Ares Commercial Real Estate (NYSE:ACRE) Price Target Cut to $5.50 by Analysts at JPMorgan Chase & Co.

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

Other research analysts have also issued reports about the stock. StockNews.com raised shares of Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research note on Tuesday, December 17th. Keefe, Bruyette & Woods decreased their target price on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a “market perform” rating on the stock in a research note on Thursday. Finally, JMP Securities reissued a “market perform” rating on shares of Ares Commercial Real Estate in a research note on Thursday. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, Ares Commercial Real Estate has an average rating of “Hold” and an average price target of $6.60.

Ares Commercial Real Estate Trading Down 5.1 %

Shares of Ares Commercial Real Estate stock opened at $5.08 on Thursday. The firm has a market capitalization of $276.79 million, a PE ratio of -4.30 and a beta of 1.50. Ares Commercial Real Estate has a twelve month low of $5.01 and a twelve month high of $8.59. The firm’s 50-day moving average price is $6.06 and its 200 day moving average price is $6.65. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.38.

Ares Commercial Real Estate Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.15 per share. The ex-dividend date is Monday, March 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 11.82%. Ares Commercial Real Estate’s dividend payout ratio is currently -84.75%.

Insider Transactions at Ares Commercial Real Estate

In other news, VP Anton Feingold sold 7,615 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $5.68, for a total transaction of $43,253.20. Following the completion of the sale, the vice president now owns 78,360 shares in the company, valued at $445,084.80. This trade represents a 8.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.80% of the company’s stock.

Institutional Trading of Ares Commercial Real Estate

Several institutional investors have recently added to or reduced their stakes in ACRE. JPMorgan Chase & Co. increased its holdings in Ares Commercial Real Estate by 187.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 415,332 shares of the real estate investment trust’s stock valued at $2,907,000 after purchasing an additional 270,791 shares during the last quarter. ExodusPoint Capital Management LP acquired a new stake in Ares Commercial Real Estate in the 4th quarter valued at approximately $891,000. Van ECK Associates Corp increased its holdings in Ares Commercial Real Estate by 19.5% in the 4th quarter. Van ECK Associates Corp now owns 591,036 shares of the real estate investment trust’s stock valued at $3,481,000 after purchasing an additional 96,551 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Ares Commercial Real Estate in the 4th quarter valued at approximately $430,000. Finally, Commonwealth Equity Services LLC increased its holdings in Ares Commercial Real Estate by 421.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 73,551 shares of the real estate investment trust’s stock valued at $433,000 after purchasing an additional 59,445 shares during the last quarter. Institutional investors and hedge funds own 41.34% 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.