JMP Securities Reaffirms Market Perform Rating for Ares Commercial Real Estate (NYSE:ACRE)

Ares Commercial Real Estate (NYSE:ACRE)‘s stock had its “market perform” rating reaffirmed by investment analysts at JMP Securities in a research note issued to investors on Thursday,Benzinga reports.

Several other brokerages have also recently issued reports on ACRE. JPMorgan Chase & Co. cut their price objective on Ares Commercial Real Estate from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 21st. StockNews.com upgraded Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, Keefe, Bruyette & Woods dropped their price target on Ares Commercial Real Estate from $7.00 to $6.00 and set a “market perform” rating on the stock in a research report on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $6.60.

Ares Commercial Real Estate Trading Down 0.5 %

Shares of NYSE ACRE opened at $5.06 on Thursday. The stock’s 50 day moving average price is $6.02 and its two-hundred day moving average price is $6.64. Ares Commercial Real Estate has a 52-week low of $5.01 and a 52-week high of $8.59. The stock has a market capitalization of $275.70 million, a P/E ratio of -4.28 and a beta of 1.50. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.38.

Insider Buying and Selling at Ares Commercial Real Estate

In other Ares Commercial Real Estate news, VP Anton Feingold sold 7,615 shares of Ares Commercial Real Estate stock in a transaction on Friday, January 31st. The stock was sold at an average price of $5.68, for a total transaction of $43,253.20. Following the sale, the vice president now owns 78,360 shares of the company’s stock, valued at $445,084.80. The trade was a 8.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ares Commercial Real Estate

Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of Ares Commercial Real Estate by 187.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 415,332 shares of the real estate investment trust’s stock valued at $2,907,000 after purchasing an additional 270,791 shares during the period. Geode Capital Management LLC increased its position in shares of 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 during the period. FMR LLC increased its position in shares of Ares Commercial Real Estate by 211.0% during the 3rd quarter. FMR LLC now owns 7,741 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 5,252 shares during the period. State Street Corp grew its holdings in shares of Ares Commercial Real Estate by 2.3% in the 3rd quarter. State Street Corp now owns 1,052,314 shares of the real estate investment trust’s stock worth $7,627,000 after acquiring an additional 23,845 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of Ares Commercial Real Estate by 279.8% in the 3rd quarter. Barclays PLC now owns 69,821 shares of the real estate investment trust’s stock worth $489,000 after acquiring an additional 51,435 shares during the last quarter. 41.34% of the stock is currently 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.