Weiss Ratings Reaffirms “Hold (C-)” Rating for ACRES Commercial Realty (NYSE:ACR)

ACRES Commercial Realty (NYSE:ACR)‘s stock had its “hold (c-)” rating reiterated by equities researchers at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Separately, JMP Securities increased their price objective on ACRES Commercial Realty from $22.00 to $23.50 and gave the company a “market outperform” rating in a research report on Thursday, September 11th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $23.50.

ACRES Commercial Realty Price Performance

Shares of NYSE:ACR opened at $20.55 on Wednesday. ACRES Commercial Realty has a one year low of $14.87 and a one year high of $23.81. The stock has a fifty day moving average of $20.59 and a 200-day moving average of $19.18. The company has a market capitalization of $152.65 million, a PE ratio of -1,026.74 and a beta of 1.80. The company has a debt-to-equity ratio of 3.01, a quick ratio of 69.53 and a current ratio of 69.53.

Insider Transactions at ACRES Commercial Realty

In other ACRES Commercial Realty news, major shareholder Eagle Point Credit Management sold 2,500 shares of the business’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $22.68, for a total transaction of $56,700.00. Following the sale, the insider directly owned 771,484 shares of the company’s stock, valued at $17,497,257.12. The trade was a 0.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 73,195 shares of company stock worth $1,640,491. 3.92% of the stock is owned by insiders.

Institutional Trading of ACRES Commercial Realty

Several large investors have recently added to or reduced their stakes in ACR. JPMorgan Chase & Co. acquired a new position in shares of ACRES Commercial Realty in the second quarter worth $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of ACRES Commercial Realty in the second quarter worth $60,000. Bank of America Corp DE increased 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 worth $66,000 after acquiring an additional 1,926 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of ACRES Commercial Realty in the second quarter worth $93,000. Finally, New York State Common Retirement Fund acquired a new position in shares of ACRES Commercial Realty in the second quarter worth $106,000. 40.03% of the stock is owned by institutional investors and hedge funds.

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.