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

Shares of ACRES Commercial Realty Corp. (NYSE:ACR) have earned an average recommendation of “Hold” from the five ratings firms that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $24.50.

A number of equities analysts have weighed in on the company. Wall Street Zen downgraded ACRES Commercial Realty from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Zacks Research raised shares of ACRES Commercial Realty to a “hold” rating in a research report on Friday, December 19th. Finally, Weiss Ratings reaffirmed 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 other news, major shareholder Eagle Point Credit Management sold 13,979 shares of the firm’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 in the company, valued at $9,070,281.90. This trade represents a 3.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 53,814 shares of company stock worth $1,284,332. Corporate insiders own 3.92% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC raised its stake in shares of ACRES Commercial Realty by 16.8% during the 2nd quarter. Acadian Asset Management LLC now owns 182,679 shares of the company’s stock worth $3,272,000 after purchasing an additional 26,226 shares in the last quarter. Gratia Capital LLC boosted its holdings in shares of ACRES Commercial Realty by 64.3% in the 2nd quarter. Gratia Capital LLC now owns 125,994 shares of the company’s stock valued at $2,260,000 after buying an additional 49,312 shares during the last quarter. MetLife Investment Management LLC bought a new position in shares of ACRES Commercial Realty in the fourth quarter valued at $76,000. Bank of America Corp DE grew its stake in shares of ACRES Commercial Realty by 110.4% in the second quarter. Bank of America Corp DE now owns 3,671 shares of the company’s stock valued at $66,000 after buying an additional 1,926 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in ACRES Commercial Realty during the second quarter worth $60,000. 40.03% of the stock is currently owned by institutional investors.

ACRES Commercial Realty Stock Down 0.1%

NYSE:ACR opened at $19.00 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 cap of $138.51 million, a PE ratio of 1,901.90 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 stock has a 50-day simple moving average of $19.45 and a 200 day simple moving average of $20.62.

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.