Ares Commercial Real Estate (NYSE:ACRE) Price Target Lowered to $5.50 at Keefe, Bruyette & Woods
Ares Commercial Real Estate (NYSE:ACRE – Get Free Report) had its target price decreased by investment analysts at Keefe, Bruyette & Woods from $6.00 to $5.50 in a report released 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 points to a potential upside of 8.80% from the stock’s previous close.
ACRE has been the subject of several other reports. JPMorgan Chase & Co. cut 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 note on Tuesday, January 21st. JMP Securities reiterated a “market perform” rating on shares of Ares Commercial Real Estate in a research note on Thursday. Finally, StockNews.com upgraded shares of Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research note on Tuesday, December 17th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $6.60.
View Our Latest Stock Analysis on Ares Commercial Real Estate
Ares Commercial Real Estate Trading Down 0.5 %
Ares Commercial Real Estate stock opened at $5.06 on Thursday. The firm has a 50-day moving average of $6.02 and a 200-day moving average of $6.64. Ares Commercial Real Estate has a one year low of $5.01 and a one year high of $8.59. 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 company has a market cap of $275.70 million, a price-to-earnings ratio of -4.28 and a beta of 1.50.
Insiders Place Their Bets
In other news, VP Anton Feingold sold 7,615 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $5.68, for a total transaction of $43,253.20. Following the transaction, the vice president now directly owns 78,360 shares of the company’s stock, valued at approximately $445,084.80. This trade represents a 8.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.80% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC increased its holdings in shares of Ares Commercial Real Estate by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,272,163 shares of the real estate investment trust’s stock worth $8,907,000 after purchasing an additional 16,309 shares during the period. State Street Corp increased its holdings in shares of Ares Commercial Real Estate by 2.3% during the third quarter. State Street Corp now owns 1,052,314 shares of the real estate investment trust’s stock worth $7,627,000 after purchasing an additional 23,845 shares during the period. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Ares Commercial Real Estate by 1.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 861,390 shares of the real estate investment trust’s stock worth $6,030,000 after purchasing an additional 8,900 shares during the period. Northern Trust Corp increased its holdings in shares of Ares Commercial Real Estate by 32.3% during the fourth quarter. Northern Trust Corp now owns 605,491 shares of the real estate investment trust’s stock worth $3,566,000 after purchasing an additional 147,990 shares during the period. Finally, Van ECK Associates Corp increased its holdings in shares of Ares Commercial Real Estate by 19.5% during the fourth quarter. Van ECK Associates Corp now owns 591,036 shares of the real estate investment trust’s stock worth $3,481,000 after purchasing an additional 96,551 shares during the period. 41.34% of the stock is owned by institutional investors.
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.
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