Keefe, Bruyette & Woods Cuts Ares Commercial Real Estate (NYSE:ACRE) Price Target to $5.50

Ares Commercial Real Estate (NYSE:ACRE) had its price target reduced by Keefe, Bruyette & Woods from $6.00 to $5.50 in a research report report published on Wednesday,Benzinga reports. They currently have an outperform rating on the real estate investment trust’s stock.

Several other research firms also recently weighed in on ACRE. Wells Fargo & Company lifted their target price on Ares Commercial Real Estate from $4.00 to $5.00 and gave the company an “underweight” rating in a research report on Thursday, February 12th. Zacks Research downgraded Ares Commercial Real Estate from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Weiss Ratings reissued a “sell (d)” rating on shares of Ares Commercial Real Estate in a research report on Monday. Finally, JPMorgan Chase & Co. lowered their price objective on Ares Commercial Real Estate from $6.00 to $5.50 and set a “neutral” rating for the company in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Ares Commercial Real Estate currently has an average rating of “Reduce” and a consensus price target of $5.25.

Ares Commercial Real Estate Price Performance

NYSE ACRE opened at $4.60 on Wednesday. The company has a market cap of $255.43 million, a P/E ratio of -12.79 and a beta of 1.18. The stock has a 50-day moving average of $5.00 and a two-hundred day moving average of $5.01. Ares Commercial Real Estate has a 1-year low of $4.05 and a 1-year high of $5.89.

Ares Commercial Real Estate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.15 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.60 annualized dividend and a yield of 13.0%. Ares Commercial Real Estate’s payout ratio is presently -166.67%.

Hedge Funds Weigh In On Ares Commercial Real Estate

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sei Investments Co. boosted its holdings in Ares Commercial Real Estate by 88.8% in the first quarter. Sei Investments Co. now owns 84,596 shares of the real estate investment trust’s stock valued at $406,000 after purchasing an additional 39,800 shares in the last quarter. State of Wyoming acquired a new position in Ares Commercial Real Estate in the first quarter valued at approximately $199,000. Castleview Partners LLC acquired a new position in Ares Commercial Real Estate in the first quarter valued at approximately $119,000. Abel Hall LLC boosted its holdings in Ares Commercial Real Estate by 61.1% in the first quarter. Abel Hall LLC now owns 51,216 shares of the real estate investment trust’s stock valued at $246,000 after purchasing an additional 19,420 shares in the last quarter. Finally, Corient Private Wealth LLC acquired a new position in Ares Commercial Real Estate in the fourth quarter valued at approximately $64,000. 41.34% of the stock is owned by institutional investors and hedge funds.

Ares Commercial Real Estate Company Profile

Ares Commercial Real Estate Corporation (NYSE: ACRE) is a publicly traded real estate investment trust (REIT) primarily focused on commercial real estate debt investments. Externally managed by an affiliate of Ares Management Corporation, ACRE seeks to generate attractive risk-adjusted returns through its diversified portfolio of CRE financing strategies. The company specializes in originating, acquiring, financing and managing first mortgages, mezzanine loans, preferred equity and other structured finance products.

Since its inception, Ares Commercial Real Estate has targeted a broad range of property types, including multifamily, office, industrial, retail and hospitality assets.