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 JPMorgan Chase & Co. from $8.00 to $7.00 in a research report released on Wednesday, Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

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

Ares Commercial Real Estate Trading Down 4.1 %

ACRE stock opened at $6.94 on Wednesday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 2.42. Ares Commercial Real Estate has a 12-month low of $6.81 and a 12-month high of $11.24. The stock has a market cap of $377.67 million, a price-to-earnings ratio of -9.64 and a beta of 1.41. The business’s 50-day moving average is $7.83 and its 200 day moving average is $9.19.

Ares Commercial Real Estate Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 16th. Shareholders of record on Thursday, March 28th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 14.41%. The ex-dividend date is Wednesday, March 27th. Ares Commercial Real Estate’s payout ratio is -138.89%.

Insider Buying and Selling at Ares Commercial Real Estate

In other Ares Commercial Real Estate news, VP Anton Feingold sold 5,890 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $10.37, for a total value of $61,079.30. Following the sale, the vice president now owns 68,975 shares of the company’s stock, valued at $715,270.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, VP Anton Feingold sold 5,890 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $10.37, for a total transaction of $61,079.30. Following the sale, the vice president now owns 68,975 shares of the company’s stock, valued at $715,270.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Bryan Patrick Donohoe acquired 3,509 shares of the business’s stock in a transaction dated Sunday, March 10th. The shares were bought at an average cost of $14.32 per share, for a total transaction of $50,248.88. Following the transaction, the chief executive officer now directly owns 41,259 shares of the company’s stock, valued at approximately $590,828.88. The disclosure for this purchase can be found here. 1.93% of the stock is owned by corporate insiders.

Institutional Trading of Ares Commercial Real Estate

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC purchased a new stake in shares of Ares Commercial Real Estate during the fourth quarter worth $29,000. Quarry LP purchased a new stake in shares of Ares Commercial Real Estate during the first quarter worth $31,000. Samalin Investment Counsel LLC purchased a new stake in shares of Ares Commercial Real Estate during the first quarter worth $50,000. Mango Five Family Inc. purchased a new stake in shares of Ares Commercial Real Estate during the fourth quarter worth $62,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Ares Commercial Real Estate by 190.9% during the first quarter. Tower Research Capital LLC TRC now owns 9,138 shares of the real estate investment trust’s stock worth $83,000 after purchasing an additional 5,997 shares in the last quarter. 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.