ACRES Commercial Realty (NYSE:ACR) Raised to “Hold” at Wall Street Zen

ACRES Commercial Realty (NYSE:ACR) was upgraded by research analysts at Wall Street Zen from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other analysts have also issued reports on the stock. JMP Securities set a $24.50 target price on shares of ACRES Commercial Realty in a research report on Friday. Citizens Jmp increased their price target on ACRES Commercial Realty from $23.50 to $24.50 and gave the stock a “market outperform” rating in a research note on Friday. Citigroup reiterated an “outperform” rating on shares of ACRES Commercial Realty in a research note on Friday. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of ACRES Commercial Realty in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $24.50.

ACRES Commercial Realty Price Performance

Shares of NYSE:ACR opened at $20.98 on Friday. The business’s fifty day moving average price is $20.56 and its two-hundred day moving average price is $19.22. The stock has a market cap of $155.76 million, a PE ratio of -1,048.23 and a beta of 1.80. The company has a debt-to-equity ratio of 3.01, a quick ratio of 69.53 and a current ratio of 69.53. ACRES Commercial Realty has a one year low of $14.94 and a one year high of $23.81.

ACRES Commercial Realty declared that its board has authorized a stock repurchase plan on Wednesday, October 29th that permits the company to repurchase $7.50 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other ACRES Commercial Realty news, major shareholder Eagle Point Credit Management sold 10,062 shares of the business’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $22.57, for a total transaction of $227,099.34. Following the transaction, the insider owned 776,433 shares in the company, valued at $17,524,092.81. The trade was a 1.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 44,049 shares of company stock valued at $990,530 in the last 90 days. Company insiders own 3.92% of the company’s stock.

Institutional Trading of ACRES Commercial Realty

Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. acquired a new stake in ACRES Commercial Realty in the second quarter valued at approximately $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in ACRES Commercial Realty in the 2nd quarter worth $60,000. Bank of America Corp DE increased its stake in ACRES Commercial Realty by 110.4% during the second quarter. Bank of America Corp DE now owns 3,671 shares of the company’s stock valued at $66,000 after purchasing an additional 1,926 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in ACRES Commercial Realty during the second quarter valued at $93,000. Finally, New York State Common Retirement Fund bought a new stake in ACRES Commercial Realty during the second quarter valued at $106,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

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.