Ares Commercial Real Estate (NYSE:ACRE) Price Target Cut to $5.25 by Analysts at UBS Group

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

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

Ares Commercial Real Estate Stock Performance

Ares Commercial Real Estate stock opened at $4.90 on Tuesday. Ares Commercial Real Estate has a fifty-two week low of $4.82 and a fifty-two week high of $7.99. The stock’s 50 day simple moving average is $5.73 and its two-hundred day simple moving average is $6.52. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market cap of $268.54 million, a price-to-earnings ratio of -7.53 and a beta of 1.50.

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 issued a $0.15 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.60 annualized dividend and a yield of 12.26%. Ares Commercial Real Estate’s dividend payout ratio (DPR) is presently -153.84%.

Insider Transactions at Ares Commercial Real Estate

In related news, VP Anton Feingold sold 7,615 shares of the business’s 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 completion of the transaction, the vice president now directly owns 78,360 shares in the company, valued at $445,084.80. The trade was a 8.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.80% of the company’s stock.

Institutional Trading of Ares Commercial Real Estate

Institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its stake in shares of Ares Commercial Real Estate by 187.3% in the third quarter. JPMorgan Chase & Co. now owns 415,332 shares of the real estate investment trust’s stock worth $2,907,000 after purchasing an additional 270,791 shares during the last quarter. Millennium Management LLC increased its holdings in Ares Commercial Real Estate by 505.7% in the 4th quarter. Millennium Management LLC now owns 316,969 shares of the real estate investment trust’s stock worth $1,867,000 after buying an additional 264,641 shares in the last quarter. Jane Street Group LLC raised its position in Ares Commercial Real Estate by 267.2% in the 4th quarter. Jane Street Group LLC now owns 263,571 shares of the real estate investment trust’s stock worth $1,552,000 after buying an additional 191,799 shares during the last quarter. ExodusPoint Capital Management LP bought a new position in Ares Commercial Real Estate during the 4th quarter valued at about $891,000. Finally, Northern Trust Corp boosted its holdings in shares of Ares Commercial Real Estate by 32.3% during the 4th quarter. Northern Trust Corp now owns 605,491 shares of the real estate investment trust’s stock valued at $3,566,000 after acquiring an additional 147,990 shares during the last quarter. 41.34% of the stock is currently owned by hedge funds and other institutional investors.

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.