Keefe, Bruyette & Woods Cuts Ares Commercial Real Estate (NYSE:ACRE) Price Target to $6.00

Ares Commercial Real Estate (NYSE:ACRE) had its price target cut by stock analysts at Keefe, Bruyette & Woods from $7.00 to $6.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “market perform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 7.33% from the stock’s current price.

A number of other equities analysts have also recently commented on 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. JMP Securities restated a “market perform” rating on shares of Ares Commercial Real Estate in a report on Monday, December 9th. Wells Fargo & Company lowered shares of Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $7.50 to $7.00 in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Ares Commercial Real Estate from $7.00 to $6.50 and set a “neutral” rating for the company in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $6.90.

Ares Commercial Real Estate Stock Performance

ACRE stock traded up $0.16 during mid-day trading on Tuesday, hitting $5.59. The company had a trading volume of 206,707 shares, compared to its average volume of 534,468. The firm has a market cap of $304.89 million, a PE ratio of -4.74 and a beta of 1.51. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.87 and a current ratio of 0.87. Ares Commercial Real Estate has a 12 month low of $5.33 and a 12 month high of $10.53. The stock’s fifty day moving average price is $6.66 and its two-hundred day moving average price is $6.88.

Hedge Funds Weigh In On Ares Commercial Real Estate

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC grew its stake in shares of Ares Commercial Real Estate by 211.0% during the 3rd quarter. FMR LLC now owns 7,741 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 5,252 shares during the period. XTX Topco Ltd acquired a new stake in shares of Ares Commercial Real Estate during the 2nd quarter worth approximately $82,000. BNP Paribas Financial Markets grew its stake in shares of Ares Commercial Real Estate by 17.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,733 shares of the real estate investment trust’s stock worth $82,000 after purchasing an additional 1,711 shares during the period. Quest Partners LLC grew its stake in shares of Ares Commercial Real Estate by 1,329,500.0% during the 2nd quarter. Quest Partners LLC now owns 13,296 shares of the real estate investment trust’s stock worth $88,000 after purchasing an additional 13,295 shares during the period. Finally, Intech Investment Management LLC acquired a new stake in shares of Ares Commercial Real Estate during the 3rd quarter worth approximately $96,000. 41.34% of the stock is owned by hedge funds and other 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.