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

Ares Commercial Real Estate (NYSE:ACRE) had its price target decreased by JPMorgan Chase & Co. from $7.00 to $6.50 in a research report report published on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the real estate investment trust’s stock.

A number of other research firms also recently commented on ACRE. Wells Fargo & Company downgraded Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $7.50 to $7.00 in a report on Friday, September 20th. BTIG Research restated a “neutral” rating on shares of Ares Commercial Real Estate in a research report on Friday, July 19th. Finally, StockNews.com cut Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. Three research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $7.10.

Ares Commercial Real Estate Price Performance

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

Ares Commercial Real Estate Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 14.90%. The ex-dividend date of this dividend was Monday, September 30th. Ares Commercial Real Estate’s dividend payout ratio is presently -120.48%.

Institutional Trading of Ares Commercial Real Estate

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACRE. Prevail Innovative Wealth Advisors LLC purchased a new stake in Ares Commercial Real Estate in the 2nd quarter valued at about $894,000. Vanguard Group Inc. lifted its stake in shares of Ares Commercial Real Estate by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 2,783,379 shares of the real estate investment trust’s stock valued at $20,736,000 after purchasing an additional 34,611 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Ares Commercial Real Estate by 26.9% in the 2nd quarter. Van ECK Associates Corp now owns 524,694 shares of the real estate investment trust’s stock valued at $3,489,000 after purchasing an additional 111,194 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Ares Commercial Real Estate in the 1st quarter valued at about $108,000. Finally, Entropy Technologies LP acquired a new position in shares of Ares Commercial Real Estate in the 1st quarter valued at about $164,000. Hedge funds and other institutional investors own 41.34% of the company’s stock.

Ares Commercial Real Estate Company Profile

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.