Bank of New York Mellon Corp Has $1.37 Million Holdings in Ares Commercial Real Estate Co. (NYSE:ACRE)

Bank of New York Mellon Corp raised its stake in Ares Commercial Real Estate Co. (NYSE:ACRE) by 10.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 206,143 shares of the real estate investment trust’s stock after buying an additional 19,626 shares during the quarter. Bank of New York Mellon Corp owned 0.38% of Ares Commercial Real Estate worth $1,371,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Curated Wealth Partners LLC lifted its holdings in Ares Commercial Real Estate by 200.0% during the second quarter. Curated Wealth Partners LLC now owns 20,000 shares of the real estate investment trust’s stock worth $133,000 after acquiring an additional 40,000 shares in the last quarter. Bright Futures Wealth Management LLC. acquired a new stake in Ares Commercial Real Estate during the 1st quarter worth approximately $630,000. Virtu Financial LLC bought a new position in Ares Commercial Real Estate in the first quarter valued at approximately $108,000. Strategic Wealth Partners Ltd. acquired a new position in shares of Ares Commercial Real Estate in the first quarter valued at approximately $134,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Ares Commercial Real Estate by 4.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 51,234 shares of the real estate investment trust’s stock worth $382,000 after acquiring an additional 1,949 shares in the last quarter. Institutional investors own 41.34% of the company’s stock.

Ares Commercial Real Estate Price Performance

Shares of ACRE opened at $7.81 on Friday. The company has a market cap of $425.70 million, a price-to-earnings ratio of -9.41 and a beta of 1.45. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.32. The company’s fifty day simple moving average is $7.22 and its 200 day simple moving average is $7.10. Ares Commercial Real Estate Co. has a 1-year low of $6.36 and a 1-year high of $11.24.

Ares Commercial Real Estate Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.80%. The ex-dividend date of this dividend is Monday, September 30th. Ares Commercial Real Estate’s payout ratio is presently -120.48%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. StockNews.com lowered shares of Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th. BTIG Research reaffirmed a “neutral” rating on shares of Ares Commercial Real Estate in a research report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $7.25.

Ares Commercial Real Estate Company Profile

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.