Principal Financial Group Inc. Invests $249,000 in Ares Commercial Real Estate Corp (ACRE)

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Principal Financial Group Inc. purchased a new stake in Ares Commercial Real Estate Corp (NYSE:ACRE) in the fourth quarter, Holdings Channel reports. The firm purchased 19,068 shares of the real estate investment trust’s stock, valued at approximately $249,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ACRE. Acadian Asset Management LLC raised its position in shares of Ares Commercial Real Estate by 27.4% in the fourth quarter. Acadian Asset Management LLC now owns 999,006 shares of the real estate investment trust’s stock valued at $13,030,000 after buying an additional 215,028 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Ares Commercial Real Estate by 294.7% in the third quarter. Renaissance Technologies LLC now owns 172,500 shares of the real estate investment trust’s stock valued at $2,410,000 after buying an additional 128,800 shares in the last quarter. BlackRock Inc. raised its position in shares of Ares Commercial Real Estate by 4.7% in the third quarter. BlackRock Inc. now owns 2,678,523 shares of the real estate investment trust’s stock valued at $37,419,000 after buying an additional 120,580 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in shares of Ares Commercial Real Estate by 57.8% in the third quarter. TIAA CREF Investment Management LLC now owns 244,586 shares of the real estate investment trust’s stock valued at $3,417,000 after buying an additional 89,541 shares in the last quarter. Finally, Martingale Asset Management L P raised its position in shares of Ares Commercial Real Estate by 42.3% in the third quarter. Martingale Asset Management L P now owns 206,564 shares of the real estate investment trust’s stock valued at $2,886,000 after buying an additional 61,428 shares in the last quarter. Institutional investors own 64.66% of the company’s stock.

A number of equities research analysts have recently weighed in on ACRE shares. Zacks Investment Research downgraded shares of Ares Commercial Real Estate from a “buy” rating to a “hold” rating in a research report on Tuesday, January 1st. Raymond James upgraded shares of Ares Commercial Real Estate from an “outperform” rating to a “strong-buy” rating in a research report on Friday, January 11th. Finally, ValuEngine upgraded shares of Ares Commercial Real Estate from a “hold” rating to a “buy” rating in a research report on Thursday, February 28th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $15.00.

Shares of ACRE opened at $15.29 on Thursday. Ares Commercial Real Estate Corp has a one year low of $12.08 and a one year high of $15.53. The company has a market cap of $441.98 million, a price-to-earnings ratio of 10.98 and a beta of 0.61.

Ares Commercial Real Estate (NYSE:ACRE) last announced its quarterly earnings data on Thursday, February 21st. The real estate investment trust reported $0.37 EPS for the quarter, beating the consensus estimate of $0.31 by $0.06. Ares Commercial Real Estate had a net margin of 32.63% and a return on equity of 9.39%. The business had revenue of $30.88 million during the quarter, compared to the consensus estimate of $29.00 million. Equities research analysts anticipate that Ares Commercial Real Estate Corp will post 1.36 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Friday, March 29th were given a dividend of $0.33 per share. This is an increase from Ares Commercial Real Estate’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a yield of 8.63%. The ex-dividend date was Thursday, March 28th. Ares Commercial Real Estate’s payout ratio is currently 94.96%.

In related news, Director William Stephen Benjamin purchased 3,300 shares of the stock in a transaction dated Wednesday, March 6th. The stock was bought at an average cost of $15.16 per share, for a total transaction of $50,028.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rand Scott April purchased 9,730 shares of the stock in a transaction dated Wednesday, March 13th. The shares were bought at an average price of $15.42 per share, with a total value of $150,036.60. The disclosure for this purchase can be found here. 2.21% of the stock is owned by insiders.

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Ares Commercial Real Estate Company Profile

Ares Commercial Real Estate Corporation, a specialty finance company, originates and invests in commercial real estate loans and related investments in the United States. It provides a range of financing solutions for the owners, operators, and sponsors of commercial real estate (CRE) properties. The company originates senior mortgage loans, subordinate debt products, real estate preferred equity investments, mezzanine loans, and other CRE investments.

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Institutional Ownership by Quarter for Ares Commercial Real Estate (NYSE:ACRE)

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