Ares Commercial Real Estate (NYSE:ACRE) Given New $5.50 Price Target at JPMorgan Chase & Co.

Ares Commercial Real Estate (NYSE:ACRE) had its price target decreased by JPMorgan Chase & Co. from $6.00 to $5.50 in a research report released on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the real estate investment trust’s stock.

Other equities analysts have also issued reports about the stock. Keefe, Bruyette & Woods raised their price objective on shares of Ares Commercial Real Estate from $5.50 to $6.00 and gave the company an “outperform” rating in a research report on Wednesday, February 11th. Weiss Ratings restated a “sell (d+)” rating on shares of Ares Commercial Real Estate in a research report on Monday, December 29th. Zacks Research lowered shares of Ares Commercial Real Estate from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Finally, Wells Fargo & Company lifted their target price on shares of 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. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Ares Commercial Real Estate has an average rating of “Reduce” and a consensus price target of $5.38.

Ares Commercial Real Estate Trading Down 2.2%

ACRE stock opened at $5.16 on Thursday. The firm has a 50 day moving average of $5.02 and a 200-day moving average of $4.94. Ares Commercial Real Estate has a 12 month low of $3.44 and a 12 month high of $5.89. The firm has a market capitalization of $285.43 million, a P/E ratio of -257.75 and a beta of 1.20.

Ares Commercial Real Estate Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, March 31st. This represents a $0.60 annualized dividend and a yield of 11.6%. Ares Commercial Real Estate’s payout ratio is presently -3,000.00%.

Institutional Investors Weigh In On Ares Commercial Real Estate

Hedge funds have recently bought and sold shares of the stock. North Ground Capital bought a new stake in Ares Commercial Real Estate during the third quarter valued at approximately $5,222,000. Alpine Global Management LLC bought a new stake in Ares Commercial Real Estate during the third quarter valued at approximately $2,679,000. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Ares Commercial Real Estate by 24.4% during the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 564,209 shares of the real estate investment trust’s stock worth $2,545,000 after acquiring an additional 110,505 shares in the last quarter. Brooklyn Investment Group raised its stake in shares of Ares Commercial Real Estate by 210.0% during the third quarter. Brooklyn Investment Group now owns 10,955 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 7,421 shares in the last quarter. Finally, Strs Ohio purchased a new position in shares of Ares Commercial Real Estate during the first quarter worth approximately $47,000. 41.34% of the stock is currently owned by institutional investors.

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.