Keefe, Bruyette & Woods Cuts Ares Commercial Real Estate (NYSE:ACRE) Price Target to $6.00

Ares Commercial Real Estate (NYSE:ACRE) had its price target decreased by research analysts at Keefe, Bruyette & Woods from $7.00 to $6.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “market perform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 7.33% from the company’s current price.

Other research analysts have also issued research reports about the company. JMP Securities restated a “market perform” rating on shares of Ares Commercial Real Estate in a report on Monday, December 9th. JPMorgan Chase & Co. reduced their price target on Ares Commercial Real Estate from $7.00 to $6.50 and set a “neutral” rating on the stock in a report on Thursday, October 17th. StockNews.com upgraded Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, Wells Fargo & Company lowered Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $7.50 to $7.00 in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $6.90.

Ares Commercial Real Estate Price Performance

ACRE stock traded up $0.16 during midday trading on Tuesday, reaching $5.59. The stock had a trading volume of 206,707 shares, compared to its average volume of 534,468. The company’s fifty day simple moving average is $6.66 and its 200 day simple moving average is $6.88. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.38. The company has a market cap of $304.89 million, a price-to-earnings ratio of -4.74 and a beta of 1.51. Ares Commercial Real Estate has a 52-week low of $5.33 and a 52-week high of $10.53.

Hedge Funds Weigh In On Ares Commercial Real Estate

Several institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in Ares Commercial Real Estate by 187.3% during the third quarter. JPMorgan Chase & Co. now owns 415,332 shares of the real estate investment trust’s stock worth $2,907,000 after purchasing an additional 270,791 shares during the last quarter. Barclays PLC lifted its stake in Ares Commercial Real Estate by 279.8% during the third quarter. Barclays PLC now owns 69,821 shares of the real estate investment trust’s stock worth $489,000 after purchasing an additional 51,435 shares during the last quarter. Centiva Capital LP purchased a new stake in Ares Commercial Real Estate during the third quarter worth approximately $253,000. Penserra Capital Management LLC lifted its stake in Ares Commercial Real Estate by 23.0% during the third quarter. Penserra Capital Management LLC now owns 149,365 shares of the real estate investment trust’s stock worth $1,045,000 after purchasing an additional 27,900 shares during the last quarter. Finally, State Street Corp lifted its stake in 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 worth $7,627,000 after purchasing an additional 23,845 shares during the last quarter. 41.34% of the stock is owned by institutional investors and hedge funds.

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.