Ares Commercial Real Estate (NYSE:ACRE) Price Target Cut to $7.00 by Analysts at JPMorgan Chase & Co.

Ares Commercial Real Estate (NYSE:ACRE) had its price target reduced by research analysts at JPMorgan Chase & Co. from $8.00 to $7.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 1.06% from the stock’s current price.

Other analysts also recently issued reports about the company. Keefe, Bruyette & Woods decreased their price objective on Ares Commercial Real Estate from $10.25 to $8.00 and set a “market perform” rating for the company in a report on Monday, February 26th. Bank of America reissued an “underperform” rating and issued a $7.00 price target (down previously from $11.00) on shares of Ares Commercial Real Estate in a research note on Monday, March 4th. UBS Group cut their price objective on Ares Commercial Real Estate from $10.50 to $8.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 20th. Finally, TheStreet cut Ares Commercial Real Estate from a “c-” rating to a “d+” rating in a report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $8.79.

Ares Commercial Real Estate Trading Up 1.9 %

ACRE opened at $7.08 on Wednesday. The company’s 50 day moving average price is $7.78 and its two-hundred day moving average price is $9.17. The firm has a market capitalization of $385.02 million, a price-to-earnings ratio of -9.83 and a beta of 1.41. Ares Commercial Real Estate has a fifty-two week low of $6.81 and a fifty-two week high of $11.24. The company has a debt-to-equity ratio of 2.42, a current ratio of 1.43 and a quick ratio of 1.43.

Insider Buying and Selling at Ares Commercial Real Estate

In other Ares Commercial Real Estate news, VP Anton Feingold sold 5,890 shares of Ares Commercial Real Estate stock in a transaction on Monday, January 29th. The shares were sold at an average price of $10.37, for a total transaction of $61,079.30. Following the transaction, the vice president now directly owns 68,975 shares of the company’s stock, valued at approximately $715,270.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Anton Feingold sold 5,890 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $10.37, for a total transaction of $61,079.30. Following the completion of the sale, the vice president now owns 68,975 shares in the company, valued at $715,270.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Bryan Patrick Donohoe sold 18,868 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $10.32, for a total transaction of $194,717.76. Following the completion of the transaction, the chief executive officer now owns 197,414 shares in the company, valued at $2,037,312.48. The disclosure for this sale can be found here. Insiders own 1.93% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ACRE. GAMMA Investing LLC purchased a new stake in Ares Commercial Real Estate during the fourth quarter valued at about $29,000. Samalin Investment Counsel LLC purchased a new stake in shares of Ares Commercial Real Estate during the first quarter worth $50,000. Quarry LP bought a new position in shares of Ares Commercial Real Estate in the first quarter worth $31,000. Mango Five Family Inc. purchased a new position in shares of Ares Commercial Real Estate in the fourth quarter valued at $62,000. Finally, Worth Asset Management LLC bought a new stake in shares of Ares Commercial Real Estate during the 1st quarter valued at $97,000. Hedge funds and other institutional investors own 41.34% of the company’s stock.

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.