Ares Commercial Real Estate (NYSE:ACRE) Given New $5.50 Price Target at JPMorgan Chase & Co.

Ares Commercial Real Estate (NYSE:ACRE) had its price objective decreased by stock analysts at JPMorgan Chase & Co. from $6.00 to $5.50 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 5.67% from the stock’s previous close.

Several other equities analysts have also recently weighed in on ACRE. JMP Securities reissued a “market perform” rating on shares of Ares Commercial Real Estate in a research note on Thursday. Keefe, Bruyette & Woods cut their target price on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a “market perform” rating for the company in a research note on Thursday. Finally, StockNews.com upgraded Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research note on Tuesday, December 17th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.60.

Ares Commercial Real Estate Trading Down 2.7 %

Shares of Ares Commercial Real Estate stock traded down $0.15 during trading on Thursday, reaching $5.21. 418,299 shares of the company were exchanged, compared to its average volume of 572,403. The firm has a market capitalization of $283.88 million, a price-to-earnings ratio of -4.41 and a beta of 1.50. 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 business has a 50-day moving average price of $6.09 and a 200-day moving average price of $6.67. Ares Commercial Real Estate has a twelve month low of $5.14 and a twelve month high of $8.59.

Insider Buying and Selling at Ares Commercial Real Estate

In other news, VP Anton Feingold sold 7,615 shares of Ares Commercial Real Estate stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $5.68, for a total value of $43,253.20. Following the completion of the transaction, the vice president now directly owns 78,360 shares of the company’s stock, valued at approximately $445,084.80. This trade represents a 8.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Ares Commercial Real Estate

A number of hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its stake in shares of Ares Commercial Real Estate by 187.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 415,332 shares of the real estate investment trust’s stock valued at $2,907,000 after acquiring an additional 270,791 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Ares Commercial Real Estate by 1.3% during 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 period. FMR LLC boosted its holdings in Ares Commercial Real Estate by 211.0% in the third quarter. FMR LLC now owns 7,741 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 5,252 shares in the last quarter. State Street Corp lifted its holdings in shares of Ares Commercial Real Estate by 2.3% in 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 purchasing an additional 23,845 shares in the last quarter. Finally, Barclays PLC lifted its position in Ares Commercial Real Estate by 279.8% in the 3rd quarter. Barclays PLC now owns 69,821 shares of the real estate investment trust’s stock valued at $489,000 after acquiring an additional 51,435 shares in the last quarter. 41.34% of the stock is currently owned by institutional investors.

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.