Ares Commercial Real Estate (NYSE:ACRE) Price Target Cut to $6.00 by Analysts at JPMorgan Chase & Co.

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

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

Ares Commercial Real Estate Price Performance

Shares of ACRE stock opened at $5.68 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. Ares Commercial Real Estate has a 12-month low of $5.33 and a 12-month high of $10.53. The firm has a fifty day moving average of $6.47 and a 200-day moving average of $6.83. The firm has a market capitalization of $309.51 million, a price-to-earnings ratio of -4.81 and a beta of 1.51.

Ares Commercial Real Estate Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 17.62%. Ares Commercial Real Estate’s payout ratio is presently -84.75%.

Institutional Investors Weigh In On Ares Commercial Real Estate

Several institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its holdings in shares of 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 valued at $82,000 after purchasing an additional 1,711 shares during the last quarter. Rhumbline Advisers increased its stake 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. Strategic Wealth Partners Ltd. lifted its position in Ares Commercial Real Estate by 11.1% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 20,000 shares of the real estate investment trust’s stock worth $140,000 after buying an additional 2,000 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Ares Commercial Real Estate by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,492 shares of the real estate investment trust’s stock worth $276,000 after buying an additional 2,769 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Ares Commercial Real Estate by 4.3% in the 3rd quarter. Victory Capital Management Inc. now owns 88,093 shares of the real estate investment trust’s stock valued at $617,000 after acquiring an additional 3,593 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.