Ares Commercial Real Estate (NYSE:ACRE) Price Target Cut to $6.50 by Analysts at JPMorgan Chase & Co.

Ares Commercial Real Estate (NYSE:ACRE) had its price target cut by JPMorgan Chase & Co. from $7.00 to $6.50 in a report issued on Thursday, Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

ACRE has been the topic of a number of other reports. BTIG Research reiterated a “neutral” rating on shares of Ares Commercial Real Estate in a report on Friday, July 19th. StockNews.com cut Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a report on Thursday, August 15th. Finally, Wells Fargo & Company lowered Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $7.50 to $7.00 in a research note on Friday, September 20th. Three analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, Ares Commercial Real Estate has an average rating of “Hold” and a consensus price target of $7.10.

Ares Commercial Real Estate Trading Up 0.6 %

Shares of ACRE opened at $6.71 on Thursday. The firm has a market cap of $365.74 million, a P/E ratio of -8.08 and a beta of 1.45. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.87 and a quick ratio of 0.87. Ares Commercial Real Estate has a 1 year low of $6.36 and a 1 year high of $11.24. The company has a 50 day simple moving average of $6.99 and a two-hundred day simple moving average of $7.01.

Ares Commercial Real Estate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 14.90%. The ex-dividend date of this dividend was Monday, September 30th. Ares Commercial Real Estate’s dividend payout ratio (DPR) is presently -120.48%.

Institutional Investors Weigh In On Ares Commercial Real Estate

Several large investors have recently added to or reduced their stakes in ACRE. Vanguard Group Inc. boosted its holdings in shares of Ares Commercial Real Estate by 1.3% in the first quarter. Vanguard Group Inc. now owns 2,783,379 shares of the real estate investment trust’s stock valued at $20,736,000 after purchasing an additional 34,611 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Ares Commercial Real Estate by 11.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 790,404 shares of the real estate investment trust’s stock worth $5,889,000 after buying an additional 81,534 shares during the period. Van ECK Associates Corp grew its position in shares of Ares Commercial Real Estate by 26.9% during the 2nd quarter. Van ECK Associates Corp now owns 524,694 shares of the real estate investment trust’s stock worth $3,489,000 after buying an additional 111,194 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its position in shares of Ares Commercial Real Estate by 67.8% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 257,235 shares of the real estate investment trust’s stock worth $1,916,000 after buying an additional 103,902 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Ares Commercial Real Estate by 10.5% during the second quarter. Bank of New York Mellon Corp now owns 206,143 shares of the real estate investment trust’s stock valued at $1,371,000 after buying an additional 19,626 shares during the period. 41.34% of the stock is owned by hedge funds and other institutional investors.

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.