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 lowered by Keefe, Bruyette & Woods from $6.00 to $5.50 in a research note published on Thursday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the real estate investment trust’s stock.

Other equities analysts also recently issued research reports about the stock. JMP Securities reiterated a “market perform” rating on shares of Ares Commercial Real Estate in a report on Thursday. JPMorgan Chase & Co. reduced 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 report on Tuesday, January 21st. Finally, StockNews.com upgraded shares of 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 given a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $6.60.

Ares Commercial Real Estate Trading Down 5.1 %

NYSE:ACRE opened at $5.08 on Thursday. The company has a market capitalization of $276.80 million, a P/E ratio of -4.30 and a beta of 1.50. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.38. Ares Commercial Real Estate has a 12 month low of $5.01 and a 12 month high of $8.59. The firm has a fifty day simple moving average of $6.06 and a 200-day simple moving average of $6.65.

Ares Commercial Real Estate Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.15 per share. 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 payout ratio is -92.31%.

Insider Transactions at Ares Commercial Real Estate

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 stock was 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 of the company’s stock, valued at $445,084.80. The trade was a 8.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its stake in Ares Commercial Real Estate by 17.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,733 shares of the real estate investment trust’s stock worth $82,000 after purchasing an additional 1,711 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Ares Commercial Real Estate by 3.9% during the fourth quarter. Wells Fargo & Company MN now owns 50,424 shares of the real estate investment trust’s stock worth $297,000 after buying an additional 1,905 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Ares Commercial Real Estate by 7.2% during the second 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. Intech Investment Management LLC grew its holdings in Ares Commercial Real Estate by 21.5% in the 4th quarter. Intech Investment Management LLC now owns 16,635 shares of the real estate investment trust’s stock valued at $98,000 after buying an additional 2,943 shares in the last quarter. Finally, CFO4Life Group LLC increased its stake in shares of Ares Commercial Real Estate by 21.4% in the 4th quarter. CFO4Life Group LLC now owns 17,000 shares of the real estate investment trust’s stock worth $100,000 after acquiring an additional 3,000 shares during the last quarter. Hedge funds and other 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.