Nuveen LLC Buys New Shares in Ares Commercial Real Estate Corporation $ACRE

Key Points

• Nuveen LLC has made a new investment of approximately $554,000 in Ares Commercial Real Estate Corporation, acquiring 119,676 shares during the first quarter.
• ACRE stock recently traded at $4.90 with a 4.4% increase, while the company's dividend payout is set at $0.15 per share, yielding 12.3%.
• Analyst ratings for Ares Commercial Real Estate are mostly cautious, with a consensus rating of "Reduce" and target prices adjusted down to between $4.25 and $5.31.

Nuveen LLC acquired a new stake in shares of Ares Commercial Real Estate Corporation (NYSE:ACRE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 119,676 shares of the real estate investment trust's stock, valued at approximately $554,000. Nuveen LLC owned approximately 0.22% of Ares Commercial Real Estate at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Arlington Trust Co LLC bought a new stake in shares of Ares Commercial Real Estate during the first quarter worth approximately $28,000. McIlrath & Eck LLC purchased a new stake in Ares Commercial Real Estate during the 4th quarter worth about $54,000. ProShare Advisors LLC increased its position in shares of Ares Commercial Real Estate by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 15,045 shares of the real estate investment trust's stock valued at $89,000 after purchasing an additional 4,950 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Ares Commercial Real Estate in the 4th quarter valued at approximately $123,000. Finally, Private Advisor Group LLC increased its holdings in shares of Ares Commercial Real Estate by 18.0% in the 1st quarter. Private Advisor Group LLC now owns 34,472 shares of the real estate investment trust's stock worth $160,000 after purchasing an additional 5,267 shares in the last quarter. Institutional investors own 41.34% of the company's stock.

Ares Commercial Real Estate Stock Performance

ACRE traded down $0.17 during midday trading on Monday, hitting $4.97. The company had a trading volume of 301,520 shares, compared to its average volume of 551,498. The company has a market capitalization of $273.12 million, a PE ratio of -14.54 and a beta of 1.32. The firm's 50-day simple moving average is $4.61 and its 200-day simple 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.

Ares Commercial Real Estate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.60 annualized dividend and a dividend yield of 12.1%. Ares Commercial Real Estate's payout ratio is -176.47%.

Analyst Ratings Changes

ACRE has been the topic of several research analyst reports. Zacks Research raised Ares Commercial Real Estate to a "hold" rating in a research note on Monday, August 11th. UBS Group lowered their target price on shares of Ares Commercial Real Estate from $5.00 to $4.50 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Keefe, Bruyette & Woods cut 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. Finally, Wall Street Zen lowered shares of Ares Commercial Real Estate from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 9th. Five analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus target price of $5.31.

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.