ACRES Commercial Realty (NYSE:ACR) Trading Down 1.2% – What’s Next?

ACRES Commercial Realty Corp. (NYSE:ACR)’s stock price was down 1.2% on Monday . The company traded as low as $13.37 and last traded at $13.3950. 25,961 shares changed hands during mid-day trading, a decline of 8% from the average daily volume of 28,363 shares. The stock had previously closed at $13.56.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ACR shares. Wall Street Zen lowered ACRES Commercial Realty from a “hold” rating to a “sell” rating in a research note on Sunday, July 5th. Zacks Research upgraded ACRES Commercial Realty from a “strong sell” rating to a “hold” rating in a research note on Monday, August 17th. Finally, Weiss Ratings lowered ACRES Commercial Realty from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $24.50.

ACRES Commercial Realty Stock Down 0.8%

The firm has a market cap of $95.15 million, a PE ratio of -11.92 and a beta of 1.06. The company has a quick ratio of 108.63, a current ratio of 108.63 and a debt-to-equity ratio of 3.24. The business has a 50-day moving average price of $15.56 and a two-hundred day moving average price of $17.93.

ACRES Commercial Realty (NYSE:ACR) last released its earnings results on Wednesday, July 29th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.92). The company had revenue of $20.98 million for the quarter, compared to analyst estimates of $20.32 million. ACRES Commercial Realty had a return on equity of 2.42% and a net margin of 22.62%. On average, equities research analysts expect that ACRES Commercial Realty Corp. will post 0.15 EPS for the current year.

Insider Activity

In related news, major shareholder Eagle Point Credit Management sold 2,212 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $21.80, for a total transaction of $48,221.60. Following the transaction, the insider owned 716,679 shares in the company, valued at $15,623,602.20. This trade represents a 0.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 6,973 shares of company stock valued at $153,435. 4.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ACRES Commercial Realty

A number of hedge funds have recently modified their holdings of ACR. GM Advisory Group LLC purchased a new stake in ACRES Commercial Realty in the 1st quarter valued at $223,000. Bank of New York Mellon Corp acquired a new position in ACRES Commercial Realty in the second quarter valued at $256,000. Finally, Janney Montgomery Scott LLC increased its stake in ACRES Commercial Realty by 2.3% in the first quarter. Janney Montgomery Scott LLC now owns 46,278 shares of the company’s stock valued at $894,000 after purchasing an additional 1,019 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

About ACRES Commercial Realty

ACRES Commercial Realty Corp. is a real estate investment trust focused on commercial real estate finance. The company originates, acquires and manages commercial real estate mortgage loans and other debt investments secured by income-producing properties, primarily in the United States.

Through its commercial real estate lending platform, ACRES provides financing for properties and projects across sectors such as multifamily, office, industrial, retail, hospitality and self-storage. Its investments may include senior mortgage loans and other forms of commercial real estate-related credit designed to support property acquisitions, refinancing and redevelopment.

The company was formerly known as Exantas Capital Corp.