ACRES Commercial Realty (NYSE:ACR) Price Target Cut to $17.00 by Analysts at Citizens Jmp

ACRES Commercial Realty (NYSE:ACR) had its price target lowered by Citizens Jmp from $23.00 to $17.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “market outperform” rating on the stock. Citizens Jmp‘s price objective points to a potential upside of 47.44% from the stock’s previous close.

ACR has been the subject of a number of other reports. Wall Street Zen downgraded ACRES Commercial Realty from a “hold” rating to a “sell” rating in a report on Sunday, July 5th. Weiss Ratings downgraded ACRES Commercial Realty from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, September 14th. Citigroup restated a “market outperform” rating on shares of ACRES Commercial Realty in a research report on Monday. Finally, Zacks Research raised ACRES Commercial Realty from a “strong sell” rating to a “hold” rating in a research note on Monday, August 17th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $17.00.

ACRES Commercial Realty Trading Down 1.4%

Shares of ACR traded down $0.16 during trading hours on Monday, hitting $11.53. 3,726 shares of the stock were exchanged, compared to its average volume of 30,632. ACRES Commercial Realty has a fifty-two week low of $9.91 and a fifty-two week high of $24.61. The company has a debt-to-equity ratio of 3.24, a current ratio of 108.63 and a quick ratio of 108.63. The business has a 50-day moving average of $12.45 and a 200-day moving average of $16.37. The firm has a market capitalization of $82.21 million, a P/E ratio of -10.27 and a beta of 1.10.

ACRES Commercial Realty (NYSE:ACR) last released its earnings results on Wednesday, July 29th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.92). The firm had revenue of $20.98 million during the quarter, compared to analyst estimates of $20.32 million. ACRES Commercial Realty had a net margin of 22.62% and a return on equity of 2.42%. On average, research analysts expect that ACRES Commercial Realty will post 0.15 EPS for the current year.

Insider Transactions at ACRES Commercial Realty

In related news, major shareholder Eagle Point Credit Management sold 2,212 shares of the stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $21.80, for a total transaction of $48,221.60. Following the transaction, the insider directly owned 716,679 shares of the company’s stock, valued at $15,623,602.20. This represents a 0.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 3,508 shares of company stock worth $76,472 over the last 90 days. 4.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ACRES Commercial Realty

Several hedge funds and other institutional investors have recently bought and sold shares of ACR. GM Advisory Group LLC acquired a new position in shares of ACRES Commercial Realty during the first quarter valued at about $223,000. Bank of New York Mellon Corp bought a new position in shares of ACRES Commercial Realty during the 2nd quarter worth about $256,000. Finally, Janney Montgomery Scott LLC grew its stake in shares of ACRES Commercial Realty by 2.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 46,278 shares of the company’s stock valued at $894,000 after buying an additional 1,019 shares during the period. 40.03% of the stock is owned by institutional investors.

About ACRES Commercial Realty

ACRES Commercial Realty Corp. (NYSE: ACR) is a real estate investment trust focused on originating and investing in commercial real estate mortgage loans and related investments. The company primarily provides financing for commercial properties, including transitional assets that may require renovation, repositioning, or other improvements before reaching stabilized operations.

Its investment activities are centered on loans secured by properties such as multifamily housing, office buildings, retail centers, industrial facilities, and lodging assets.