The Manufacturers Life Insurance Company Acquires 2,769 Shares of Ares Commercial Real Estate Co. (NYSE:ACRE)

The Manufacturers Life Insurance Company grew its position in shares of Ares Commercial Real Estate Co. (NYSE:ACRE) by 7.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 41,492 shares of the real estate investment trust’s stock after purchasing an additional 2,769 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.08% of Ares Commercial Real Estate worth $276,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Ameritas Advisory Services LLC bought a new position in Ares Commercial Real Estate during the 2nd quarter valued at $68,000. EntryPoint Capital LLC bought a new stake in shares of Ares Commercial Real Estate in the first quarter valued at $84,000. XTX Topco Ltd purchased a new position in shares of Ares Commercial Real Estate during the 2nd quarter valued at $82,000. Quest Partners LLC boosted its position in Ares Commercial Real Estate by 1,329,500.0% during the second quarter. Quest Partners LLC now owns 13,296 shares of the real estate investment trust’s stock worth $88,000 after purchasing an additional 13,295 shares during the period. Finally, Virtu Financial LLC purchased a new position in Ares Commercial Real Estate in the 1st quarter valued at approximately $108,000. Institutional investors own 41.34% of the company’s stock.

Ares Commercial Real Estate Trading Down 1.8 %

Shares of ACRE stock opened at $6.67 on Friday. Ares Commercial Real Estate Co. has a twelve month low of $6.36 and a twelve month high of $11.24. The stock has a market cap of $363.56 million, a price-to-earnings ratio of -8.04 and a beta of 1.45. The company’s 50-day moving average price is $6.99 and its 200-day moving average price is $7.01. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.32.

Ares Commercial Real Estate Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, September 30th. This represents a $1.00 annualized dividend and a yield of 14.99%. Ares Commercial Real Estate’s dividend payout ratio (DPR) is -120.48%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wells Fargo & Company lowered shares of Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $7.50 to $7.00 in a research report on Friday, September 20th. JPMorgan Chase & Co. reduced their price objective on Ares Commercial Real Estate from $7.00 to $6.50 and set a “neutral” rating on the stock in a research note on Thursday. BTIG Research reissued a “neutral” rating on shares of Ares Commercial Real Estate in a research report on Friday, July 19th. Finally, StockNews.com downgraded shares of Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $7.10.

Ares Commercial Real Estate 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.