JPMorgan Chase & Co. Has Lowered Expectations for Ares Commercial Real Estate (NYSE:ACRE) Stock Price

Ares Commercial Real Estate (NYSE:ACRE) had its target price reduced by JPMorgan Chase & Co. from $5.50 to $5.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 8.34% from the stock’s previous close.

ACRE has been the topic of a number of other research reports. Wall Street Zen lowered shares of Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. Keefe, Bruyette & Woods lowered their price objective on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Zacks Research raised shares of Ares Commercial Real Estate from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th. Citizens Jmp reiterated a “market perform” rating on shares of Ares Commercial Real Estate in a research report on Thursday, July 9th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Ares Commercial Real Estate in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Ares Commercial Real Estate presently has an average rating of “Reduce” and a consensus price target of $5.25.

Ares Commercial Real Estate Trading Down 1.8%

Shares of NYSE ACRE opened at $4.62 on Friday. Ares Commercial Real Estate has a 12 month low of $4.05 and a 12 month high of $5.89. The firm has a market capitalization of $256.04 million, a price-to-earnings ratio of -12.82 and a beta of 1.15. The business has a 50-day moving average of $4.70 and a 200-day moving average of $4.92.

Ares Commercial Real Estate (NYSE:ACRE) last posted its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.02). Ares Commercial Real Estate had a negative return on equity of 2.80% and a negative net margin of 37.21%.The company had revenue of $13.46 million during the quarter, compared to the consensus estimate of $11.63 million. On average, analysts predict that Ares Commercial Real Estate will post 0.4 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Ares Commercial Real Estate by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 3,110,321 shares of the real estate investment trust’s stock worth $14,028,000 after acquiring an additional 74,453 shares during the last quarter. North Ground Capital grew its holdings in shares of Ares Commercial Real Estate by 34.0% during the 4th quarter. North Ground Capital now owns 1,551,806 shares of the real estate investment trust’s stock valued at $7,418,000 after purchasing an additional 393,943 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Ares Commercial Real Estate by 2.9% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,315,902 shares of the real estate investment trust’s stock valued at $5,935,000 after purchasing an additional 37,062 shares during the last quarter. Alpine Global Management LLC grew its holdings in shares of Ares Commercial Real Estate by 27.8% during the 4th quarter. Alpine Global Management LLC now owns 759,110 shares of the real estate investment trust’s stock valued at $3,629,000 after purchasing an additional 165,193 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in Ares Commercial Real Estate by 947.2% in the 4th quarter. Van ECK Associates Corp now owns 647,546 shares of the real estate investment trust’s stock worth $3,095,000 after purchasing an additional 585,711 shares during the period. 41.34% of the stock is currently owned by institutional investors.

Ares Commercial Real Estate Company Profile

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.