North Ground Capital Acquires New Shares in Ares Commercial Real Estate Corporation $ACRE

North Ground Capital purchased a new stake in Ares Commercial Real Estate Corporation (NYSE:ACRE - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,232,000 shares of the real estate investment trust's stock, valued at approximately $5,544,000. Ares Commercial Real Estate comprises 0.0% of North Ground Capital's investment portfolio, making the stock its 6th largest position. North Ground Capital owned about 2.22% of Ares Commercial Real Estate at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Cura Wealth Advisors LLC acquired a new stake in shares of Ares Commercial Real Estate during the 2nd quarter worth about $4,060,000. Alpine Global Management LLC boosted its position in shares of Ares Commercial Real Estate by 27.8% during the 4th quarter. Alpine Global Management LLC now owns 759,110 shares of the real estate investment trust's stock worth $3,629,000 after purchasing an additional 165,193 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Ares Commercial Real Estate in the 4th quarter worth about $157,000. Squarepoint Ops LLC increased its position in shares of Ares Commercial Real Estate by 73.4% in the third quarter. Squarepoint Ops LLC now owns 32,137 shares of the real estate investment trust's stock worth $145,000 after purchasing an additional 13,608 shares during the last quarter. Finally, LPL Financial LLC grew its stake in shares of Ares Commercial Real Estate by 8.9% in the fourth quarter. LPL Financial LLC now owns 27,950 shares of the real estate investment trust's stock worth $134,000 after purchasing an additional 2,284 shares during the last quarter. 41.34% of the stock is owned by hedge funds and other institutional investors.

Ares Commercial Real Estate Stock Performance

Shares of ACRE traded up $0.02 on Friday, reaching $4.65. The stock had a trading volume of 112,922 shares, compared to its average volume of 464,819. The company has a 50-day simple moving average of $4.57 and a 200-day simple moving average of $4.85. Ares Commercial Real Estate Corporation has a 12-month low of $4.14 and a 12-month high of $5.89. The firm has a market capitalization of $257.99 million, a price-to-earnings ratio of -58.12 and a beta of 1.15.

Ares Commercial Real Estate (NYSE:ACRE - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported $0.12 EPS for the quarter, beating the consensus estimate of $0.04 by $0.08. The company had revenue of $14.36 million for the quarter, compared to the consensus estimate of $10.96 million. Ares Commercial Real Estate had a negative net margin of 8.04% and a positive return on equity of 4.08%. On average, analysts expect that Ares Commercial Real Estate Corporation will post 0.39 EPS for the current fiscal year.

Ares Commercial Real Estate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 12.9%. The ex-dividend date is Wednesday, September 30th. Ares Commercial Real Estate's dividend payout ratio (DPR) is -750.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Citizens Jmp reiterated a "market perform" rating on shares of Ares Commercial Real Estate in a research report on Thursday, July 9th. JPMorgan Chase & Co. decreased their price target on Ares Commercial Real Estate from $5.50 to $5.00 and set a "neutral" rating for the company in a report on Friday, July 17th. Keefe, Bruyette & Woods cut their target price on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set an "outperform" rating on the stock in a research note on Wednesday, May 13th. UBS Group assumed coverage on shares of Ares Commercial Real Estate in a research report on Tuesday, June 2nd. They issued a "neutral" rating and a $5.50 price target on the stock. Finally, Zacks Research raised Ares Commercial Real Estate from a "strong sell" rating to a "hold" rating in a research report on Friday, July 10th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus price target of $5.25.

Ares Commercial Real Estate Profile

Ares Commercial Real Estate Corporation NYSE: ACRE is a publicly traded real estate investment trust (REIT) primarily focused on commercial real estate debt investments. Externally managed by an affiliate of Ares Management Corporation, ACRE seeks to generate attractive risk-adjusted returns through its diversified portfolio of CRE financing strategies. The company specializes in originating, acquiring, financing and managing first mortgages, mezzanine loans, preferred equity and other structured finance products.

Since its inception, Ares Commercial Real Estate has targeted a broad range of property types, including multifamily, office, industrial, retail and hospitality assets.