JPMorgan Chase & Co. Cuts Ares Commercial Real Estate (NYSE:ACRE) Price Target to $6.00

Ares Commercial Real Estate (NYSE:ACRE) had its target price lowered by equities researchers at JPMorgan Chase & Co. from $7.00 to $6.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 1.15% from the stock’s current price.

Several other analysts also recently weighed in on ACRE. JMP Securities reiterated a “market perform” rating on shares of Ares Commercial Real Estate in a research note on Monday, December 9th. StockNews.com raised Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Ares Commercial Real Estate from $7.00 to $6.00 and set a “market perform” rating on the stock in a report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Ares Commercial Real Estate currently has an average rating of “Hold” and an average target price of $6.80.

Ares Commercial Real Estate Trading Up 2.1 %

NYSE:ACRE opened at $5.93 on Tuesday. The company has a market capitalization of $323.53 million, a P/E ratio of -5.03 and a beta of 1.51. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.38. Ares Commercial Real Estate has a 12 month low of $5.33 and a 12 month high of $10.53. The firm has a fifty day simple moving average of $6.55 and a 200-day simple moving average of $6.85.

Hedge Funds Weigh In On Ares Commercial Real Estate

Large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets increased its holdings in Ares Commercial Real Estate by 17.1% in the third quarter. BNP Paribas Financial Markets now owns 11,733 shares of the real estate investment trust’s stock valued at $82,000 after buying an additional 1,711 shares in the last quarter. Rhumbline Advisers grew its position in shares of Ares Commercial Real Estate by 2.1% during the 2nd quarter. Rhumbline Advisers now owns 86,466 shares of the real estate investment trust’s stock valued at $575,000 after acquiring an additional 1,797 shares during the period. Strategic Wealth Partners Ltd. increased its stake in shares of 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 purchasing an additional 2,000 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Ares Commercial Real Estate by 7.2% in 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 purchasing an additional 2,769 shares during the period. Finally, Victory Capital Management Inc. boosted its position in Ares Commercial Real Estate by 4.3% during the third quarter. Victory Capital Management Inc. now owns 88,093 shares of the real estate investment trust’s stock worth $617,000 after purchasing an additional 3,593 shares in the last quarter. 41.34% of the stock is currently owned by institutional investors and hedge funds.

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.