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 research note issued on Tuesday,Zacks.com reports.

Several other analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods cut their price target on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Wells Fargo & Company boosted their target price on shares of Ares Commercial Real Estate from $4.00 to $5.00 and gave the company an “underweight” rating in a report on Thursday, February 12th. Weiss Ratings restated a “sell (d)” rating on shares of Ares Commercial Real Estate in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Ares Commercial Real Estate from $6.00 to $5.50 and set a “neutral” rating on the stock in a report on Thursday, April 16th. One 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 MarketBeat, Ares Commercial Real Estate has a consensus rating of “Reduce” and a consensus target price of $5.25.

Ares Commercial Real Estate Stock Up 1.1%

Shares of NYSE ACRE opened at $4.93 on Tuesday. The company has a market cap of $273.24 million, a price-to-earnings ratio of -13.68 and a beta of 1.18. The firm’s fifty day moving average is $4.96 and its 200 day moving average is $5.04. Ares Commercial Real Estate has a 52 week low of $4.05 and a 52 week high of $5.89.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ACRE. AQR Capital Management LLC bought a new position in shares of Ares Commercial Real Estate in the first quarter worth approximately $129,000. Acadian Asset Management LLC bought a new position in shares of Ares Commercial Real Estate in the first quarter worth approximately $166,000. Strs Ohio bought a new position in shares of Ares Commercial Real Estate in the first quarter worth approximately $47,000. Rhumbline Advisers lifted its stake in shares of Ares Commercial Real Estate by 6.5% in the second quarter. Rhumbline Advisers now owns 83,886 shares of the real estate investment trust’s stock worth $400,000 after buying an additional 5,107 shares in the last quarter. Finally, Prudential Financial Inc. bought a new position in shares of Ares Commercial Real Estate in the second quarter worth approximately $187,000. Institutional investors own 41.34% of the company’s stock.

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.