Ares Commercial Real Estate (NYSE:ACRE - Free Report) had its target price trimmed by UBS Group from $5.25 to $3.75 in a report issued on Wednesday morning, Marketbeat reports. The brokerage currently has a neutral rating on the real estate investment trust's stock.
A number of other brokerages have also recently commented on ACRE. JPMorgan Chase & Co. dropped their price target on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. 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. JMP Securities reissued a "market perform" rating on shares of Ares Commercial Real Estate in a report on Thursday, February 13th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Ares Commercial Real Estate from $5.50 to $4.50 and set a "market perform" rating on the stock in a research note on Monday, April 7th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $5.19.
Get Our Latest Report on Ares Commercial Real Estate
Ares Commercial Real Estate Stock Performance
Ares Commercial Real Estate stock traded up $0.12 during midday trading on Wednesday, reaching $3.62. The stock had a trading volume of 802,938 shares, compared to its average volume of 564,100. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.17. The firm has a market capitalization of $198.31 million, a PE ratio of -5.56 and a beta of 1.22. Ares Commercial Real Estate has a 12 month low of $3.35 and a 12 month high of $7.99. The firm's 50-day moving average price is $4.54 and its 200 day moving average price is $5.78.
Ares Commercial Real Estate Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.15 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 16.60%. Ares Commercial Real Estate's payout ratio is -92.31%.
Insider Activity at Ares Commercial Real Estate
In related news, VP Anton Feingold sold 7,615 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The stock was 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 in the company, valued at $445,084.80. This trade represents a 8.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is owned by insiders.
Institutional Trading of Ares Commercial Real Estate
Hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its position in shares of Ares Commercial Real Estate by 187.3% in the third quarter. JPMorgan Chase & Co. now owns 415,332 shares of the real estate investment trust's stock valued at $2,907,000 after acquiring an additional 270,791 shares during the period. Raymond James Financial Inc. bought a new position in Ares Commercial Real Estate during the 4th quarter valued at approximately $430,000. Geode Capital Management LLC boosted its position in Ares Commercial Real Estate by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,272,163 shares of the real estate investment trust's stock valued at $8,907,000 after acquiring an additional 16,309 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Ares Commercial Real Estate by 19.5% during the 4th quarter. Van ECK Associates Corp now owns 591,036 shares of the real estate investment trust's stock worth $3,481,000 after acquiring an additional 96,551 shares during the period. Finally, FMR LLC raised its position in shares of Ares Commercial Real Estate by 211.0% in the 3rd quarter. FMR LLC now owns 7,741 shares of the real estate investment trust's stock worth $54,000 after acquiring an additional 5,252 shares in the last quarter. Institutional investors own 41.34% of the company's stock.
About Ares Commercial Real Estate
(
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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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