Ares Commercial Real Estate (NYSE:ACRE) Price Target Raised to $4.80

Ares Commercial Real Estate (NYSE:ACRE - Get Free Report) had its price target upped by analysts at Keefe, Bruyette & Woods from $4.50 to $4.80 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "market perform" rating on the real estate investment trust's stock. Keefe, Bruyette & Woods' price objective points to a potential upside of 1.37% from the stock's previous close.

A number of other research analysts have also recently issued reports on ACRE. JMP Securities reiterated a "market perform" rating on shares of Ares Commercial Real Estate in a research report on Monday, April 21st. UBS Group boosted their price target on Ares Commercial Real Estate from $3.75 to $5.00 and gave the company a "neutral" rating in a research note on Wednesday, May 21st. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $5.58.

Ares Commercial Real Estate Price Performance

Ares Commercial Real Estate stock traded down $0.11 during mid-day trading on Thursday, hitting $4.74. 339,438 shares of the company's stock traded hands, compared to its average volume of 552,553. The firm has a 50 day simple moving average of $4.78 and a two-hundred day simple moving average of $4.88. Ares Commercial Real Estate has a fifty-two week low of $3.35 and a fifty-two week high of $7.99. The stock has a market cap of $260.47 million, a price-to-earnings ratio of -18.94, a P/E/G ratio of 3.81 and a beta of 1.31.

Institutional Investors Weigh In On Ares Commercial Real Estate

Large investors have recently made changes to their positions in the business. Hotchkis & Wiley Capital Management LLC raised its stake in Ares Commercial Real Estate by 6.1% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 1,094,490 shares of the real estate investment trust's stock valued at $5,067,000 after buying an additional 62,900 shares during the last quarter. Cura Wealth Advisors LLC grew its position in shares of Ares Commercial Real Estate by 32.1% during the first quarter. Cura Wealth Advisors LLC now owns 963,485 shares of the real estate investment trust's stock worth $4,461,000 after purchasing an additional 234,258 shares in the last quarter. Northern Trust Corp grew its position in shares of Ares Commercial Real Estate by 32.3% during the fourth quarter. Northern Trust Corp now owns 605,491 shares of the real estate investment trust's stock worth $3,566,000 after purchasing an additional 147,990 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Ares Commercial Real Estate by 31.5% during the fourth quarter. JPMorgan Chase & Co. now owns 545,967 shares of the real estate investment trust's stock worth $3,216,000 after purchasing an additional 130,635 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S grew its position in shares of Ares Commercial Real Estate by 15.3% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 419,940 shares of the real estate investment trust's stock worth $1,944,000 after purchasing an additional 55,667 shares in the last quarter. 41.34% of the stock is currently owned by institutional investors.

About Ares Commercial Real Estate

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.