JPMorgan Chase & Co. Lowers Ares Commercial Real Estate (NYSE:ACRE) Price Target to $6.00

Ares Commercial Real Estate (NYSE:ACRE) had its price objective dropped by analysts at JPMorgan Chase & Co. from $7.00 to $6.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 4.82% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. JMP Securities reissued a “market perform” rating on shares of Ares Commercial Real Estate in a research note on Monday, December 9th. Keefe, Bruyette & Woods cut their target price on Ares Commercial Real Estate from $7.00 to $6.00 and set a “market perform” rating for the company in a research report on Tuesday, January 14th. Finally, StockNews.com upgraded Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research report on Tuesday, December 17th. Two analysts have rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $6.80.

Ares Commercial Real Estate Stock Down 3.3 %

Shares of ACRE stock opened at $5.72 on Tuesday. Ares Commercial Real Estate has a one year low of $5.33 and a one year high of $10.53. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a fifty day moving average price of $6.50 and a 200 day moving average price of $6.84. The stock has a market cap of $312.19 million, a P/E ratio of -4.85 and a beta of 1.51.

Institutional Investors Weigh In On Ares Commercial Real Estate

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACRE. BNP Paribas Financial Markets raised its position in shares of 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 acquiring an additional 1,711 shares during the last quarter. Rhumbline Advisers increased its position in Ares Commercial Real Estate by 2.1% in the second quarter. Rhumbline Advisers now owns 86,466 shares of the real estate investment trust’s stock worth $575,000 after purchasing an additional 1,797 shares during the period. Strategic Wealth Partners Ltd. raised its holdings in Ares Commercial Real Estate by 11.1% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 20,000 shares of the real estate investment trust’s stock worth $140,000 after purchasing an additional 2,000 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Ares Commercial Real Estate by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,492 shares of the real estate investment trust’s stock valued at $276,000 after purchasing an additional 2,769 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of Ares Commercial Real Estate by 4.3% in the 3rd quarter. Victory Capital Management Inc. now owns 88,093 shares of the real estate investment trust’s stock valued at $617,000 after purchasing an additional 3,593 shares during the last quarter. Institutional investors and hedge funds 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.