UPDATE: J.P. Morgan Initiates Coverage on Ares Commercial Real Estate

According to a research report published this morning, J.P. Morgan has initiated Ares Commercial Real Estate ACRE with an Overweight rating and $18.50 PT. In the report, J.P. Morgan explained, "We believe ACRE is uniquely positioned with a proven management team, scalable platform and the dry powder to take advantage of the supply/demand imbalance in the commercial real estate market. Moreover, it is trading at a discount to book value, which we believe represents a temporary arbitrage for investors." Ares Commercial Real Estate closed Friday at $16.73.
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Posted In: Analyst ColorInitiationAnalyst RatingsJ.P. Morgan
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