Ares Commercial Real Estate (NYSE:ACRE) Downgraded by Zacks Research to “Strong Sell”

Ares Commercial Real Estate (NYSE:ACRE) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday,Zacks.com reports.

ACRE has been the subject of a number of other research reports. JPMorgan Chase & Co. cut their target price on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a “neutral” rating for the company in a research report on Thursday, April 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of Ares Commercial Real Estate in a research report on Monday, May 11th. Wells Fargo & Company increased their target price on shares of Ares Commercial Real Estate from $4.00 to $5.00 and gave the stock an “underweight” rating in a research report on Thursday, February 12th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Ares Commercial Real Estate currently has an average rating of “Reduce” and a consensus price target of $5.25.

Ares Commercial Real Estate Stock Performance

NYSE ACRE opened at $4.93 on Tuesday. Ares Commercial Real Estate has a 52-week low of $4.05 and a 52-week high of $5.89. The company has a 50-day simple moving average of $4.96 and a 200 day simple moving average of $5.04. The company has a market capitalization of $273.24 million, a PE ratio of -13.68 and a beta of 1.18.

Institutional Investors Weigh In On Ares Commercial Real Estate

Hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. raised its stake in shares of Ares Commercial Real Estate by 456.0% during the third quarter. Russell Investments Group Ltd. now owns 6,033 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 4,948 shares in the last quarter. Triumph Capital Management purchased a new position in shares of Ares Commercial Real Estate during the third quarter worth approximately $38,000. BNP Paribas Financial Markets raised its stake in shares of Ares Commercial Real Estate by 100.3% during the third quarter. BNP Paribas Financial Markets now owns 10,367 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 5,192 shares in the last quarter. Strs Ohio purchased a new position in shares of Ares Commercial Real Estate in the first quarter worth $47,000. Finally, 180 Wealth Advisors LLC purchased a new position in shares of Ares Commercial Real Estate in the fourth quarter worth $49,000. 41.34% of the stock is currently owned by institutional investors.

About Ares Commercial Real Estate

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.