Ares Commercial Real Estate (NYSE:ACRE) Price Target Cut to $7.00

Ares Commercial Real Estate (NYSE:ACRE) had its price objective lowered by analysts at Keefe, Bruyette & Woods from $7.50 to $7.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “market perform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 3.32% from the stock’s previous close.

ACRE has been the subject of a number of other research reports. TheStreet lowered Ares Commercial Real Estate from a “c-” rating to a “d+” rating in a research note on Tuesday, March 5th. Bank of America reaffirmed an “underperform” rating and issued a $7.00 price target (down from $11.00) on shares of Ares Commercial Real Estate in a report on Monday, March 4th. JPMorgan Chase & Co. decreased their price objective on shares of Ares Commercial Real Estate from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, April 10th. Finally, UBS Group cut their target price on shares of Ares Commercial Real Estate from $10.50 to $8.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 20th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.42.

Ares Commercial Real Estate Stock Performance

Shares of ACRE stock opened at $6.78 on Friday. The company’s fifty day moving average price is $7.19 and its two-hundred day moving average price is $8.82. The company has a debt-to-equity ratio of 2.42, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a market capitalization of $368.72 million, a P/E ratio of -9.41 and a beta of 1.42. Ares Commercial Real Estate has a 12 month low of $6.36 and a 12 month high of $11.24.

Insider Transactions at Ares Commercial Real Estate

In other news, CEO Bryan Patrick Donohoe bought 3,509 shares of the stock in a transaction that occurred on Sunday, March 10th. The shares were purchased at an average cost of $14.32 per share, with a total value of $50,248.88. Following the completion of the acquisition, the chief executive officer now directly owns 41,259 shares in the company, valued at $590,828.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ACRE. SG Americas Securities LLC acquired a new position in shares of Ares Commercial Real Estate in the 3rd quarter worth $230,000. Raymond James & Associates increased its position in shares of Ares Commercial Real Estate by 9.7% in the third quarter. Raymond James & Associates now owns 40,455 shares of the real estate investment trust’s stock worth $385,000 after acquiring an additional 3,580 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Ares Commercial Real Estate by 47.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,996 shares of the real estate investment trust’s stock worth $181,000 after purchasing an additional 6,116 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Ares Commercial Real Estate by 32.4% in the third quarter. Nisa Investment Advisors LLC now owns 51,936 shares of the real estate investment trust’s stock worth $494,000 after buying an additional 12,706 shares during the period. Finally, MGO One Seven LLC purchased a new position in Ares Commercial Real Estate during the third quarter valued at approximately $200,000. Institutional investors 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.