5 Best Dividend Stocks to Buy According to Frank Fu’s CaaS Capital

2. Ares Commercial Real Estate Corporation (NYSE: ACRE)

Fu’s Stake Value: $2,523,000
Percentage of Frank Fu’s 13F Portfolio: 0.02%
Dividend Yield: 9.04%
Number of Hedge Fund Holders: 14

Ares Commercial Real Estate Corporation (NYSE: ACRE) functions as a finance company and serves customers in the United States. The company was incorporated in 2011 and is ranked second on the list of 10 best dividend stocks to buy according to Frank Fu’s CaaS Capital. Ares Commercial currently has a $678.7 million market capitalization. It delivered a 77.78% return in the past 12 months.

On June 18, Ares Commercial proclaimed a public offering of 6.5 million common stock for total evaluated gross proceeds of ~$102.8 million. Net proceeds will be used for general corporate purposes and for repaying debts. On May 4, Ares Commercial Real Estate Corporation (NYSE: ACRE) declared a quarterly dividend of $0.33 per share, in line with the previous. On April 26, JPMorgan analyst Charles Arestia initiated a coverage on the stock, rating it as “Neutral,” and raised the price target to $13.50 from $12.50.

CaaS Capital owns 183,897 shares of the company, worth $2.52 million. Ares Commercial Real Estate Corporation (NYSE: ACRE) is also getting the attention of the smart money, as 14 hedge funds tracked by Insider Monkey reported owning stakes in the company in the first quarter of 2021, up from 8 funds a quarter earlier.