Ares Commercial Real Estate (NYSE:ACRE) Given New $5.50 Price Target at Keefe, Bruyette & Woods

Ares Commercial Real Estate (NYSE:ACRE) had its target price reduced by Keefe, Bruyette & Woods from $6.00 to $5.50 in a report issued on Thursday morning,Benzinga reports. They currently have a market perform rating on the real estate investment trust’s stock.

A number of other analysts also recently issued reports on ACRE. StockNews.com raised Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research report on Tuesday, December 17th. JPMorgan Chase & Co. lowered their target price on shares of Ares Commercial Real Estate from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. Finally, JMP Securities reissued a “market perform” rating on shares of Ares Commercial Real Estate in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, Ares Commercial Real Estate presently has a consensus rating of “Hold” and a consensus target price of $6.60.

Ares Commercial Real Estate Trading Down 5.1 %

Shares of Ares Commercial Real Estate stock opened at $5.08 on Thursday. Ares Commercial Real Estate has a fifty-two week low of $5.01 and a fifty-two week high of $8.59. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market capitalization of $276.80 million, a price-to-earnings ratio of -4.30 and a beta of 1.50. The stock has a 50 day moving average of $6.06 and a 200 day moving average of $6.65.

Ares Commercial Real Estate Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 11.82%. The ex-dividend date is Monday, March 31st. Ares Commercial Real Estate’s dividend payout ratio is currently -92.31%.

Insiders Place Their Bets

In other Ares Commercial Real Estate news, VP Anton Feingold sold 7,615 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $5.68, for a total value of $43,253.20. Following the completion of the transaction, the vice president now owns 78,360 shares in the company, valued at $445,084.80. The trade was a 8.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.80% of the company’s stock.

Institutional Trading of Ares Commercial Real Estate

Several hedge funds have recently modified their holdings of ACRE. Summit Securities Group LLC increased its holdings in Ares Commercial Real Estate by 139.7% during the 4th quarter. Summit Securities Group LLC now owns 6,700 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 3,905 shares during the period. FMR LLC grew its position in shares of Ares Commercial Real Estate by 211.0% during the third quarter. FMR LLC now owns 7,741 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 5,252 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of Ares Commercial Real Estate during the fourth quarter worth approximately $69,000. New York State Common Retirement Fund increased its stake in shares of Ares Commercial Real Estate by 160.9% during the fourth quarter. New York State Common Retirement Fund now owns 11,838 shares of the real estate investment trust’s stock worth $70,000 after buying an additional 7,300 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in Ares Commercial Real Estate by 17.1% in the third quarter. BNP Paribas Financial Markets now owns 11,733 shares of the real estate investment trust’s stock worth $82,000 after acquiring an additional 1,711 shares during the last quarter. 41.34% of the stock is currently owned by institutional investors and hedge funds.

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.