ACRES Commercial Realty Corp. (NYSE:ACR) Receives $24.50 Consensus Price Target from Brokerages

Shares of ACRES Commercial Realty Corp. (NYSE:ACR) have earned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $24.50.

A number of analysts recently weighed in on the company. JMP Securities set a $24.50 price target on ACRES Commercial Realty in a research note on Friday, October 31st. Weiss Ratings reissued a “hold (c)” rating on shares of ACRES Commercial Realty in a report on Monday, December 29th. Wall Street Zen raised shares of ACRES Commercial Realty from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Zacks Research upgraded shares of ACRES Commercial Realty to a “hold” rating in a report on Friday, December 19th. Finally, Citigroup reissued an “outperform” rating on shares of ACRES Commercial Realty in a report on Friday, October 31st.

ACRES Commercial Realty Price Performance

Shares of NYSE:ACR opened at $18.27 on Friday. ACRES Commercial Realty has a 52 week low of $16.51 and a 52 week high of $24.61. The company has a 50-day moving average price of $21.13 and a 200 day moving average price of $20.75. The company has a market cap of $133.22 million, a P/E ratio of 19.04 and a beta of 1.19. The company has a quick ratio of 104.99, a current ratio of 104.99 and a debt-to-equity ratio of 2.73.

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

Insider Buying and Selling at ACRES Commercial Realty

In related news, major shareholder Eagle Point Credit Management sold 5,200 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $22.11, for a total value of $114,972.00. Following the sale, the insider owned 746,233 shares in the company, valued at $16,499,211.63. This represents a 0.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 52,337 shares of company stock valued at $1,260,711. Corporate insiders own 3.92% of the company’s stock.

Institutional Trading of ACRES Commercial Realty

A number of institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC increased its position in shares of ACRES Commercial Realty by 16.8% in the second quarter. Acadian Asset Management LLC now owns 182,679 shares of the company’s stock valued at $3,272,000 after buying an additional 26,226 shares in the last quarter. Gratia Capital LLC grew its position in shares of ACRES Commercial Realty by 64.3% in the second quarter. Gratia Capital LLC now owns 125,994 shares of the company’s stock valued at $2,260,000 after purchasing an additional 49,312 shares during the last quarter. Ritholtz Wealth Management grew its position in shares of ACRES Commercial Realty by 12.0% in the second quarter. Ritholtz Wealth Management now owns 33,889 shares of the company’s stock valued at $608,000 after purchasing an additional 3,618 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of ACRES Commercial Realty by 177.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,082 shares of the company’s stock worth $171,000 after purchasing an additional 5,173 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of 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 purchasing an additional 739 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

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.