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

Shares of ACRES Commercial Realty Corp. (NYSE:ACR) have received an average rating of “Moderate Buy” from the six analysts that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $24.50.

Several equities research analysts have recently weighed in on ACR shares. Zacks Research raised ACRES Commercial Realty to a “hold” rating in a research note on Friday, December 19th. JMP Securities set a $24.50 target price on shares of ACRES Commercial Realty in a research 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 report on Friday, October 31st. Weiss Ratings restated a “hold (c)” rating on shares of ACRES Commercial Realty in a research report on Monday, December 29th. Finally, Citigroup reiterated an “outperform” rating on shares of ACRES Commercial Realty in a research report on Friday, October 31st.

Insiders Place Their Bets

In other news, major shareholder Eagle Point Credit Management sold 5,400 shares of ACRES Commercial Realty stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $24.99, for a total value of $134,946.00. Following the completion of the transaction, the insider directly owned 358,430 shares of the company’s stock, valued at approximately $8,957,165.70. This trade represents a 1.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders sold 51,309 shares of company stock worth $1,239,645. Company insiders own 3.92% of the company’s stock.

Institutional Investors Weigh In On ACRES Commercial Realty

Institutional investors and hedge funds have recently made changes to their positions in the business. Oaktree Capital Management LP bought a new stake in ACRES Commercial Realty in the third quarter worth approximately $8,282,000. Vanguard Group Inc. grew its position in shares of ACRES Commercial Realty by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 383,696 shares of the company’s stock worth $8,119,000 after buying an additional 11,465 shares during the period. Acadian Asset Management LLC increased its stake in shares of ACRES Commercial Realty by 16.8% in the 2nd quarter. Acadian Asset Management LLC now owns 182,679 shares of the company’s stock valued at $3,272,000 after acquiring an additional 26,226 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of ACRES Commercial Realty by 125.1% during the 2nd quarter. Geode Capital Management LLC now owns 137,996 shares of the company’s stock valued at $2,476,000 after acquiring an additional 76,688 shares during the period. Finally, Gratia Capital LLC lifted its position in shares of ACRES Commercial Realty by 64.3% during the 2nd quarter. Gratia Capital LLC now owns 125,994 shares of the company’s stock valued at $2,260,000 after acquiring an additional 49,312 shares during the period. Institutional investors own 40.03% of the company’s stock.

ACRES Commercial Realty Stock Performance

NYSE ACR opened at $20.11 on Wednesday. The company has a market capitalization of $146.60 million, a price-to-earnings ratio of 20.95 and a beta of 1.19. The company has a quick ratio of 104.99, a current ratio of 104.99 and a debt-to-equity ratio of 2.73. ACRES Commercial Realty has a twelve month low of $15.64 and a twelve month high of $24.61. The stock has a fifty day simple moving average of $21.67 and a 200 day simple moving average of $20.62.

ACRES Commercial Realty announced that its Board of Directors has approved a share buyback plan on Wednesday, October 29th that permits the company to buyback $7.50 million in outstanding shares. This buyback authorization permits the company to buy up to 5.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management 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.