ACRES Commercial Realty (NYSE:ACR) Upgraded to “Hold” at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of ACRES Commercial Realty (NYSE:ACR – Free Report) from a sell rating to a hold rating in a research note released on Saturday.

ACR has been the subject of a number of other reports. Zacks Research raised shares of ACRES Commercial Realty to a “hold” rating in a research note on Friday, December 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ACRES Commercial Realty in a research report on Monday, December 29th. JMP Securities set a $24.50 target price on ACRES Commercial Realty in a research note on Friday, October 31st. Citigroup reiterated an “outperform” rating on shares of ACRES Commercial Realty in a research note on Friday, October 31st. Finally, Citizens Jmp increased their price objective on ACRES Commercial Realty from $23.50 to $24.50 and gave the stock a “market outperform” rating in a research report on Friday, October 31st. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, ACRES Commercial Realty currently has an average rating of “Moderate Buy” and an average target price of $24.50.

Check Out Our Latest Stock Analysis on ACR

ACRES Commercial Realty Trading Up 1.1%

NYSE:ACR opened at $20.76 on Friday. The firm has a market capitalization of $151.34 million, a price-to-earnings ratio of 21.63 and a beta of 1.19. The business’s 50-day moving average price is $21.86 and its two-hundred day moving average price is $20.48. The company has a current ratio of 104.99, a quick ratio of 104.99 and a debt-to-equity ratio of 2.73. ACRES Commercial Realty has a 1-year low of $15.64 and a 1-year high of $24.61.

ACRES Commercial Realty declared that its Board of Directors has authorized a share repurchase program on Wednesday, October 29th that permits the company to buyback $7.50 million in shares. This buyback authorization permits the company to buy up to 5.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, major shareholder Eagle Point Credit Management sold 5,054 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $25.20, for a total transaction of $127,360.80. Following the transaction, the insider owned 382,409 shares in the company, valued at approximately $9,636,706.80. This represents a 1.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 28,228 shares of company stock worth $664,059. 3.92% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ACR. BNP Paribas Financial Markets increased its stake in ACRES Commercial Realty by 120.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company’s stock valued at $29,000 after buying an additional 739 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in ACRES Commercial Realty during the 2nd quarter valued at about $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in ACRES Commercial Realty in the 2nd quarter valued at $60,000. Bank of America Corp DE grew its position in ACRES Commercial Realty by 110.4% during the second 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 in the last quarter. Finally, Russell Investments Group Ltd. bought a new position in shares of ACRES Commercial Realty in the second quarter worth approximately $93,000. Institutional investors own 40.03% of the company’s stock.

ACRES Commercial Realty Company Profile

(Get Free Report)

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.

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