JPMorgan Chase & Co. Cuts Ares Commercial Real Estate (NYSE:ACRE) Price Target to $6.00

Ares Commercial Real Estate (NYSE:ACRE) had its price objective trimmed by JPMorgan Chase & Co. from $7.00 to $6.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

ACRE has been the topic of a number of other reports. JMP Securities restated a “market perform” rating on shares of Ares Commercial Real Estate in a research report on Monday, December 9th. Keefe, Bruyette & Woods decreased their target price on Ares Commercial Real Estate from $7.00 to $6.00 and set a “market perform” rating on the stock in a report on Tuesday, January 14th. Finally, StockNews.com raised Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a report on Tuesday, December 17th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $6.80.

Ares Commercial Real Estate Price Performance

NYSE:ACRE opened at $5.91 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.38. The firm has a market cap of $322.39 million, a PE ratio of -5.01 and a beta of 1.51. Ares Commercial Real Estate has a 12 month low of $5.33 and a 12 month high of $10.53. The company’s 50-day moving average price is $6.53 and its two-hundred day moving average price is $6.85.

Ares Commercial Real Estate Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 16.92%. Ares Commercial Real Estate’s payout ratio is presently -84.75%.

Institutional Investors Weigh In On Ares Commercial Real Estate

Institutional investors have recently modified their holdings of the business. FMR LLC boosted its stake in Ares Commercial Real Estate by 211.0% in the third quarter. FMR LLC now owns 7,741 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 5,252 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Ares Commercial Real Estate by 17.1% in 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 last quarter. XTX Topco Ltd bought a new position in shares of Ares Commercial Real Estate in the 2nd quarter worth $82,000. Intech Investment Management LLC bought a new stake in Ares Commercial Real Estate in the third quarter valued at about $96,000. Finally, AQR Capital Management LLC bought a new stake in Ares Commercial Real Estate in the second quarter valued at about $122,000. Institutional investors and hedge funds 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.