JMP Securities Issues Positive Forecast for ACRES Commercial Realty (NYSE:ACR) Stock Price

ACRES Commercial Realty (NYSE:ACR) had its price target boosted by JMP Securities from $22.00 to $23.50 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

ACRES Commercial Realty Trading Up 0.5%

NYSE:ACR opened at $21.11 on Thursday. The stock has a market capitalization of $156.87 million, a price-to-earnings ratio of -1,055.12 and a beta of 1.82. The company has a quick ratio of 69.53, a current ratio of 69.53 and a debt-to-equity ratio of 3.01. The firm has a 50 day moving average of $19.56 and a 200 day moving average of $19.29. ACRES Commercial Realty has a 52 week low of $14.87 and a 52 week high of $23.81.

Insider Activity at ACRES Commercial Realty

In related news, major shareholder Eagle Point Credit Management sold 15,084 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $22.30, for a total value of $336,373.20. Following the completion of the transaction, the insider directly owned 819,809 shares of the company’s stock, valued at $18,281,740.70. This trade represents a 1.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have sold 78,058 shares of company stock valued at $1,744,200. Company insiders own 3.92% of the company’s stock.

Hedge Funds Weigh In On ACRES Commercial Realty

Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. purchased a new position in shares of ACRES Commercial Realty in the 2nd quarter valued at approximately $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in ACRES Commercial Realty during the 2nd quarter worth approximately $60,000. Bank of America Corp DE raised its position in ACRES Commercial Realty by 110.4% during the 2nd quarter. Bank of America Corp DE now owns 3,671 shares of the company’s stock worth $66,000 after buying an additional 1,926 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in ACRES Commercial Realty during the 2nd quarter worth approximately $93,000. Finally, New York State Common Retirement Fund purchased a new position in ACRES Commercial Realty during the 2nd quarter worth approximately $106,000. 40.03% of the stock is 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.