JPMorgan Chase & Co. Trims Ares Commercial Real Estate (NYSE:ACRE) Target Price to $6.50

Ares Commercial Real Estate (NYSE:ACRE) had its price objective cut by equities research analysts at JPMorgan Chase & Co. from $7.00 to $6.50 in a report issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 3.13% from the stock’s previous close.

ACRE has been the topic of several other reports. BTIG Research reissued a “neutral” rating on shares of Ares Commercial Real Estate in a report on Friday, July 19th. StockNews.com cut shares of Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a report on Thursday, August 15th. Finally, Wells Fargo & Company downgraded shares of Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $7.50 to $7.00 in a report on Friday, September 20th. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $7.10.

Ares Commercial Real Estate Stock Up 0.6 %

Shares of NYSE ACRE opened at $6.71 on Thursday. The firm has a 50-day simple moving average of $6.99 and a two-hundred day simple moving average of $7.01. Ares Commercial Real Estate has a 1 year low of $6.36 and a 1 year high of $11.24. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market cap of $365.74 million, a P/E ratio of -8.08 and a beta of 1.45.

Hedge Funds Weigh In On Ares Commercial Real Estate

Large investors have recently bought and sold shares of the business. Inspire Investing LLC lifted its position in shares of Ares Commercial Real Estate by 8.8% during the 3rd quarter. Inspire Investing LLC now owns 58,181 shares of the real estate investment trust’s stock worth $407,000 after buying an additional 4,714 shares during the last quarter. Strategic Wealth Partners Ltd. grew its position in Ares Commercial Real Estate by 11.1% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 20,000 shares of the real estate investment trust’s stock valued at $140,000 after buying an additional 2,000 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Ares Commercial Real Estate during the third quarter worth about $147,000. The Manufacturers Life Insurance Company raised its stake 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 worth $276,000 after buying an additional 2,769 shares in the last quarter. Finally, AQR Capital Management LLC purchased a new position in Ares Commercial Real Estate in the second quarter worth $122,000. Hedge funds and other institutional investors own 41.34% of the company’s stock.

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.