Ares Commercial Real Estate (NYSE:ACRE) Stock Price Target Lowered at Wells Fargo & Company

Ares Commercial Real Estate (NYSE:ACRE) had its price target decreased by analysts at Wells Fargo & Company from $5.00 to $3.50 in a report released on Monday, Benzinga reports. The firm currently has an “underweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price would suggest a potential downside of 4.24% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Weiss Ratings downgraded shares of Ares Commercial Real Estate from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, October 14th. JPMorgan Chase & Co. decreased their target price on Ares Commercial Real Estate from $5.50 to $5.00 and set a “neutral” rating on the stock in a report on Friday, July 17th. Wall Street Zen upgraded Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Keefe, Bruyette & Woods lowered their target price on Ares Commercial Real Estate from $5.50 to $4.50 and set an “outperform” rating on the stock in a research report on Friday, October 9th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Ares Commercial Real Estate currently has an average rating of “Reduce” and a consensus price target of $4.62.

Ares Commercial Real Estate Stock Up 0.1%

Shares of NYSE:ACRE opened at $3.65 on Monday. The stock has a market capitalization of $202.78 million, a PE ratio of 182.84 and a beta of 1.22. The firm’s 50 day moving average price is $3.89 and its 200-day moving average price is $4.63. Ares Commercial Real Estate has a twelve month low of $3.16 and a twelve month high of $5.89.

Ares Commercial Real Estate (NYSE:ACRE) last announced its earnings results on Friday, November 6th. The real estate investment trust reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.08. Ares Commercial Real Estate had a net margin of 1.76% and a return on equity of 4.36%. The business had revenue of $13.51 million during the quarter, compared to analysts’ expectations of $12.87 million. Analysts expect that Ares Commercial Real Estate will post 0.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ares Commercial Real Estate

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Ares Commercial Real Estate in the second quarter worth approximately $21,024,000. North Ground Capital bought a new stake in shares of Ares Commercial Real Estate during the 2nd quarter valued at $5,544,000. Cura Wealth Advisors LLC bought a new stake in shares of Ares Commercial Real Estate during the 2nd quarter valued at $4,060,000. Almitas Capital LLC bought a new stake in shares of Ares Commercial Real Estate during the 2nd quarter valued at $814,000. Finally, Bank of New York Mellon Corp bought a new position in Ares Commercial Real Estate in the 2nd quarter worth $719,000. Hedge funds and other institutional investors own 41.34% of the company’s stock.

About Ares Commercial Real Estate

Ares Commercial Real Estate Corporation is a specialty finance company organized as a real estate investment trust (REIT). The company originates and invests in commercial real estate loans, with a primary focus on senior mortgage loans secured by properties in the United States.

Its investment portfolio may include loans backed by multifamily, office, industrial, retail, hotel and other commercial properties. Ares Commercial Real Estate generally targets transitional and other commercial real estate assets that require financing for acquisition, redevelopment, renovation or repositioning.