Ares Commercial Real Estate (NYSE:ACRE) Receives Market Perform Rating from JMP Securities

Ares Commercial Real Estate (NYSE:ACRE)‘s stock had its “market perform” rating reissued by JMP Securities in a research report issued to clients and investors on Monday,Benzinga reports.

A number of other equities research analysts have also recently weighed in on ACRE. Wells Fargo & Company cut Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $7.50 to $7.00 in a research note on Friday, September 20th. StockNews.com cut Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. decreased their price objective on Ares Commercial Real Estate from $7.00 to $6.50 and set a “neutral” rating on the stock in a report on Thursday, October 17th. Three equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $7.10.

Ares Commercial Real Estate Trading Up 0.3 %

Shares of Ares Commercial Real Estate stock opened at $7.13 on Monday. Ares Commercial Real Estate has a 12-month low of $6.25 and a 12-month high of $11.24. The business’s 50 day moving average is $6.82 and its 200-day moving average is $7.01. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.38. The stock has a market cap of $388.87 million, a P/E ratio of -6.04 and a beta of 1.48.

Institutional Trading of Ares Commercial Real Estate

Several large investors have recently modified their holdings of ACRE. Vanguard Group Inc. boosted its stake in Ares Commercial Real Estate by 1.3% in the first quarter. Vanguard Group Inc. now owns 2,783,379 shares of the real estate investment trust’s stock valued at $20,736,000 after buying an additional 34,611 shares in the last quarter. Geode Capital Management LLC raised its position in Ares Commercial Real Estate by 1.3% in the third 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. State Street Corp raised its position in Ares Commercial Real Estate by 2.3% in the third quarter. State Street Corp now owns 1,052,314 shares of the real estate investment trust’s stock valued at $7,627,000 after purchasing an additional 23,845 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in Ares Commercial Real Estate by 1.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 861,390 shares of the real estate investment trust’s stock valued at $6,030,000 after purchasing an additional 8,900 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in Ares Commercial Real Estate by 26.9% in the second 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 during the last quarter. 41.34% of the stock is 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.