ACRES Commercial Realty Corp. (NYSE:ACR) Receives $24.50 Average PT from Analysts

Shares of ACRES Commercial Realty Corp. (NYSE:ACR) have been assigned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $24.50.

ACR has been the topic of a number of recent research reports. Zacks Research upgraded ACRES Commercial Realty to a “hold” rating in a research note on Friday, December 19th. Citizens Jmp lifted their price target on ACRES Commercial Realty from $23.50 to $24.50 and gave the company a “market outperform” rating in a report on Friday, October 31st. JMP Securities set a $24.50 price target on ACRES Commercial Realty in a research note on Friday, October 31st. Citigroup reaffirmed an “outperform” rating on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ACRES Commercial Realty in a research note on Monday, December 29th.

Insider Transactions at ACRES Commercial Realty

In other ACRES Commercial Realty news, major shareholder Eagle Point Credit Management sold 5,400 shares of the firm’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $24.99, for a total transaction of $134,946.00. Following the transaction, the insider directly owned 358,430 shares in the company, valued at $8,957,165.70. This trade represents a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 51,309 shares of company stock valued at $1,239,645 in the last three months. Corporate insiders own 3.92% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its position in ACRES Commercial Realty by 120.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company’s stock worth $29,000 after acquiring an additional 739 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in shares of ACRES Commercial Realty during the 2nd quarter worth about $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in ACRES Commercial Realty during the 2nd quarter valued at approximately $60,000. Bank of America Corp DE boosted its stake in ACRES Commercial Realty by 110.4% during the 2nd quarter. Bank of America Corp DE now owns 3,671 shares of the company’s stock valued at $66,000 after purchasing an additional 1,926 shares during the period. Finally, Russell Investments Group Ltd. acquired a new stake in ACRES Commercial Realty in the 2nd quarter valued at approximately $93,000. Institutional investors own 40.03% of the company’s stock.

ACRES Commercial Realty Trading Down 1.3%

ACRES Commercial Realty stock opened at $20.33 on Wednesday. ACRES Commercial Realty has a 12 month low of $15.64 and a 12 month high of $24.61. The company has a quick ratio of 104.99, a current ratio of 104.99 and a debt-to-equity ratio of 2.73. The stock has a market cap of $148.17 million, a P/E ratio of 21.17 and a beta of 1.19. The company’s fifty day simple moving average is $21.72 and its 200-day simple moving average is $20.59.

ACRES Commercial Realty announced that its board has initiated a stock repurchase plan on Wednesday, October 29th that allows the company to repurchase $7.50 million in shares. This repurchase authorization allows the company to reacquire up to 5.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

About ACRES Commercial Realty

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.