5 Best Dividend Stocks to Buy Now According to Billionaire Jim Simons

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

Simons’ Stake Value: $2,540,000
Percentage of Jim Simons’ 13F Portfolio: 0.001%
Dividend Yield: 8.82%
No. of Hedge Fund Holders: 14

Ares Commercial Real Estate Corporation (NYSE: ACRE) is a company that operates in the specialty finance segment where it creates and invests in commercial real estate loans in the U.S. It recently announced a Q1 2021 dividend of $0.33 per share, consistent with the previous dividend payout. Ares Commercial Real Estate ranks third on the list of 10 best dividend stocks to buy now according to billionaire Jim Simons.

Earlier this month, Ares Commercial Real Estate Corporation announced that it launched an underwritten offering in which it publicly offered 7 million common stock shares. The underwriters will be granted the option of buying an additional 1.05 million shares. The net proceeds from the public offering will go towards general corporate purposes and drawing down the company’s debt.

BTG’s analyst Benjamin Zucker assigned a “Buy” rating to Ares Commercial Real Estate Corporation (NYSE: ACRE) and a $14.50 price target in February 2021. Keefe Bruyette and Woods’ analyst upgraded the stock to “Outperform” and set a price target of $10.50 in June 2020.