UBS Group Cuts Ares Commercial Real Estate (NYSE:ACRE) Price Target to $5.25

Ares Commercial Real Estate (NYSE:ACRE) had its target price decreased by UBS Group from $6.00 to $5.25 in a research report sent to investors on Tuesday morning,Benzinga reports. UBS Group currently has a neutral rating on the real estate investment trust’s stock.

Several other research firms have also weighed in on ACRE. Keefe, Bruyette & Woods cut their target price on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a “market perform” rating on the stock in a report on Thursday, February 13th. JMP Securities reaffirmed a “market perform” rating on shares of Ares Commercial Real Estate in a research note on Thursday, February 13th. JPMorgan Chase & Co. decreased their target price on Ares Commercial Real Estate from $6.00 to $5.50 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Finally, StockNews.com raised Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research report on Tuesday, December 17th. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, Ares Commercial Real Estate currently has an average rating of “Hold” and an average target price of $6.05.

Ares Commercial Real Estate Stock Performance

Shares of NYSE:ACRE opened at $4.79 on Tuesday. The firm’s 50 day simple moving average is $5.68 and its 200 day simple moving average is $6.50. Ares Commercial Real Estate has a fifty-two week low of $4.76 and a fifty-two week high of $7.99. The company has a market capitalization of $262.49 million, a price-to-earnings ratio of -7.36 and a beta of 1.50. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.87 and a quick ratio of 0.87.

Ares Commercial Real Estate Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 12.54%. The ex-dividend date of this dividend is Monday, March 31st. Ares Commercial Real Estate’s dividend payout ratio is -92.31%.

Insider Activity

In other news, VP Anton Feingold sold 7,615 shares of Ares Commercial Real Estate stock in a transaction that occurred 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 sale, the vice president now directly owns 78,360 shares in the company, valued at $445,084.80. This trade represents a 8.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its position in Ares Commercial Real Estate by 187.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 415,332 shares of the real estate investment trust’s stock worth $2,907,000 after buying an additional 270,791 shares in the last quarter. Millennium Management LLC raised its holdings in Ares Commercial Real Estate by 505.7% during the fourth quarter. Millennium Management LLC now owns 316,969 shares of the real estate investment trust’s stock worth $1,867,000 after acquiring an additional 264,641 shares in the last quarter. Jane Street Group LLC raised its holdings in Ares Commercial Real Estate by 267.2% during the fourth quarter. Jane Street Group LLC now owns 263,571 shares of the real estate investment trust’s stock worth $1,552,000 after acquiring an additional 191,799 shares in the last quarter. ExodusPoint Capital Management LP acquired a new position in Ares Commercial Real Estate during the fourth quarter valued at approximately $891,000. Finally, Northern Trust Corp grew its stake in Ares Commercial Real Estate by 32.3% in the fourth quarter. Northern Trust Corp now owns 605,491 shares of the real estate investment trust’s stock valued at $3,566,000 after purchasing an additional 147,990 shares in the last quarter. Institutional investors 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.