ACRES Commercial Realty (NYSE:ACR) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of ACRES Commercial Realty (NYSE:ACR) from a strong sell rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on the stock. Wall Street Zen cut shares of ACRES Commercial Realty from a “hold” rating to a “sell” rating in a research report on Sunday, July 5th. Weiss Ratings cut shares of ACRES Commercial Realty from a “hold (c)” rating to a “sell (d+)” rating in a research report on Tuesday, August 4th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, ACRES Commercial Realty presently has an average rating of “Hold” and a consensus price target of $24.50.

ACRES Commercial Realty Stock Up 2.8%

Shares of NYSE:ACR opened at $14.93 on Monday. The business has a 50-day moving average price of $16.88 and a 200 day moving average price of $18.58. The company has a current ratio of 108.63, a quick ratio of 108.63 and a debt-to-equity ratio of 3.24. The company has a market capitalization of $106.42 million, a price-to-earnings ratio of -13.33 and a beta of 1.08. ACRES Commercial Realty has a 12-month low of $13.83 and a 12-month high of $24.61.

ACRES Commercial Realty (NYSE:ACR) last issued its quarterly earnings data on Wednesday, July 29th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.92). ACRES Commercial Realty had a net margin of 22.62% and a return on equity of 2.42%. The company had revenue of $20.98 million during the quarter, compared to analysts’ expectations of $20.32 million. Sell-side analysts expect that ACRES Commercial Realty will post 0.15 EPS for the current year.

Insider Activity at ACRES Commercial Realty

In other news, major shareholder Eagle Point Credit Management sold 5,981 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $24.37, for a total value of $145,756.97. Following the completion of the transaction, the insider owned 339,325 shares of the company’s stock, valued at approximately $8,269,350.25. This trade represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 21,773 shares of company stock valued at $517,787 over the last ninety days. Company insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On ACRES Commercial Realty

A number of hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets boosted its position in ACRES Commercial Realty by 120.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company’s stock valued at $29,000 after buying an additional 739 shares during the period. JPMorgan Chase & Co. purchased a new stake in shares of ACRES Commercial Realty during the second quarter worth $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of ACRES Commercial Realty during the second quarter worth $60,000. Bank of America Corp DE raised its stake in shares of ACRES Commercial Realty by 110.4% in the second quarter. Bank of America Corp DE now owns 3,671 shares of the company’s stock valued at $66,000 after acquiring an additional 1,926 shares in the last quarter. Finally, MetLife Investment Management LLC acquired a new stake in shares of ACRES Commercial Realty in the fourth quarter valued at $76,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

ACRES Commercial Realty Company Profile

ACRES Commercial Realty Corp., a real estate investment trust (REIT), focuses on the origination, holding, and management of commercial real estate mortgage loans and equity investments in commercial real estate property in the United States. It invests in commercial real estate-related assets, including floating-rate first mortgage loans, first priority interests in first mortgage loans, subordinated interests in first mortgage loans, mezzanine financing, preferred equity investments, and commercial mortgage-backed securities.