Ares Commercial Real Estate (NYSE:ACRE - Get Free Report) had its price objective cut by analysts at Keefe, Bruyette & Woods from $6.00 to $5.50 in a report issued 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 stock's current price.
A number of other research firms also recently weighed in on ACRE. JPMorgan Chase & Co. decreased their price objective on Ares Commercial Real Estate from $7.00 to $6.00 and set a "neutral" rating on the stock in a report on Tuesday, January 21st. StockNews.com raised Ares Commercial Real Estate from a "sell" rating to a "hold" rating in a report on Tuesday, December 17th. Finally, JMP Securities reissued a "market perform" rating on shares of Ares Commercial Real Estate in a report on Thursday. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat, Ares Commercial Real Estate presently has a consensus rating of "Hold" and a consensus price target of $6.60.
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Ares Commercial Real Estate Price Performance
NYSE ACRE traded down $0.03 during trading on Thursday, reaching $5.06. 955,782 shares of the company traded hands, compared to its average volume of 465,078. 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 stock's 50 day moving average price is $6.02 and its two-hundred day moving average price is $6.62. The company has a market cap of $275.70 million, a price-to-earnings ratio of -4.28 and a beta of 1.50. Ares Commercial Real Estate has a 1-year low of $5.01 and a 1-year high of $8.59.
Insider Buying and Selling
In related news, VP Anton Feingold sold 7,615 shares of the business'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 value of $43,253.20. Following the completion of the transaction, the vice president now owns 78,360 shares in the company, valued at $445,084.80. The trade was a 8.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.80% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets raised its position in Ares Commercial Real Estate by 17.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,733 shares of the real estate investment trust's stock worth $82,000 after purchasing an additional 1,711 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Ares Commercial Real Estate by 3.9% during the 4th quarter. Wells Fargo & Company MN now owns 50,424 shares of the real estate investment trust's stock valued at $297,000 after acquiring an additional 1,905 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of 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 acquiring an additional 2,769 shares during the last quarter. Intech Investment Management LLC raised its position in shares of Ares Commercial Real Estate by 21.5% during the 4th quarter. Intech Investment Management LLC now owns 16,635 shares of the real estate investment trust's stock valued at $98,000 after acquiring an additional 2,943 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Ares Commercial Real Estate by 4.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 73,116 shares of the real estate investment trust's stock valued at $431,000 after acquiring an additional 2,982 shares during the last quarter. Institutional investors own 41.34% of the company's stock.
Ares Commercial Real Estate Company Profile
(
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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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