StockNews.com Upgrades Ares Commercial Real Estate (NYSE:ACRE) to “Hold”

Ares Commercial Real Estate (NYSE:ACRE) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

ACRE has been the topic of a number of other reports. Wells Fargo & Company cut Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $7.50 to $7.00 in a report on Friday, September 20th. JMP Securities reissued a “market perform” rating on shares of Ares Commercial Real Estate in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Ares Commercial Real Estate from $7.00 to $6.50 and set a “neutral” rating for the company in a research note on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $7.10.

Ares Commercial Real Estate Stock Down 5.5 %

Shares of NYSE:ACRE opened at $6.21 on Tuesday. Ares Commercial Real Estate has a 1 year low of $6.20 and a 1 year high of $11.24. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.87 and a quick ratio of 0.87. The business’s 50-day moving average is $6.84 and its 200-day moving average is $7.02. The company has a market capitalization of $338.71 million, a price-to-earnings ratio of -5.26 and a beta of 1.48.

Institutional Investors Weigh In On Ares Commercial Real Estate

Several hedge funds and other institutional investors have recently made changes to their positions in ACRE. Bank of New York Mellon Corp lifted its position in Ares Commercial Real Estate by 10.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 206,143 shares of the real estate investment trust’s stock valued at $1,371,000 after acquiring an additional 19,626 shares in the last quarter. Access Investment Management LLC lifted its holdings in shares of Ares Commercial Real Estate by 15.5% in the second quarter. Access Investment Management LLC now owns 85,700 shares of the real estate investment trust’s stock valued at $570,000 after purchasing an additional 11,500 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of Ares Commercial Real Estate during the second quarter valued at approximately $68,000. Van ECK Associates Corp grew its holdings in Ares Commercial Real Estate by 26.9% during the second quarter. Van ECK Associates Corp now owns 524,694 shares of the real estate investment trust’s stock worth $3,489,000 after buying an additional 111,194 shares in the last quarter. Finally, Rhumbline Advisers raised its position in Ares Commercial Real Estate by 2.1% in the 2nd quarter. Rhumbline Advisers now owns 86,466 shares of the real estate investment trust’s stock valued at $575,000 after buying an additional 1,797 shares during the last quarter. 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.