JMP Securities Cuts Ares Commercial Real Estate (NYSE:ACRE) Price Target to $15.00


Ares Commercial Real Estate (NYSE:ACRE – Get Rating) had its price target reduced by equities research analysts at JMP Securities from $16.50 to $15.00 in a research note issued on Monday, Marketbeat.com reports. The firm currently has a “market outperform” rating on the real estate investment trust’s stock. JMP Securities’ price objective would indicate a potential upside of 13.64% from the stock’s previous close.

A number of other research analysts also recently weighed in on ACRE. Credit Suisse Group cut their price objective on Ares Commercial Real Estate to $14.50 in a research note on Friday, July 22nd. JPMorgan Chase & Co. lifted their price objective on Ares Commercial Real Estate from $14.50 to $16.00 and gave the stock a “neutral” rating in a report on Monday, April 25th.

Ares Commercial Real Estate Trading Down 4.3 %

Shares of NYSE ACRE opened at $13.20 on Monday. The firm has a market capitalization of $626.21 million, a PE ratio of 11.89 and a beta of 1.24. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 2.57. Ares Commercial Real Estate has a one year low of $11.18 and a one year high of $16.48. The business has a 50-day moving average price of $13.08 and a two-hundred day moving average price of $14.31.

Ares Commercial Real Estate (NYSE:ACRE – Get Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02). Ares Commercial Real Estate had a net margin of 50.09% and a return on equity of 10.30%. During the same period last year, the business earned $0.38 EPS. As a group, analysts predict that Ares Commercial Real Estate will post 1.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ares Commercial Real Estate

A number of institutional investors have recently added to or reduced their stakes in ACRE. Delphi Financial Group Inc. lifted its stake in shares of Ares Commercial Real Estate by 1.7% during the 4th quarter. Delphi Financial Group Inc. now owns 1,622,331 shares of the real estate investment trust’s stock worth $23,589,000 after buying an additional 26,966 shares during the last quarter. 1832 Asset Management LP lifted its position in Ares Commercial Real Estate by 0.4% during the fourth quarter. 1832 Asset Management LP now owns 1,584,857 shares of the real estate investment trust’s stock worth $23,189,000 after acquiring an additional 6,711 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Ares Commercial Real Estate by 31.7% in the first quarter. JPMorgan Chase & Co. now owns 1,284,084 shares of the real estate investment trust’s stock valued at $19,929,000 after buying an additional 308,771 shares in the last quarter. State Street Corp raised its position in shares of Ares Commercial Real Estate by 22.2% in the first quarter. State Street Corp now owns 1,121,158 shares of the real estate investment trust’s stock valued at $17,772,000 after buying an additional 204,054 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Ares Commercial Real Estate during the first quarter valued at approximately $13,895,000. 46.66% of the stock is currently owned by institutional investors and hedge funds.

Ares Commercial Real Estate Company Profile

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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. The company provides a range of financing solutions for the owners, operators, and sponsors of CRE properties. It originates senior mortgage loans, subordinate debt products, mezzanine loans, real estate preferred equity investments, and other CRE investments, including commercial mortgage backed securities.

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