Ares Commercial Real Estate (NYSE:ACRE - Free Report) had its price objective trimmed by Keefe, Bruyette & Woods from $5.50 to $4.50 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a market perform rating on the real estate investment trust's stock.
ACRE has been the topic of a number of other research reports. JPMorgan Chase & Co. lowered their target price 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. JMP Securities reiterated a "market perform" rating on shares of Ares Commercial Real Estate in a research note on Thursday, February 13th. StockNews.com upgraded Ares Commercial Real Estate from a "sell" rating to a "hold" rating in a research report on Tuesday, December 17th. Finally, UBS Group cut their price objective on Ares Commercial Real Estate from $6.00 to $5.25 and set a "neutral" rating for the company in a report on Tuesday, February 25th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $5.56.
Get Our Latest Report on ACRE
Ares Commercial Real Estate Stock Performance
ACRE traded down $0.09 during trading on Monday, reaching $3.57. 743,165 shares of the company's stock were exchanged, compared to its average volume of 565,189. Ares Commercial Real Estate has a fifty-two week low of $3.35 and a fifty-two week high of $7.99. The company has a market capitalization of $195.57 million, a P/E ratio of -5.48 and a beta of 1.22. 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 business has a 50 day moving average price of $4.77 and a 200 day moving average price of $5.90.
Ares Commercial Real Estate Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.15 per share. The ex-dividend date is Monday, March 31st. This represents a $0.60 dividend on an annualized basis and a yield of 16.83%. Ares Commercial Real Estate's dividend payout ratio is -92.31%.
Insider Buying and Selling at Ares Commercial Real Estate
In other news, VP Anton Feingold sold 7,615 shares of the firm's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $5.68, for a total value of $43,253.20. Following the completion of the sale, the vice president now directly owns 78,360 shares in the company, 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 filing with the SEC, which is available through this link. Corporate insiders own 2.80% of the company's stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Intech Investment Management LLC bought a new position in shares of Ares Commercial Real Estate in the third quarter worth about $96,000. FMR LLC increased its holdings in shares of Ares Commercial Real Estate by 211.0% in the third quarter. FMR LLC now owns 7,741 shares of the real estate investment trust's stock valued at $54,000 after purchasing an additional 5,252 shares in the last quarter. 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. Centiva Capital LP acquired a new position in Ares Commercial Real Estate during the 3rd quarter worth $253,000. Finally, State Street Corp lifted its holdings in 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 buying an additional 23,845 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.
See Also
Before you consider Ares Commercial Real Estate, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ares Commercial Real Estate wasn't on the list.
While Ares Commercial Real Estate currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
