Keefe, Bruyette & Woods Has Lowered Expectations for Ares Commercial Real Estate (NYSE:ACRE) Stock Price

by · The Cerbat Gem

Ares Commercial Real Estate (NYSE:ACRE – Get Free Report) had its price objective dropped by analysts at Keefe, Bruyette & Woods from $6.00 to $5.50 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 14.70% from the stock’s previous close.

Several other brokerages have also recently issued reports on ACRE. Zacks Research cut Ares Commercial Real Estate from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Weiss Ratings reissued a “sell (d)” rating on shares of Ares Commercial Real Estate in a research report on Monday. JPMorgan Chase & Co. decreased their price objective on Ares Commercial Real Estate from $6.00 to $5.50 and set a “neutral” rating for the company in a research note on Thursday, April 16th. Finally, Wells Fargo & Company raised their price objective 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. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $5.25.

View Our Latest Stock Report on Ares Commercial Real Estate

Ares Commercial Real Estate Stock Down 1.3%

ACRE stock traded down $0.07 during trading on Wednesday, hitting $4.80. 75,924 shares of the company’s stock traded hands, compared to its average volume of 483,000. The firm has a market capitalization of $266.03 million, a P/E ratio of -13.35 and a beta of 1.18. Ares Commercial Real Estate has a 1 year low of $4.05 and a 1 year high of $5.89. The business has a fifty day simple moving average of $5.03 and a two-hundred day simple moving average of $5.02.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACRE. Castleview Partners LLC acquired a new position in Ares Commercial Real Estate during the 1st quarter valued at about $119,000. Abel Hall LLC raised its stake in Ares Commercial Real Estate by 61.1% in the first quarter. Abel Hall LLC now owns 51,216 shares of the real estate investment trust’s stock valued at $246,000 after buying an additional 19,420 shares during the last quarter. Corient Private Wealth LLC acquired a new stake in Ares Commercial Real Estate in the fourth quarter worth about $64,000. Alpine Global Management LLC grew its stake in shares of Ares Commercial Real Estate by 27.8% during the fourth quarter. Alpine Global Management LLC now owns 759,110 shares of the real estate investment trust’s stock worth $3,629,000 after acquiring an additional 165,193 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Ares Commercial Real Estate during the fourth quarter worth about $157,000. 41.34% of the stock is currently owned by hedge funds and other institutional investors.

Ares Commercial Real Estate Company Profile

(Get Free Report)

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.

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