Zacks Research Upgrades ACRES Commercial Realty (NYSE:ACR) to Hold

ACRES Commercial Realty (NYSE:ACR) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Several other research analysts also recently weighed in on the company. Wall Street Zen downgraded ACRES Commercial Realty from a “hold” rating to a “sell” rating in a research note on Sunday, July 5th. Weiss Ratings cut shares of ACRES Commercial Realty from a “hold (c)” rating to a “sell (d+)” rating in a research report on Tuesday, August 4th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $24.50.

ACRES Commercial Realty Trading Up 2.8%

Shares of ACRES Commercial Realty stock opened at $14.93 on Monday. The company’s fifty day simple moving average is $16.88 and its 200-day simple moving average is $18.58. The stock has a market capitalization of $106.42 million, a PE ratio of -13.33 and a beta of 1.08. ACRES Commercial Realty has a 1-year low of $13.83 and a 1-year high of $24.61. The company has a debt-to-equity ratio of 3.24, a current ratio of 108.63 and a quick ratio of 108.63.

ACRES Commercial Realty (NYSE:ACR) last posted its quarterly earnings data on Wednesday, July 29th. The company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.92). The company had revenue of $20.98 million for the quarter, compared to analysts’ expectations of $20.32 million. ACRES Commercial Realty had a net margin of 22.62% and a return on equity of 2.42%. As a group, equities analysts anticipate that ACRES Commercial Realty will post 0.15 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Eagle Point Credit Management sold 5,981 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $24.37, for a total value of $145,756.97. Following the transaction, the insider owned 339,325 shares of the company’s stock, valued at $8,269,350.25. This represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 21,773 shares of company stock valued at $517,787. 4.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ACRES Commercial Realty

Several institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets increased its holdings in shares of 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 acquiring an additional 739 shares during the period. JPMorgan Chase & Co. purchased a new stake in shares of ACRES Commercial Realty during the 2nd quarter worth $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of ACRES Commercial Realty during the 2nd quarter worth $60,000. MetLife Investment Management LLC bought a new stake in ACRES Commercial Realty during the fourth quarter valued at about $76,000. Finally, Bank of America Corp DE boosted 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 valued at $66,000 after purchasing an additional 1,926 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

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.