Ares Commercial Real Estate (NYSE:ACRE - Get Free Report) had its price target cut by equities researchers at JPMorgan Chase & Co. from $6.00 to $5.50 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the real estate investment trust's stock. JPMorgan Chase & Co.'s price target points to a potential upside of 8.80% from the company's current price.
Other research analysts also recently issued reports about the company. JMP Securities reiterated a "market perform" rating on shares of Ares Commercial Real Estate in a report on Thursday. StockNews.com raised shares of Ares Commercial Real Estate from a "sell" rating to a "hold" rating in a research note on Tuesday, December 17th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a "market perform" rating on the stock in a research report on Thursday. Two analysts have rated the stock with a sell rating and six have given a hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $6.60.
Check Out Our Latest Research Report on ACRE
Ares Commercial Real Estate Stock Down 0.5 %
ACRE traded down $0.03 during trading on Thursday, hitting $5.06. The company had a trading volume of 955,782 shares, compared to its average volume of 465,078. The company has a market capitalization of $275.70 million, a PE ratio of -4.28 and a beta of 1.50. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.38. Ares Commercial Real Estate has a one year low of $5.01 and a one year high of $8.59. The firm's 50-day moving average price is $6.02 and its 200 day moving average price is $6.62.
Insider Buying and Selling at Ares Commercial Real Estate
In other news, VP Anton Feingold sold 7,615 shares of the business'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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.80% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in ACRE. Geode Capital Management LLC lifted its position in 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 boosted its position in shares of Ares Commercial Real Estate by 2.3% during the 3rd quarter. State Street Corp now owns 1,052,314 shares of the real estate investment trust's stock worth $7,627,000 after acquiring an additional 23,845 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in Ares Commercial Real Estate by 1.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 861,390 shares of the real estate investment trust's stock valued at $6,030,000 after acquiring an additional 8,900 shares during the last quarter. Northern Trust Corp lifted its stake in 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 last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Ares Commercial Real Estate by 19.5% in the 4th quarter. Van ECK Associates Corp now owns 591,036 shares of the real estate investment trust's stock valued at $3,481,000 after purchasing an additional 96,551 shares in the last quarter. Institutional investors and hedge funds own 41.34% of the company's stock.
Ares Commercial Real Estate Company Profile
(
Get Free Report)
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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