ACRES Commercial Realty Corp. (NYSE:ACR) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of ACRES Commercial Realty Corp. (NYSE:ACR) have earned an average recommendation of “Moderate Buy” from the five research firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $24.50.

Several equities analysts recently issued reports on ACR shares. JMP Securities set a $24.50 price objective on ACRES Commercial Realty in a research report on Friday, October 31st. Weiss Ratings reissued a “hold (c)” rating on shares of ACRES Commercial Realty in a research report on Monday, November 17th. Wall Street Zen raised shares of ACRES Commercial Realty from a “strong sell” rating to a “hold” rating in a report on Saturday, November 1st. Citigroup reiterated an “outperform” rating on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Finally, Citizens Jmp boosted their price target on shares of ACRES Commercial Realty from $23.50 to $24.50 and gave the stock a “market outperform” rating in a research note on Friday, October 31st.

ACRES Commercial Realty Price Performance

Shares of NYSE:ACR opened at $20.55 on Tuesday. The company has a debt-to-equity ratio of 3.01, a current ratio of 69.53 and a quick ratio of 69.53. The company has a market capitalization of $149.71 million, a PE ratio of -1,026.89 and a beta of 1.77. ACRES Commercial Realty has a 1-year low of $14.94 and a 1-year high of $23.81. The business has a fifty day moving average price of $20.65 and a 200-day moving average price of $19.57.

ACRES Commercial Realty announced that its board has initiated a share buyback plan on Wednesday, October 29th that allows the company to buyback $7.50 million in outstanding shares. This buyback authorization allows the company to reacquire up to 5.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at ACRES Commercial Realty

In related news, major shareholder Eagle Point Credit Management sold 10,062 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $22.57, for a total transaction of $227,099.34. Following the sale, the insider owned 776,433 shares in the company, valued at approximately $17,524,092.81. This represents a 1.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 48,113 shares of company stock worth $1,093,362. Insiders own 3.92% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. increased its position in ACRES Commercial Realty by 2.5% during the 3rd quarter. Raymond James Financial Inc. now owns 80,129 shares of the company’s stock valued at $1,696,000 after purchasing an additional 1,979 shares during the period. Oaktree Capital Management LP purchased a new position in ACRES Commercial Realty in the third quarter valued at $8,282,000. BNP Paribas Financial Markets lifted its holdings in ACRES Commercial Realty by 120.2% during the third quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company’s stock valued at $29,000 after purchasing an additional 739 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in ACRES Commercial Realty by 68.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 8,835 shares of the company’s stock worth $186,000 after purchasing an additional 3,587 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in ACRES Commercial Realty by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 383,696 shares of the company’s stock valued at $8,119,000 after buying an additional 11,465 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

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.