Ares Commercial Real Estate Corporation $ACRE Shares Purchased by Hotchkis & Wiley Capital Management LLC

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in Ares Commercial Real Estate Corporation by 6.1%, owning approximately 1.99% of the company valued at $5.067 million after purchasing 62,900 shares in the first quarter.
• Wall Street analysts have issued mixed ratings, with UBS lowering its target price to $4.50 and a consensus rating of "Reduce," while Zacks Research upgraded the stock to a "hold" rating.
• Ares Commercial Real Estate recently declared a quarterly dividend of $0.15 per share, reflecting an annual yield of 13.2%, despite a dividend payout ratio of -176.47%.

Hotchkis & Wiley Capital Management LLC lifted its holdings in Ares Commercial Real Estate Corporation (NYSE:ACRE - Free Report) by 6.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,094,490 shares of the real estate investment trust's stock after buying an additional 62,900 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 1.99% of Ares Commercial Real Estate worth $5,067,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jane Street Group LLC lifted its stake in shares of Ares Commercial Real Estate by 267.2% in the fourth quarter. Jane Street Group LLC now owns 263,571 shares of the real estate investment trust's stock worth $1,552,000 after buying an additional 191,799 shares in the last quarter. Millennium Management LLC raised its stake in Ares Commercial Real Estate by 505.7% during the fourth quarter. Millennium Management LLC now owns 316,969 shares of the real estate investment trust's stock worth $1,867,000 after purchasing an additional 264,641 shares during the period. Deutsche Bank AG increased its position in shares of Ares Commercial Real Estate by 82.9% during the fourth quarter. Deutsche Bank AG now owns 65,072 shares of the real estate investment trust's stock valued at $383,000 after acquiring an additional 29,498 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Ares Commercial Real Estate by 2.7% during the first quarter. Victory Capital Management Inc. now owns 124,250 shares of the real estate investment trust's stock valued at $575,000 after acquiring an additional 3,250 shares during the last quarter. Finally, Delphi Financial Group Inc. acquired a new stake in shares of Ares Commercial Real Estate during the first quarter valued at about $995,000. 41.34% of the stock is owned by hedge funds and other institutional investors.

Ares Commercial Real Estate Price Performance

Shares of Ares Commercial Real Estate stock traded up $0.06 during trading hours on Friday, hitting $4.73. The company had a trading volume of 347,002 shares, compared to its average volume of 476,063. The company's 50-day moving average is $4.61 and its two-hundred day moving average is $4.56. Ares Commercial Real Estate Corporation has a twelve month low of $3.35 and a twelve month high of $7.83. The company has a market cap of $259.92 million, a P/E ratio of -13.90 and a beta of 1.32.

Ares Commercial Real Estate Dividend Announcement

The business also recently announced 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. The ex-dividend date is Tuesday, September 30th. This represents a $0.60 annualized dividend and a dividend yield of 12.7%. Ares Commercial Real Estate's dividend payout ratio is presently -176.47%.

Analysts Set New Price Targets

ACRE has been the subject of a number of recent analyst reports. UBS Group dropped their price target on shares of Ares Commercial Real Estate from $5.00 to $4.50 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Wall Street Zen cut shares of Ares Commercial Real Estate from a "hold" rating to a "strong sell" rating in a report on Saturday, August 9th. Zacks Research upgraded shares of Ares Commercial Real Estate to a "hold" rating in a report on Monday, August 11th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Ares Commercial Real Estate from $4.80 to $4.25 and set a "market perform" rating for the company in a report on Wednesday, August 6th. Five investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Ares Commercial Real Estate presently has a consensus rating of "Reduce" and a consensus target price of $5.31.

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.