JPMorgan Chase & Co. Cuts Ares Commercial Real Estate (NYSE:ACRE) Price Target to $5.50

Ares Commercial Real Estate (NYSE:ACRE) had its target price decreased by JPMorgan Chase & Co. from $6.00 to $5.50 in a research note published on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the real estate investment trust’s stock.

Several other research firms also recently weighed in on ACRE. Keefe, Bruyette & Woods lifted their target price on Ares Commercial Real Estate from $5.50 to $6.00 and gave the company an “outperform” rating in a research report on Wednesday, February 11th. Wells Fargo & Company lifted their target price on Ares Commercial Real Estate from $4.00 to $5.00 and gave the company an “underweight” rating in a research report on Thursday, February 12th. Zacks Research cut Ares Commercial Real Estate from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Ares Commercial Real Estate in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Ares Commercial Real Estate has an average rating of “Reduce” and a consensus price target of $5.38.

Ares Commercial Real Estate Price Performance

NYSE ACRE opened at $5.30 on Thursday. The company has a market cap of $293.24 million, a P/E ratio of -264.80 and a beta of 1.20. The stock has a 50-day moving average of $5.03 and a two-hundred day moving average of $4.95. Ares Commercial Real Estate has a 1-year low of $3.44 and a 1-year high of $5.89.

Ares Commercial Real Estate Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 11.3%. The ex-dividend date was Tuesday, March 31st. Ares Commercial Real Estate’s dividend payout ratio (DPR) is presently -3,000.00%.

Institutional Investors Weigh In On Ares Commercial Real Estate

Several institutional investors have recently added to or reduced their stakes in ACRE. Russell Investments Group Ltd. lifted its stake in Ares Commercial Real Estate by 456.0% during the third quarter. Russell Investments Group Ltd. now owns 6,033 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 4,948 shares during the last quarter. Triumph Capital Management purchased a new stake in Ares Commercial Real Estate during the third quarter worth approximately $38,000. BNP Paribas Financial Markets lifted its stake in Ares Commercial Real Estate by 100.3% during the third quarter. BNP Paribas Financial Markets now owns 10,367 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 5,192 shares during the last quarter. Strs Ohio purchased a new stake in Ares Commercial Real Estate during the first quarter worth approximately $47,000. Finally, 180 Wealth Advisors LLC purchased a new stake in Ares Commercial Real Estate during the fourth quarter worth approximately $49,000. Hedge funds and other institutional investors own 41.34% of the company’s stock.

About Ares Commercial Real Estate

Ares Commercial Real Estate Corporation (NYSE: ACRE) is a publicly traded real estate investment trust (REIT) primarily focused on commercial real estate debt investments. Externally managed by an affiliate of Ares Management Corporation, ACRE seeks to generate attractive risk-adjusted returns through its diversified portfolio of CRE financing strategies. The company specializes in originating, acquiring, financing and managing first mortgages, mezzanine loans, preferred equity and other structured finance products.

Since its inception, Ares Commercial Real Estate has targeted a broad range of property types, including multifamily, office, industrial, retail and hospitality assets.