Keefe, Bruyette & Woods Has Lowered Expectations for Ares Commercial Real Estate (NYSE:ACRE) Stock Price

Ares Commercial Real Estate (NYSE:ACRE) had its price objective decreased by equities researchers at Keefe, Bruyette & Woods from $4.80 to $4.25 in a report issued on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ target price indicates a potential downside of 4.82% from the company’s current price.

A number of other brokerages also recently weighed in on ACRE. JMP Securities reissued a “market perform” rating on shares of Ares Commercial Real Estate in a research note on Monday, April 21st. UBS Group increased their price target on Ares Commercial Real Estate from $3.75 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $5.31.

Ares Commercial Real Estate Stock Performance

Ares Commercial Real Estate stock opened at $4.47 on Wednesday. The firm has a market cap of $245.62 million, a price-to-earnings ratio of -13.13, a PEG ratio of 1.67 and a beta of 1.33. Ares Commercial Real Estate has a 52-week low of $3.35 and a 52-week high of $7.83. The firm has a 50 day moving average price of $4.71 and a two-hundred day moving average price of $4.71.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC increased its stake in Ares Commercial Real Estate by 505.7% in the fourth quarter. Millennium Management LLC now owns 316,969 shares of the real estate investment trust’s stock valued at $1,867,000 after purchasing an additional 264,641 shares in the last quarter. Cura Wealth Advisors LLC boosted its position in shares of Ares Commercial Real Estate by 32.1% during the 1st quarter. Cura Wealth Advisors LLC now owns 963,485 shares of the real estate investment trust’s stock worth $4,461,000 after purchasing an additional 234,258 shares in the last quarter. Delphi Financial Group Inc. acquired a new stake in shares of Ares Commercial Real Estate in the 1st quarter valued at about $995,000. Jane Street Group LLC grew its stake in shares of Ares Commercial Real Estate by 267.2% in the 4th quarter. Jane Street Group LLC now owns 263,571 shares of the real estate investment trust’s stock valued at $1,552,000 after buying an additional 191,799 shares during the period. Finally, ExodusPoint Capital Management LP bought a new stake in Ares Commercial Real Estate in the 4th quarter valued at about $891,000. 41.34% of the stock is owned by institutional investors.

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.