5 Best Dividend Stocks with Over 8% Yield You Can Buy in September

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

Dividend Yield as of September 8: 10.23%

Up next on our list of top high dividend stocks is Ares Commercial Real Estate Corporation (NYSE:ACRE), which is an Illinois-based real estate investment trust company. In August, JMP Securities reiterated its Outperform rating on the stock with a $16.5 price target. The firm believes that the company’s book values will return to their pre-pandemic levels.

Ares Commercial Real Estate Corporation (NYSE:ACRE) reported strong quarterly results in Q2 2022. The company generated $25.1 million in revenues, which showed a 6.9% year-over-year growth. It ended the quarter with $25.6 million in cash and cash equivalents and roughly $2.7 billion in total assets. The company’s free cash flow for the quarter stood at nearly $13 million, up from $9.8 million during the same period last year.

In the past five years, Ares Commercial Real Estate Corporation (NYSE:ACRE) has raised its dividend at a CAGR of 4.48%. The company currently pays a quarterly dividend of $0.33 per share, with a dividend yield of 10.23%, as recorded on September 8.

As of the close of Q2 2022, 7 hedge funds tracked by Insider Monkey owned stakes worth over $23.6 million in Ares Commercial Real Estate Corporation (NYSE:ACRE). In the previous quarter, 5 hedge funds owned positions in the company, with stakes valued at over $7.3 million.