ACRES Commercial Realty Corp. (NYSE:ACR) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

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

A number of equities analysts have issued reports on ACR shares. Citigroup reissued an “outperform” rating on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Wall Street Zen cut shares of ACRES Commercial Realty from a “hold” rating to a “sell” rating in a report on Saturday, December 20th. Weiss Ratings restated a “hold (c)” rating on shares of ACRES Commercial Realty in a research report on Monday. Zacks Research raised shares of ACRES Commercial Realty to a “hold” rating in a report on Friday, December 19th. Finally, Citizens Jmp lifted their price objective on ACRES Commercial Realty from $23.50 to $24.50 and gave the company a “market outperform” rating in a research note on Friday, October 31st.

Insiders Place Their Bets

In other ACRES Commercial Realty news, major shareholder Eagle Point Credit Management sold 5,054 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $25.20, for a total value of $127,360.80. Following the completion of the transaction, the insider directly owned 382,409 shares of the company’s stock, valued at approximately $9,636,706.80. The trade was a 1.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 24,774 shares of company stock worth $587,455 in the last three months. 3.92% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ACRES Commercial Realty

Institutional investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC acquired a new position in shares of ACRES Commercial Realty in the 1st quarter valued at $133,000. Goldman Sachs Group Inc. purchased a new position in ACRES Commercial Realty in the first quarter valued at $488,000. Jane Street Group LLC raised its position in shares of ACRES Commercial Realty by 190.8% in the first quarter. Jane Street Group LLC now owns 38,434 shares of the company’s stock worth $833,000 after acquiring an additional 25,216 shares during the period. Acadian Asset Management LLC raised its position in shares of ACRES Commercial Realty by 1.2% in the first quarter. Acadian Asset Management LLC now owns 156,453 shares of the company’s stock worth $3,386,000 after acquiring an additional 1,851 shares during the period. Finally, Ritholtz Wealth Management boosted its stake in shares of ACRES Commercial Realty by 12.0% during the 2nd quarter. Ritholtz Wealth Management now owns 33,889 shares of the company’s stock worth $608,000 after acquiring an additional 3,618 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

ACRES Commercial Realty Trading Down 2.3%

NYSE ACR opened at $21.67 on Friday. The company has a current ratio of 104.99, a quick ratio of 104.99 and a debt-to-equity ratio of 2.73. ACRES Commercial Realty has a 12-month low of $15.64 and a 12-month high of $24.61. The stock has a market cap of $157.99 million, a P/E ratio of 22.58 and a beta of 1.21. The company has a fifty day simple moving average of $21.61 and a two-hundred day simple moving average of $20.25.

ACRES Commercial Realty announced that its board has approved a stock repurchase program on Wednesday, October 29th that authorizes the company to buyback $7.50 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 5.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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.