Keefe, Bruyette & Woods Lowers Ares Commercial Real Estate (NYSE:ACRE) Price Target to $5.50

Ares Commercial Real Estate (NYSE:ACRE) had its price objective decreased by equities researchers at Keefe, Bruyette & Woods from $6.00 to $5.50 in a note issued to investors 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 would indicate a potential upside of 8.80% from the company’s current price.

ACRE has been the subject of several other research reports. StockNews.com upgraded shares of Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research report on Tuesday, December 17th. JMP Securities reiterated a “market perform” rating on shares of Ares Commercial Real Estate in a research report on Thursday. Finally, JPMorgan Chase & Co. dropped their target price on shares of Ares Commercial Real Estate from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Tuesday, January 21st. Two analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $6.60.

Ares Commercial Real Estate Stock Down 0.5 %

NYSE:ACRE opened at $5.06 on Thursday. The stock’s fifty 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 company has a debt-to-equity ratio of 2.38, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market cap of $275.70 million, a price-to-earnings ratio of -4.28 and a beta of 1.50.

Insider Activity at Ares Commercial Real Estate

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

Hedge Funds Weigh In On Ares Commercial Real Estate

Large investors have recently added to or reduced their stakes in the company. Summit Securities Group LLC increased its holdings in 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 purchasing an additional 3,905 shares in the last quarter. FMR LLC increased its holdings in 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 worth $54,000 after purchasing an additional 5,252 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new position in shares of Ares Commercial Real Estate during the 4th quarter worth about $69,000. BNP Paribas Financial Markets boosted its stake in shares of Ares Commercial Real Estate by 17.1% during the 3rd 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 last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of Ares Commercial Real Estate by 160.9% during the 4th 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 last quarter. Institutional investors own 41.34% of the company’s stock.

About Ares Commercial Real Estate

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.