Ares Commercial Real Estate Co. (NYSE:ACRE) Institutional Investors Increase Stake

Van ECK Associates Corp Increases Stake in Ares Commercial Real Estate Co.

Van ECK Associates Corp has raised its stake in Ares Commercial Real Estate Co. (NYSE:ACRE) by 7.1% in the 1st quarter, according to the company’s recent filing with the Securities & Exchange Commission. The institutional investor now owns 413,500 shares of the real estate investment trust’s stock, worth $3,081,000. This increase in stake highlights the confidence that Van ECK Associates Corp has in Ares Commercial Real Estate Co.

Other large investors have also made changes to their holdings of the stock. Penserra Capital Management LLC, SG Americas Securities LLC, Raymond James Financial Services Advisors Inc., Cerity Partners LLC, and Significant Wealth Partners LLC have all modified their positions in Ares Commercial Real Estate Co. This shows a strong interest from various investors in the company.

Ares Commercial Real Estate Co. stock is currently trading down 1.3%, opening at $6.65 on Friday. The company has a market capitalization of $362.49 million and a price-to-earnings ratio of -8.01. Despite the decrease in stock price, Ares Commercial Real Estate Co. continues to be a significant player in the real estate investment trust sector.

In terms of financial performance, Ares Commercial Real Estate Co. recently reported its earnings results, with a lower-than-expected EPS of ($0.64) for the quarter. The company had revenue of $18.69 million, falling short of analyst estimates. However, the firm announced a quarterly dividend, indicating a commitment to shareholders.

Analyst ratings on Ares Commercial Real Estate Co. have been mixed, with some firms reducing their target prices and others maintaining a neutral rating. Despite this, the company has a consensus rating of “Hold” and an average price target of $8.42.

Overall, the increase in stake by Van ECK Associates Corp and the continued interest from other large investors, coupled with the company’s dividend announcement, make Ares Commercial Real Estate Co. a stock to watch in the real estate investment trust sector.