Ares Commercial Real Estate (NYSE:ACRE) Given New $5.50 Price Target at Keefe, Bruyette & Woods

Ares Commercial Real Estate (NYSE:ACRE) had its price objective reduced by Keefe, Bruyette & Woods from $6.00 to $5.50 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “market perform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 5.67% from the stock’s current price.

ACRE has been the topic of several other research reports. JPMorgan Chase & Co. cut their price target on shares of Ares Commercial Real Estate from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Tuesday, January 21st. JMP Securities reiterated a “market perform” rating on shares of Ares Commercial Real Estate in a research report on Thursday. Finally, StockNews.com upgraded shares of Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a report on Tuesday, December 17th. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $6.70.

Ares Commercial Real Estate Trading Down 2.7 %

ACRE traded down $0.15 during midday trading on Thursday, reaching $5.21. 240,609 shares of the company’s stock traded hands, compared to its average volume of 563,417. The stock has a market capitalization of $283.88 million, a price-to-earnings ratio of -4.41 and a beta of 1.50. Ares Commercial Real Estate has a 52 week low of $5.14 and a 52 week high of $8.59. The firm has a fifty day moving average of $6.09 and a two-hundred day moving average of $6.67. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.87 and a quick ratio of 0.87.

Insider Activity at Ares Commercial Real Estate

In other Ares Commercial Real Estate news, VP Anton Feingold sold 7,615 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $5.68, for a total value of $43,253.20. Following the sale, the vice president now directly owns 78,360 shares of the company’s stock, valued at approximately $445,084.80. The trade was a 8.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ares Commercial Real Estate

Several large investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in Ares Commercial Real Estate by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,272,163 shares of the real estate investment trust’s stock valued at $8,907,000 after purchasing an additional 16,309 shares in the last quarter. State Street Corp grew its holdings in shares of Ares Commercial Real Estate by 2.3% during the third quarter. State Street Corp now owns 1,052,314 shares of the real estate investment trust’s stock valued at $7,627,000 after buying an additional 23,845 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of Ares Commercial Real Estate by 1.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 861,390 shares of the real estate investment trust’s stock valued at $6,030,000 after acquiring an additional 8,900 shares in the last quarter. Van ECK Associates Corp raised its holdings in Ares Commercial Real Estate by 19.5% in the 4th quarter. Van ECK Associates Corp now owns 591,036 shares of the real estate investment trust’s stock worth $3,481,000 after acquiring an additional 96,551 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Ares Commercial Real Estate by 31.5% in the 4th quarter. JPMorgan Chase & Co. now owns 545,967 shares of the real estate investment trust’s stock valued at $3,216,000 after acquiring an additional 130,635 shares in the last quarter. Hedge funds and other institutional investors own 41.34% of the company’s stock.

Ares Commercial Real Estate Company Profile

Ares Commercial Real Estate Corporation, a specialty finance company, originates and invests in commercial real estate (CRE) loans and related investments in the United States. It provides a range of financing solutions for the owners, operators, and sponsors of CRE properties. The company originates senior mortgage loans, subordinate debt and preferred equity products, mezzanine loans, and other CRE investments, including commercial mortgage-backed securities.