Ares Commercial Real Estate (NYSE:ACRE) Downgraded by Wells Fargo & Company

Ares Commercial Real Estate (NYSE:ACRE) was downgraded by research analysts at Wells Fargo & Company from an “equal weight” rating to an “underweight” rating in a research note issued to investors on Friday, MarketBeat reports. They presently have a $7.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $7.50. Wells Fargo & Company‘s target price suggests a potential downside of 5.02% from the company’s previous close.

A number of other analysts have also recently commented on the stock. BTIG Research reissued a “neutral” rating on shares of Ares Commercial Real Estate in a research note on Friday, July 19th. StockNews.com lowered Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th. Three research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.20.

Ares Commercial Real Estate Trading Down 5.6 %

Shares of Ares Commercial Real Estate stock opened at $7.37 on Friday. The firm has a 50-day simple moving average of $7.23 and a two-hundred day simple moving average of $7.11. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.87 and a current ratio of 0.87. Ares Commercial Real Estate has a fifty-two week low of $6.36 and a fifty-two week high of $11.24. The company has a market cap of $401.72 million, a P/E ratio of -8.88 and a beta of 1.45.

Hedge Funds Weigh In On Ares Commercial Real Estate

A number of institutional investors and hedge funds have recently modified their holdings of the company. Ameritas Advisory Services LLC acquired a new position in shares of Ares Commercial Real Estate during the 2nd quarter worth about $68,000. XTX Topco Ltd purchased a new stake in Ares Commercial Real Estate during the second quarter worth approximately $82,000. EntryPoint Capital LLC acquired a new position in Ares Commercial Real Estate in the first quarter valued at approximately $84,000. Quest Partners LLC increased its stake in Ares Commercial Real Estate by 1,329,500.0% in the second quarter. Quest Partners LLC now owns 13,296 shares of the real estate investment trust’s stock valued at $88,000 after purchasing an additional 13,295 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in Ares Commercial Real Estate in the first quarter valued at approximately $108,000. 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.