ACRES Commercial Realty Corp. (NYSE:ACR) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of ACRES Commercial Realty Corp. (NYSE:ACR) have received an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $24.50.

ACR has been the subject of a number of recent analyst reports. Citigroup reaffirmed an “outperform” rating on shares of ACRES Commercial Realty in a report on Friday, October 31st. Citizens Jmp raised 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. Wall Street Zen downgraded ACRES Commercial Realty from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings reissued a “hold (c)” rating on shares of ACRES Commercial Realty in a research note on Monday. Finally, JMP Securities set a $24.50 price objective on shares of ACRES Commercial Realty in a report on Friday, October 31st.

ACRES Commercial Realty Trading Down 1.7%

Shares of NYSE ACR opened at $23.62 on Friday. 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 stock has a market capitalization of $172.19 million, a P/E ratio of 24.60 and a beta of 1.21. The business has a fifty day moving average price of $21.39 and a 200 day moving average price of $20.11. ACRES Commercial Realty has a 1-year low of $15.35 and a 1-year high of $24.61.

ACRES Commercial Realty announced that its board has authorized a stock buyback plan on Wednesday, October 29th that permits the company to repurchase $7.50 million in shares. This repurchase authorization permits the company to purchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Transactions at ACRES Commercial Realty

In other ACRES Commercial Realty news, major shareholder Eagle Point Credit Management sold 5,054 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $25.20, for a total transaction of $127,360.80. Following the sale, the insider directly owned 382,409 shares in the company, valued at approximately $9,636,706.80. The trade was a 1.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 25,000 shares of company stock valued at $592,566. Insiders own 3.92% of the company’s stock.

Hedge Funds Weigh In On ACRES Commercial Realty

Several institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its position in ACRES Commercial Realty by 120.2% in the third quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company’s stock valued at $29,000 after acquiring an additional 739 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in ACRES Commercial Realty in the second quarter worth about $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of ACRES Commercial Realty in the 2nd quarter worth approximately $60,000. Bank of America Corp DE boosted its holdings in 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 purchasing an additional 1,926 shares during the period. Finally, Russell Investments Group Ltd. acquired a new stake in ACRES Commercial Realty during the second quarter worth about $93,000. 40.03% of the stock is currently 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.