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

Shares of ACRES Commercial Realty Corp. (NYSE:ACR) have received an average rating of “Hold” from the five research firms that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $24.50.

Several equities analysts have recently issued reports on ACR shares. Wall Street Zen lowered ACRES Commercial Realty from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Zacks Research upgraded ACRES Commercial Realty to a “hold” rating in a report on Friday, December 19th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of ACRES Commercial Realty in a research report on Monday, December 29th.

Insider Activity at ACRES Commercial Realty

In related news, major shareholder Eagle Point Credit Management sold 3,142 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $21.80, for a total value of $68,495.60. Following the transaction, the insider directly owned 741,977 shares of the company’s stock, valued at approximately $16,175,098.60. The trade was a 0.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 52,458 shares of company stock worth $1,251,893. Insiders own 3.92% of the company’s stock.

Institutional Trading of ACRES Commercial Realty

A number of large investors have recently added to or reduced their stakes in ACR. BNP Paribas Financial Markets raised its position in ACRES Commercial Realty by 120.2% in the third quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company’s stock worth $29,000 after acquiring an additional 739 shares during the period. JPMorgan Chase & Co. purchased a new stake in shares of ACRES Commercial Realty during the 2nd quarter worth approximately $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of ACRES Commercial Realty during the 2nd quarter worth approximately $60,000. Bank of America Corp DE raised its holdings in shares of 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 purchasing an additional 1,926 shares during the period. Finally, MetLife Investment Management LLC bought a new stake in shares of ACRES Commercial Realty in the 4th quarter worth approximately $76,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

ACRES Commercial Realty Trading Up 0.6%

Shares of ACR stock opened at $19.06 on Thursday. The company has a debt-to-equity ratio of 2.73, a quick ratio of 104.99 and a current ratio of 104.99. The company has a market capitalization of $138.88 million, a price-to-earnings ratio of 1,908.01 and a beta of 1.19. 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 simple moving average of $19.36 and a two-hundred day simple moving average of $20.59.

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.