Brokerages Set ACRES Commercial Realty Corp. (NYSE:ACR) Target Price at $24.50

ACRES Commercial Realty Corp. (NYSE:ACR) has been given a consensus recommendation of “Moderate Buy” by the six analysts that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $24.50.

A number of brokerages have recently weighed in on ACR. Citizens Jmp increased their price objective on ACRES Commercial Realty from $23.50 to $24.50 and gave the company a “market outperform” rating in a report on Friday, October 31st. Wall Street Zen upgraded shares of ACRES Commercial Realty from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Citigroup reissued an “outperform” rating on shares of ACRES Commercial Realty in a research report on Friday, October 31st. JMP Securities set a $24.50 price objective on shares of ACRES Commercial Realty in a report on Friday, October 31st. Finally, Zacks Research upgraded shares of ACRES Commercial Realty to a “hold” rating in a research note on Friday, December 19th.

ACRES Commercial Realty Price Performance

NYSE ACR opened at $18.43 on Friday. The company has a market cap of $134.32 million, a price-to-earnings ratio of 19.19 and a beta of 1.19. The company has a debt-to-equity ratio of 2.73, a current ratio of 104.99 and a quick ratio of 104.99. The stock’s fifty day moving average price is $20.95 and its 200 day moving average price is $20.71. ACRES Commercial Realty has a 1 year low of $16.51 and a 1 year high of $24.61.

ACRES Commercial Realty announced that its Board of Directors has authorized 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 repurchase up to 5.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at ACRES Commercial Realty

In other news, major shareholder Eagle Point Credit Management sold 13,979 shares of the business’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $24.93, for a total value of $348,496.47. Following the completion of the transaction, the insider owned 363,830 shares of the company’s stock, valued at $9,070,281.90. The trade was a 3.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 51,604 shares of company stock worth $1,242,276. Company insiders own 3.92% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ACR. MetLife Investment Management LLC acquired a new position in ACRES Commercial Realty in the fourth quarter valued at approximately $76,000. Eagle Point Credit Management LLC acquired a new position in shares of ACRES Commercial Realty in the 4th quarter valued at $25,118,000. Deutsche Bank AG acquired a new position in shares of ACRES Commercial Realty in the 4th quarter valued at $130,000. Bailard Inc. boosted its holdings in ACRES Commercial Realty by 86.9% during the fourth quarter. Bailard Inc. now owns 34,194 shares of the company’s stock worth $730,000 after buying an additional 15,894 shares in the last quarter. Finally, Ritholtz Wealth Management grew its position in ACRES Commercial Realty by 5.2% during the fourth quarter. Ritholtz Wealth Management now owns 42,300 shares of the company’s stock valued at $903,000 after buying an additional 2,101 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

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.