Wells Fargo & Company Initiates Coverage on Ares Commercial Real Estate (NYSE:ACRE)

Equities researchers at Wells Fargo & Company initiated coverage on shares of Ares Commercial Real Estate (NYSE:ACRE) in a report released on Wednesday, Marketbeat.com reports. The firm set an “equal weight” rating and a $10.00 price target on the real estate investment trust’s stock. Wells Fargo & Company‘s price target points to a potential downside of 3.66% from the stock’s current price.

Several other equities analysts have also issued reports on ACRE. JMP Securities upped their price target on Ares Commercial Real Estate from $11.00 to $11.50 and gave the company an “outperform” rating in a research note on Thursday, August 3rd. StockNews.com assumed coverage on Ares Commercial Real Estate in a report on Thursday, August 17th. They set a “hold” rating on the stock. Raymond James cut Ares Commercial Real Estate from an “outperform” rating to a “market perform” rating in a report on Friday, August 18th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. raised their target price on Ares Commercial Real Estate from $8.00 to $10.00 in a report on Monday, July 24th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $11.56.

Ares Commercial Real Estate Price Performance

Shares of ACRE stock opened at $10.38 on Wednesday. The stock’s fifty day moving average is $10.37 and its 200-day moving average is $9.72. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.36 and a current ratio of 1.36. The stock has a market capitalization of $561.93 million, a PE ratio of -103.80 and a beta of 1.39. Ares Commercial Real Estate has a 52 week low of $7.52 and a 52 week high of $13.39.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. UBS Group AG increased its holdings in shares of Ares Commercial Real Estate by 1.1% during the 1st quarter. UBS Group AG now owns 95,757 shares of the real estate investment trust’s stock worth $1,486,000 after acquiring an additional 999 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Ares Commercial Real Estate by 3.9% during the 3rd quarter. Alliancebernstein L.P. now owns 37,300 shares of the real estate investment trust’s stock valued at $390,000 after acquiring an additional 1,400 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Ares Commercial Real Estate by 1.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 138,944 shares of the real estate investment trust’s stock valued at $1,263,000 after acquiring an additional 1,433 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Ares Commercial Real Estate by 40.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 5,088 shares of the real estate investment trust’s stock worth $52,000 after buying an additional 1,462 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its holdings in shares of Ares Commercial Real Estate by 6.6% during the 1st quarter. Great West Life Assurance Co. Can now owns 25,266 shares of the real estate investment trust’s stock worth $394,000 after buying an additional 1,557 shares in the last quarter. Institutional investors and hedge funds own 38.37% of the company’s stock.

About Ares Commercial Real Estate

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.