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

Ares Commercial Real Estate (NYSE:ACRE) had its price objective decreased by JPMorgan Chase & Co. from $7.00 to $6.00 in a research note issued to investors on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the real estate investment trust’s stock.

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

Ares Commercial Real Estate Stock Down 1.0 %

Shares of NYSE ACRE opened at $5.68 on Tuesday. Ares Commercial Real Estate has a 52-week low of $5.33 and a 52-week high of $10.53. 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 business has a fifty day moving average of $6.47 and a two-hundred day moving average of $6.83. The stock has a market cap of $309.51 million, a PE ratio of -4.81 and a beta of 1.51.

Ares Commercial Real Estate Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 17.62%. The ex-dividend date of this dividend was Tuesday, December 31st. Ares Commercial Real Estate’s dividend payout ratio is currently -84.75%.

Institutional Investors Weigh In On Ares Commercial Real Estate

A number of institutional investors and hedge funds have recently made changes to their positions in ACRE. JPMorgan Chase & Co. increased its position in Ares Commercial Real Estate by 187.3% in the third quarter. JPMorgan Chase & Co. now owns 415,332 shares of the real estate investment trust’s stock worth $2,907,000 after purchasing an additional 270,791 shares during the period. Geode Capital Management LLC boosted its stake in shares of Ares Commercial Real Estate by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,272,163 shares of the real estate investment trust’s stock valued at $8,907,000 after purchasing an additional 16,309 shares during the last quarter. FMR LLC grew its position in shares of Ares Commercial Real Estate by 211.0% during the 3rd quarter. FMR LLC now owns 7,741 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 5,252 shares during the period. State Street Corp grew 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 buying an additional 23,845 shares during the period. Finally, Barclays PLC raised its stake in shares of Ares Commercial Real Estate by 279.8% during the third quarter. Barclays PLC now owns 69,821 shares of the real estate investment trust’s stock worth $489,000 after buying an additional 51,435 shares during the last quarter. 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.