Ares Commercial Real Estate (NYSE:ACRE) Earns Market Perform Rating from JMP Securities

Ares Commercial Real Estate (NYSE:ACRE)‘s stock had its “market perform” rating reaffirmed by equities research analysts at JMP Securities in a research report issued on Thursday,Benzinga reports.

Several other analysts also recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on Ares Commercial Real Estate from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 21st. StockNews.com raised Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, Keefe, Bruyette & Woods reduced their price objective on Ares Commercial Real Estate from $7.00 to $6.00 and set a “market perform” rating on the stock in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.80.

Ares Commercial Real Estate Price Performance

ACRE traded down $0.15 on Thursday, hitting $5.21. 174,856 shares of the company’s stock traded hands, compared to its average volume of 563,179. The company’s 50 day simple moving average is $6.09 and its 200-day simple moving average is $6.67. The firm has a market cap of $283.88 million, a price-to-earnings ratio of -4.41 and a beta of 1.50. Ares Commercial Real Estate has a one year low of $5.14 and a one year high of $8.59. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.38.

Insider Transactions at Ares Commercial Real Estate

In other news, VP Anton Feingold sold 7,615 shares of Ares Commercial Real Estate stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $5.68, for a total value of $43,253.20. Following the completion of the transaction, the vice president now owns 78,360 shares in the company, valued at approximately $445,084.80. The trade was a 8.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Ares Commercial Real Estate

Institutional investors and hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN boosted its holdings in Ares Commercial Real Estate by 3.9% during the 4th quarter. Wells Fargo & Company MN now owns 50,424 shares of the real estate investment trust’s stock valued at $297,000 after acquiring an additional 1,905 shares during the period. ExodusPoint Capital Management LP purchased a new stake in shares of Ares Commercial Real Estate in the 4th quarter worth $891,000. Summit Securities Group LLC lifted its holdings in shares of Ares Commercial Real Estate by 139.7% in the 4th quarter. Summit Securities Group LLC now owns 6,700 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 3,905 shares during the period. Brown Brothers Harriman & Co. purchased a new stake in shares of Ares Commercial Real Estate in the 4th quarter worth $69,000. Finally, JPMorgan Chase & Co. raised its position in shares of Ares Commercial Real Estate by 31.5% in the 4th quarter. JPMorgan Chase & Co. now owns 545,967 shares of the real estate investment trust’s stock worth $3,216,000 after acquiring an additional 130,635 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.