Ares Commercial Real Estate Corp (NYSE:ACRE) Shares Purchased by Millennium Management LLC

Millennium Management LLC boosted its stake in Ares Commercial Real Estate Corp (NYSE:ACRE) by 523.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 494,725 shares of the real estate investment trust’s stock after acquiring an additional 415,411 shares during the quarter. Millennium Management LLC owned about 1.71% of Ares Commercial Real Estate worth $7,534,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Russell Investments Group Ltd. increased its position in shares of Ares Commercial Real Estate by 21.9% during the second quarter. Russell Investments Group Ltd. now owns 64,019 shares of the real estate investment trust’s stock worth $939,000 after acquiring an additional 11,510 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in Ares Commercial Real Estate by 16.3% in the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 186,000 shares of the real estate investment trust’s stock valued at $2,764,000 after purchasing an additional 26,000 shares during the last quarter. Nuveen Asset Management LLC acquired a new stake in Ares Commercial Real Estate during the 2nd quarter valued at approximately $6,194,000. Vanguard Group Inc. grew its stake in Ares Commercial Real Estate by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 1,338,523 shares of the real estate investment trust’s stock valued at $19,891,000 after purchasing an additional 20,904 shares in the last quarter. Finally, Alberta Investment Management Corp acquired a new stake in Ares Commercial Real Estate during the 3rd quarter valued at approximately $356,000. Hedge funds and other institutional investors own 62.83% of the company’s stock.

Separately, Zacks Investment Research raised Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research report on Tuesday, December 3rd.

Shares of NYSE:ACRE opened at $15.60 on Tuesday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 2.75. The company has a fifty day simple moving average of $15.44 and a 200 day simple moving average of $15.23. The firm has a market cap of $450.88 million, a PE ratio of 11.57 and a beta of 0.58. Ares Commercial Real Estate Corp has a 12-month low of $12.75 and a 12-month high of $15.84.

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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