JMP Securities Forecasts Strong Price Appreciation for ACRES Commercial Realty (NYSE:ACR) Stock

ACRES Commercial Realty (NYSE:ACR) had its price target hoisted by JMP Securities to $22.00 in a research note issued to investors on Friday,Stock Target Advisor reports. The brokerage currently has a buy rating on the stock.

ACRES Commercial Realty Stock Up 1.8 %

ACRES Commercial Realty stock opened at $21.14 on Friday. The company has a debt-to-equity ratio of 3.33, a quick ratio of 73.84 and a current ratio of 73.84. The firm has a market capitalization of $163.55 million, a price-to-earnings ratio of 25.17 and a beta of 2.12. ACRES Commercial Realty has a fifty-two week low of $10.54 and a fifty-two week high of $21.25. The stock’s fifty day moving average is $18.31 and its two-hundred day moving average is $16.79.

Insider Buying and Selling at ACRES Commercial Realty

In related news, major shareholder Eagle Point Credit Management sold 7,335 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $22.40, for a total transaction of $164,304.00. Following the sale, the insider now owns 889,031 shares of the company’s stock, valued at $19,914,294.40. This trade represents a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have sold 27,277 shares of company stock valued at $660,846. Insiders own 4.07% of the company’s stock.

Institutional Trading of ACRES Commercial Realty

A number of large investors have recently made changes to their positions in ACR. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of ACRES Commercial Realty during the third quarter valued at $177,000. Biltmore Family Office LLC boosted its stake in shares of ACRES Commercial Realty by 24.8% during the third quarter. Biltmore Family Office LLC now owns 15,600 shares of the company’s stock valued at $244,000 after acquiring an additional 3,100 shares during the last quarter. Barclays PLC boosted its stake in shares of ACRES Commercial Realty by 147.1% during the third quarter. Barclays PLC now owns 3,499 shares of the company’s stock valued at $55,000 after acquiring an additional 2,083 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of ACRES Commercial Realty during the fourth quarter valued at $412,000. Finally, Raymond James Financial Inc. acquired a new stake in ACRES Commercial Realty in the 4th quarter worth about $829,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

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.