ACRES Commercial Realty (NYSE:ACR) Announces Earnings Results

ACRES Commercial Realty (NYSE:ACR) posted its earnings results on Wednesday. The company reported ($2.26) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($2.44), Zacks reports. ACRES Commercial Realty had a return on equity of 5.61% and a net margin of 37.20%.

ACRES Commercial Realty Stock Up 1.6%

NYSE ACR traded up $0.29 during trading on Wednesday, hitting $18.40. The company’s stock had a trading volume of 38,447 shares, compared to its average volume of 25,371. ACRES Commercial Realty has a fifty-two week low of $15.61 and a fifty-two week high of $24.61. The company has a market cap of $131.21 million, a PE ratio of 28.31 and a beta of 1.09. The company has a debt-to-equity ratio of 3.36, a current ratio of 164.62 and a quick ratio of 164.62. The business’s 50 day simple moving average is $18.15 and its 200-day simple moving average is $19.08.

Insider Activity

In related news, major shareholder Eagle Point Credit Management sold 5,981 shares of the 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 directly owned 339,325 shares of the company’s stock, valued at $8,269,350.25. This trade represents a 1.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 17,280 shares of company stock worth $420,153 in the last 90 days. Corporate insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its stake in shares of ACRES Commercial Realty by 120.2% during the third quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company’s stock worth $29,000 after buying an additional 739 shares during the period. JPMorgan Chase & Co. acquired a new position in shares of ACRES Commercial Realty in the 2nd quarter valued at $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in ACRES Commercial Realty in the 2nd quarter worth $60,000. Bank of America Corp DE raised its stake in ACRES Commercial Realty by 110.4% in the 2nd quarter. Bank of America Corp DE now owns 3,671 shares of the company’s stock worth $66,000 after acquiring an additional 1,926 shares during the last quarter. Finally, MetLife Investment Management LLC acquired a new stake in ACRES Commercial Realty during the 4th quarter worth about $76,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ACR. Zacks Research lowered ACRES Commercial Realty from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. Weiss Ratings raised shares of ACRES Commercial Realty from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Finally, Wall Street Zen cut shares of ACRES Commercial Realty from a “hold” rating to a “sell” rating in a report on Sunday, July 5th. 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $24.50.

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.