Ares Commercial Real Estate (NYSE:ACRE) Stock Rating Lowered by Wells Fargo & Company

Ares Commercial Real Estate (NYSE:ACRE) was downgraded by analysts at Wells Fargo & Company from an “equal weight” rating to an “underweight” rating in a report issued on Friday, MarketBeat Ratings reports. They presently have a $7.00 target price on the real estate investment trust’s stock, down from their prior target price of $7.50. Wells Fargo & Company‘s price objective suggests a potential downside of 5.02% from the company’s current price.

A number of other analysts have also recently commented on ACRE. BTIG Research restated a “neutral” rating on shares of Ares Commercial Real Estate in a report on Friday, July 19th. StockNews.com lowered shares of Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, Ares Commercial Real Estate presently has a consensus rating of “Hold” and an average target price of $7.20.

Ares Commercial Real Estate Stock Down 5.6 %

Shares of NYSE:ACRE opened at $7.37 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.32. The stock’s 50-day moving average price is $7.23 and its 200-day moving average price is $7.11. The stock has a market capitalization of $401.72 million, a P/E ratio of -8.88 and a beta of 1.45. Ares Commercial Real Estate has a 12-month low of $6.36 and a 12-month high of $11.24.

Institutional Investors Weigh In On Ares Commercial Real Estate

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ameritas Advisory Services LLC purchased a new stake in Ares Commercial Real Estate during the 2nd quarter valued at about $68,000. XTX Topco Ltd purchased a new stake in Ares Commercial Real Estate in the second quarter valued at approximately $82,000. EntryPoint Capital LLC purchased a new stake in Ares Commercial Real Estate in the first quarter valued at approximately $84,000. Quest Partners LLC increased its stake in shares of Ares Commercial Real Estate by 1,329,500.0% in the second quarter. Quest Partners LLC now owns 13,296 shares of the real estate investment trust’s stock worth $88,000 after acquiring an additional 13,295 shares during the period. Finally, Virtu Financial LLC purchased a new position in shares of Ares Commercial Real Estate during the first quarter worth $108,000. Hedge funds and other institutional investors own 41.34% of the company’s stock.

About Ares Commercial Real Estate

Ares Commercial Real Estate Corporation, 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.