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 dropped by research analysts at JPMorgan Chase & Co. from $7.00 to $6.50 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price target indicates a potential downside of 2.69% from the stock’s current price.

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

Ares Commercial Real Estate Trading Down 1.6 %

Shares of ACRE traded down $0.11 during trading hours on Thursday, reaching $6.68. The stock had a trading volume of 77,642 shares, compared to its average volume of 586,506. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.32. Ares Commercial Real Estate has a 52 week low of $6.36 and a 52 week high of $11.24. The firm has a 50-day moving average of $7.00 and a 200 day moving average of $7.01. The company has a market cap of $364.11 million, a P/E ratio of -8.06 and a beta of 1.45.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Inspire Investing LLC raised its holdings in Ares Commercial Real Estate by 8.8% in the 3rd quarter. Inspire Investing LLC now owns 58,181 shares of the real estate investment trust’s stock valued at $407,000 after acquiring an additional 4,714 shares during the period. Strategic Wealth Partners Ltd. raised its holdings in Ares Commercial Real Estate by 11.1% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 20,000 shares of the real estate investment trust’s stock valued at $140,000 after acquiring an additional 2,000 shares during the period. SG Americas Securities LLC bought a new position in Ares Commercial Real Estate in the 3rd quarter valued at about $147,000. The Manufacturers Life Insurance Company increased its holdings in shares of Ares Commercial Real Estate by 7.2% during the second quarter. The Manufacturers Life Insurance Company now owns 41,492 shares of the real estate investment trust’s stock worth $276,000 after purchasing an additional 2,769 shares during the period. Finally, AQR Capital Management LLC bought a new position in shares of Ares Commercial Real Estate during the second quarter worth approximately $122,000. 41.34% of the stock is owned by institutional investors.

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.