Delphi Financial Group Inc. Purchases Shares of 214,937 Ares Commercial Real Estate Corporation (NYSE:ACRE)

Key Points

• Delphi Financial Group Inc. has acquired a new position in Ares Commercial Real Estate Corporation, purchasing 214,937 shares valued at approximately $995,000, making it the company's 17th largest holding.
• Ares Commercial Real Estate recently announced a quarterly dividend of $0.15 per share, equating to a 13.4% dividend yield, with stockholders of record set to receive the dividend on October 15th.
• Analysts have recently downgraded the target price for Ares Commercial Real Estate, with Keefe, Bruyette & Woods reducing it from $4.80 to $4.25, and UBS Group from $5.00 to $4.50, maintaining a "neutral" rating.

Delphi Financial Group Inc. purchased a new position in shares of Ares Commercial Real Estate Corporation (NYSE:ACRE - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 214,937 shares of the real estate investment trust's stock, valued at approximately $995,000. Ares Commercial Real Estate accounts for 0.6% of Delphi Financial Group Inc.'s investment portfolio, making the stock its 17th biggest holding. Delphi Financial Group Inc. owned about 0.39% of Ares Commercial Real Estate as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. GSA Capital Partners LLP acquired a new stake in Ares Commercial Real Estate in the 1st quarter valued at about $661,000. Private Advisor Group LLC raised its position in shares of Ares Commercial Real Estate by 18.0% during the 1st quarter. Private Advisor Group LLC now owns 34,472 shares of the real estate investment trust's stock worth $160,000 after acquiring an additional 5,267 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Ares Commercial Real Estate by 2.7% during the 1st quarter. Victory Capital Management Inc. now owns 124,250 shares of the real estate investment trust's stock worth $575,000 after acquiring an additional 3,250 shares in the last quarter. Round Rock Advisors LLC acquired a new stake in shares of Ares Commercial Real Estate during the 1st quarter worth about $167,000. Finally, Penserra Capital Management LLC grew its stake in Ares Commercial Real Estate by 21.0% during the 1st quarter. Penserra Capital Management LLC now owns 157,038 shares of the real estate investment trust's stock worth $727,000 after buying an additional 27,305 shares during the last quarter. 41.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ACRE has been the topic of a number of research reports. Wall Street Zen downgraded Ares Commercial Real Estate from a "hold" rating to a "strong sell" rating in a research note on Saturday. JMP Securities restated a "market perform" rating on shares of Ares Commercial Real Estate in a research note on Monday, April 21st. Keefe, Bruyette & Woods dropped their price target on Ares Commercial Real Estate from $4.80 to $4.25 and set a "market perform" rating on the stock in a research note on Wednesday, August 6th. Finally, UBS Group dropped their price target on Ares Commercial Real Estate from $5.00 to $4.50 and set a "neutral" rating on the stock in a research note on Wednesday, August 6th. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $5.31.

Ares Commercial Real Estate Price Performance

ACRE traded up $0.21 during trading on Tuesday, reaching $4.37. 272,917 shares of the stock were exchanged, compared to its average volume of 564,876. The business's 50 day moving average price is $4.70 and its two-hundred day moving average price is $4.68. The company has a market capitalization of $240.12 million, a price-to-earnings ratio of -12.84, a P/E/G ratio of 1.74 and a beta of 1.33. Ares Commercial Real Estate Corporation has a 1 year low of $3.35 and a 1 year high of $7.83.

Ares Commercial Real Estate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 13.7%. The ex-dividend date of this dividend is Tuesday, September 30th. Ares Commercial Real Estate's payout ratio is -176.47%.

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.