shares in the last quarter. Cura Wealth Advisors LLC grew its stake in Ares Commercial Real Estate by 32.1% in the first quarter. Cura Wealth Advisors LLC now owns 963,485 shares of the real estate investment trust’s stock worth $4,461,000 after purchasing an additional 234,258 shares in the last quarter. Finally, Private Advisor Group LLC lifted its holdings in Ares Commercial Real Estate by 18.0% during the first quarter. Private Advisor Group LLC now owns 34,472 shares of the real estate investment trust’s stock worth $160,000 after buying an additional 5,267 shares during the period. Institutional investors own 41.34% of the company’s stock.

Ares Commercial Real Estate Trading Up 1.1%

Shares of ACRE opened at $4.46 on Tuesday. Ares Commercial Real Estate Corporation has a 12 month low of $3.35 and a 12 month high of $7.49. The stock has a fifty day moving average price of $4.63 and a 200-day moving average price of $4.53. The firm has a market cap of $245.34 million, a PE ratio of -13.12 and a beta of 1.32.

Ares Commercial Real Estate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 13.5%. The ex-dividend date is Tuesday, September 30th. Ares Commercial Real Estate’s dividend payout ratio is currently -176.47%.

Wall Street Analysts Forecast Growth

ACRE has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upped their target price on Ares Commercial Real Estate from $4.25 to $4.50 and gave the stock a “market perform” rating in a report on Thursday, October 9th. Wall Street Zen lowered Ares Commercial Real Estate from a “hold” rating to a “strong sell” rating in a report on Saturday, August 9th. Zacks Research upgraded Ares Commercial Real Estate to a “hold” rating in a report on Monday, August 11th. Weiss Ratings restated a “sell (d)” rating on shares of Ares Commercial Real Estate in a report on Wednesday, October 8th. Finally, UBS Group lowered their target price on Ares Commercial Real Estate from $5.00 to $4.50 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Five analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Ares Commercial Real Estate has a consensus rating of “Reduce” and an average target price of $4.83.

About Ares Commercial Real Estate

Ares Commercial Real Estate Corporation, a specialty finance company, originates and invests in commercial real estate (CRE) loans and related investments in the United States. It provides a range of financing solutions for the owners, operators, and sponsors of CRE properties. The company originates senior mortgage loans, subordinate debt and preferred equity products, mezzanine loans, and other CRE investments, including commercial mortgage-backed securities.