JPMorgan Chase & Co. Lowers Ares Commercial Real Estate (NYSE:ACRE) Price Target to $6.50

Ares Commercial Real Estate (NYSE:ACRE) had its price target decreased by equities researchers at JPMorgan Chase & Co. from $7.00 to $6.50 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 2.69% from the company’s current price.

A number of other analysts have also recently weighed in on ACRE. BTIG Research reaffirmed a “neutral” rating on shares of Ares Commercial Real Estate in a research note on Friday, July 19th. StockNews.com lowered shares of Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a report on Thursday, August 15th. Finally, Wells Fargo & Company lowered shares of Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $7.50 to $7.00 in a report on Friday, September 20th. Three equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $7.10.

Ares Commercial Real Estate Price Performance

NYSE:ACRE traded down $0.11 during mid-day trading on Thursday, reaching $6.68. The stock had a trading volume of 77,642 shares, compared to its average volume of 586,506. The stock has a 50-day simple moving average of $7.00 and a two-hundred day simple moving average of $7.01. The stock has a market capitalization of $364.11 million, a PE ratio of -8.06 and a beta of 1.45. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.87 and a quick ratio of 0.87. Ares Commercial Real Estate has a 12 month low of $6.36 and a 12 month high of $11.24.

Institutional Investors Weigh In On Ares Commercial Real Estate

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ameritas Advisory Services LLC bought a new stake in shares of Ares Commercial Real Estate during the second quarter worth about $68,000. EntryPoint Capital LLC bought a new stake in shares of Ares Commercial Real Estate during the first quarter worth about $84,000. XTX Topco Ltd bought a new stake in shares of Ares Commercial Real Estate during the second quarter worth about $82,000. Quest Partners LLC increased its position in shares of Ares Commercial Real Estate by 1,329,500.0% during the second quarter. Quest Partners LLC now owns 13,296 shares of the real estate investment trust’s stock worth $88,000 after acquiring an additional 13,295 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Ares Commercial Real Estate during the first quarter worth about $108,000. 41.34% of the stock is owned by institutional investors.

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.