Ares Commercial Real Estate (NYSE:ACRE) Given New $6.00 Price Target at Keefe, Bruyette & Woods

Ares Commercial Real Estate (NYSE:ACREGet Free Report) had its target price cut by investment analysts at Keefe, Bruyette & Woods from $7.00 to $6.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “market perform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 5.63% from the company’s previous close.

Other analysts also recently issued reports about the company. JMP Securities reiterated a “market perform” rating on shares of Ares Commercial Real Estate in a research report on Monday, December 9th. StockNews.com upgraded shares of Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research note on Tuesday, December 17th. Wells Fargo & Company lowered Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $7.50 to $7.00 in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. reduced 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. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.90.

Check Out Our Latest Research Report on Ares Commercial Real Estate

Ares Commercial Real Estate Stock Up 0.7 %

Shares of NYSE:ACRE opened at $5.68 on Tuesday. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.87 and a quick ratio of 0.87. The business has a 50 day simple moving average of $6.64 and a two-hundred day simple moving average of $6.87. Ares Commercial Real Estate has a 1 year low of $5.33 and a 1 year high of $10.53. The firm has a market capitalization of $309.80 million, a PE ratio of -4.81 and a beta of 1.51.

Institutional Investors Weigh In On Ares Commercial Real Estate

A number of large investors have recently bought and sold shares of ACRE. FMR LLC boosted its holdings in shares of Ares Commercial Real Estate by 211.0% in the 3rd quarter. FMR LLC now owns 7,741 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 5,252 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Ares Commercial Real Estate during the 2nd quarter valued at about $82,000. BNP Paribas Financial Markets raised its stake in shares of Ares Commercial Real Estate by 17.1% during the 3rd 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 during the last quarter. Quest Partners LLC boosted its stake in shares of Ares Commercial Real Estate by 1,329,500.0% in the second quarter. Quest Partners LLC now owns 13,296 shares of the real estate investment trust’s stock worth $88,000 after buying an additional 13,295 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Ares Commercial Real Estate during the third quarter worth about $96,000. Hedge funds and other institutional investors own 41.34% of the company’s stock.

About Ares Commercial Real Estate

(Get Free Report)

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.

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Analyst Recommendations for Ares Commercial Real Estate (NYSE:ACRE)

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