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

ACRES Commercial Realty Corp. (NYSE:ACR) has been given a consensus recommendation of “Moderate Buy” by the six analysts that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $24.50.

Several equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ACRES Commercial Realty in a research report on Monday, December 29th. Citizens Jmp upped their target price on shares of ACRES Commercial Realty from $23.50 to $24.50 and gave the company a “market outperform” rating in a report on Friday, October 31st. JMP Securities set a $24.50 price target on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Wall Street Zen raised shares of ACRES Commercial Realty from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Finally, Citigroup restated an “outperform” rating on shares of ACRES Commercial Realty in a research note on Friday, October 31st.

Insider Buying and Selling at ACRES Commercial Realty

In related news, major shareholder Eagle Point Credit Management sold 13,979 shares of the business’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $24.93, for a total transaction of $348,496.47. Following the completion of the transaction, the insider directly owned 363,830 shares in the company, valued at approximately $9,070,281.90. The trade was a 3.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 56,091 shares of company stock worth $1,345,606. 3.92% of the stock is owned by insiders.

Hedge Funds Weigh In On ACRES Commercial Realty

A number of hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets raised its position in shares of ACRES Commercial Realty by 120.2% during the 3rd 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 during the period. JPMorgan Chase & Co. purchased a new stake in ACRES Commercial Realty in the 2nd quarter worth $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in ACRES Commercial Realty during the second quarter valued at about $60,000. Bank of America Corp DE lifted its position 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 acquiring an additional 1,926 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in shares of ACRES Commercial Realty in the second quarter valued at about $93,000. 40.03% of the stock is currently owned by institutional investors.

ACRES Commercial Realty Stock Performance

Shares of ACR opened at $18.93 on Friday. The firm has a market capitalization of $138.00 million, a P/E ratio of 19.72 and a beta of 1.19. The company has a debt-to-equity ratio of 2.73, a current ratio of 104.99 and a quick ratio of 104.99. ACRES Commercial Realty has a one year low of $16.51 and a one year high of $24.61. The business has a fifty day moving average of $21.22 and a 200 day moving average of $20.74.

ACRES Commercial Realty announced that its Board of Directors has approved a share repurchase program on Wednesday, October 29th that authorizes the company to repurchase $7.50 million in shares. This repurchase authorization authorizes the company to buy up to 5.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

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.