ACRES Commercial Realty (NYSE:ACR) Stock Gets Price Target Reduction from Citizens Jmp

ACRES Commercial Realty (NYSE:ACR) had its price target reduced by Citizens Jmp from $23.00 to $17.00 in a research note released on Monday,Benzinga reports. They currently have a market outperform rating on the stock.

Several other equities analysts have also commented on the stock. Citigroup reiterated a “market outperform” rating on shares of ACRES Commercial Realty in a research note on Monday. Weiss Ratings cut shares of ACRES Commercial Realty from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, September 14th. Zacks Research raised shares of ACRES Commercial Realty from a “strong sell” rating to a “hold” rating in a research report on Monday, August 17th. Finally, Wall Street Zen lowered shares of ACRES Commercial Realty from a “hold” rating to a “sell” rating in a research note on Sunday, July 5th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $17.00.

ACRES Commercial Realty Trading Up 1.8%

NYSE:ACR opened at $12.52 on Monday. The stock has a 50-day simple moving average of $12.31 and a 200-day simple moving average of $17.11. The stock has a market cap of $89.24 million, a P/E ratio of -11.17 and a beta of 1.10. ACRES Commercial Realty has a 1 year low of $9.91 and a 1 year high of $24.61. The company has a debt-to-equity ratio of 3.24, a quick ratio of 108.63 and a current ratio of 108.63.

ACRES Commercial Realty (NYSE:ACR) last issued its earnings results on Wednesday, July 29th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.92). The business had revenue of $20.98 million for the quarter, compared to analyst estimates of $20.32 million. ACRES Commercial Realty had a return on equity of 2.42% and a net margin of 22.62%. As a group, analysts anticipate that ACRES Commercial Realty will post 0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ACR. Janney Montgomery Scott LLC lifted its stake in ACRES Commercial Realty by 2.3% in the first quarter. Janney Montgomery Scott LLC now owns 46,278 shares of the company’s stock valued at $894,000 after buying an additional 1,019 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of ACRES Commercial Realty during the second quarter worth approximately $256,000. Finally, GM Advisory Group LLC purchased a new position in shares of ACRES Commercial Realty during the first quarter worth approximately $223,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

About ACRES Commercial Realty

ACRES Commercial Realty Corp. (NYSE: ACR) is a real estate investment trust focused on originating and investing in commercial real estate mortgage loans and related investments. The company primarily provides financing for commercial properties, including transitional assets that may require renovation, repositioning, or other improvements before reaching stabilized operations.

Its investment activities are centered on loans secured by properties such as multifamily housing, office buildings, retail centers, industrial facilities, and lodging assets.