ACRES Commercial Realty (NYSE:ACR) Posts Quarterly Earnings Results, Misses Estimates By $0.42 EPS

ACRES Commercial Realty (NYSE:ACR) announced its earnings results on Wednesday. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.42), FiscalAI reports. ACRES Commercial Realty had a net margin of 35.16% and a return on equity of 4.74%. The company had revenue of $20.03 million for the quarter, compared to analysts’ expectations of $20.58 million.

ACRES Commercial Realty Trading Up 0.5%

ACRES Commercial Realty stock traded up $0.09 during trading hours on Wednesday, reaching $18.86. The company had a trading volume of 13,113 shares, compared to its average volume of 22,162. The firm has a market cap of $137.49 million, a price-to-earnings ratio of 19.65 and a beta of 1.19. ACRES Commercial Realty has a 12-month low of $16.51 and a 12-month high of $24.61. 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 company has a 50-day moving average price of $19.68 and a 200 day moving average price of $20.65.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ACR shares. Wall Street Zen lowered shares of ACRES Commercial Realty from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings reiterated a “hold (c)” rating on shares of ACRES Commercial Realty in a report on Monday, December 29th. Finally, Zacks Research raised ACRES Commercial Realty to a “hold” rating in a research report on Friday, December 19th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $24.50.

Insiders Place Their Bets

In other news, major shareholder Eagle Point Credit Management sold 1,301 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $25.28, for a total transaction of $32,889.28. Following the completion of the transaction, the insider directly owned 351,347 shares of the company’s stock, valued at approximately $8,882,052.16. This represents a 0.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 48,679 shares of company stock worth $1,168,012. Corporate insiders own 3.92% of the company’s stock.

Institutional Investors Weigh In On ACRES Commercial Realty

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Eagle Point Credit Management LLC bought a new position in shares of ACRES Commercial Realty in the fourth quarter worth about $25,118,000. Geode Capital Management LLC lifted its holdings in shares of ACRES Commercial Realty by 125.1% in the second quarter. Geode Capital Management LLC now owns 137,996 shares of the company’s stock worth $2,476,000 after buying an additional 76,688 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in shares of ACRES Commercial Realty by 60.6% in the second quarter. Raymond James Financial Inc. now owns 78,150 shares of the company’s stock worth $1,402,000 after buying an additional 29,503 shares in the last quarter. Jane Street Group LLC grew its stake in ACRES Commercial Realty by 190.8% during the first quarter. Jane Street Group LLC now owns 38,434 shares of the company’s stock valued at $833,000 after acquiring an additional 25,216 shares in the last quarter. Finally, Goldman Sachs Group Inc. bought a new stake in ACRES Commercial Realty in the 1st quarter valued at $488,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

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.