Ares Commercial Real Estate (NYSE:ACRE) Price Target Lowered to $3.75 at UBS Group

Ares Commercial Real Estate (NYSE:ACRE) had its target price lowered by UBS Group from $5.25 to $3.75 in a report issued on Wednesday morning, Marketbeat Ratings reports. The firm currently has a neutral rating on the real estate investment trust’s stock.

A number of other research firms have also recently commented on ACRE. StockNews.com upgraded shares of Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a report on Tuesday, December 17th. Keefe, Bruyette & Woods reduced their target price on shares of Ares Commercial Real Estate from $5.50 to $4.50 and set a “market perform” rating on the stock in a research report on Monday, April 7th. JPMorgan Chase & Co. decreased their price target on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Finally, JMP Securities reissued a “market perform” rating on shares of Ares Commercial Real Estate in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $5.19.

Ares Commercial Real Estate Stock Performance

Shares of Ares Commercial Real Estate stock opened at $3.52 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.17. The stock’s fifty day moving average is $4.64 and its two-hundred day moving average is $5.83. Ares Commercial Real Estate has a 52 week low of $3.35 and a 52 week high of $7.99. The company has a market capitalization of $193.10 million, a PE ratio of -5.42 and a beta of 1.22.

Ares Commercial Real Estate Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.15 per share. The ex-dividend date was Monday, March 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 17.05%. Ares Commercial Real Estate’s dividend payout ratio is presently -92.31%.

Insider Buying and Selling at Ares Commercial Real Estate

In related news, VP Anton Feingold sold 7,615 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $5.68, for a total transaction of $43,253.20. Following the completion of the sale, the vice president now directly owns 78,360 shares in the company, valued at $445,084.80. This represents a 8.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Ares Commercial Real Estate

A number of large investors have recently added to or reduced their stakes in ACRE. Summit Securities Group LLC boosted its holdings in shares of Ares Commercial Real Estate by 139.7% in the 4th quarter. Summit Securities Group LLC now owns 6,700 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 3,905 shares in the last quarter. FMR LLC lifted its position in Ares Commercial Real Estate by 211.0% during the third 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. McIlrath & Eck LLC acquired a new stake in Ares Commercial Real Estate in the fourth quarter valued at approximately $54,000. Brown Brothers Harriman & Co. purchased a new position in Ares Commercial Real Estate in the fourth quarter worth $69,000. Finally, New York State Common Retirement Fund increased its position in shares of Ares Commercial Real Estate by 160.9% during the fourth quarter. New York State Common Retirement Fund now owns 11,838 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 7,300 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.