JPMorgan Chase & Co. Has Lowered Expectations for Ares Commercial Real Estate (NYSE:ACRE) Stock Price

Ares Commercial Real Estate (NYSE:ACRE) had its price target lowered by JPMorgan Chase & Co. from $6.00 to $5.50 in a research note issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 8.80% from the company’s previous close.

A number of other equities analysts have also recently commented on the company. Keefe, Bruyette & Woods lowered their target price on Ares Commercial Real Estate from $6.00 to $5.50 and set a “market perform” rating for the company in a report on Thursday. JMP Securities restated a “market perform” rating on shares of Ares Commercial Real Estate in a report on Thursday. Finally, StockNews.com upgraded Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a report on Tuesday, December 17th. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, Ares Commercial Real Estate currently has a consensus rating of “Hold” and an average price target of $6.60.

Ares Commercial Real Estate Stock Performance

NYSE ACRE opened at $5.06 on Thursday. The stock has a market cap of $275.70 million, a PE ratio of -4.28 and a beta of 1.50. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.38. Ares Commercial Real Estate has a twelve month low of $5.01 and a twelve month high of $8.59. The stock has a fifty day simple moving average of $6.02 and a 200-day simple moving average of $6.64.

Insider Buying and Selling at Ares Commercial Real Estate

In other news, VP Anton Feingold sold 7,615 shares of the firm’s stock in a transaction dated 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 approximately $445,084.80. This trade represents a 8.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ares Commercial Real Estate

Hedge funds and other institutional investors have recently made changes to their positions in the business. Summit Securities Group LLC raised its position in shares of Ares Commercial Real Estate by 139.7% during the 4th quarter. Summit Securities Group LLC now owns 6,700 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 3,905 shares in the last quarter. FMR LLC increased its position in Ares Commercial Real Estate by 211.0% during the third quarter. FMR LLC now owns 7,741 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 5,252 shares during the period. Brown Brothers Harriman & Co. acquired a new position in Ares Commercial Real Estate during the fourth quarter worth approximately $69,000. New York State Common Retirement Fund increased its position in Ares Commercial Real Estate by 160.9% during the fourth quarter. New York State Common Retirement Fund now owns 11,838 shares of the real estate investment trust’s stock worth $70,000 after buying an additional 7,300 shares during the period. Finally, BNP Paribas Financial Markets increased its position in Ares Commercial Real Estate by 17.1% during the third quarter. BNP Paribas Financial Markets now owns 11,733 shares of the real estate investment trust’s stock worth $82,000 after buying an additional 1,711 shares during the period. Institutional investors and hedge funds 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.