ACRES Commercial Realty (NYSE:ACR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of ACRES Commercial Realty (NYSE:ACR) from a strong sell rating to a hold rating in a report published on Saturday morning.

A number of other research firms also recently issued reports on ACR. Citigroup reissued an “outperform” rating on shares of ACRES Commercial Realty in a report on Friday. Citizens Jmp lifted their price target 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. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ACRES Commercial Realty in a report on Wednesday, October 8th. Finally, JMP Securities set a $24.50 price target on shares of ACRES Commercial Realty in a report on Friday. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $24.50.

ACRES Commercial Realty Stock Up 2.2%

Shares of NYSE ACR opened at $21.46 on Friday. ACRES Commercial Realty has a 1 year low of $14.94 and a 1 year high of $23.81. The stock has a market capitalization of $159.36 million, a P/E ratio of -1,072.46 and a beta of 1.80. The company has a 50-day moving average price of $20.58 and a 200-day moving average price of $19.25. The company has a debt-to-equity ratio of 3.01, a current ratio of 69.53 and a quick ratio of 69.53.

ACRES Commercial Realty declared that its Board of Directors has approved a share buyback plan on Wednesday, October 29th that authorizes the company to buyback $7.50 million in outstanding shares. This buyback authorization authorizes the company to buy up to 5.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Activity at ACRES Commercial Realty

In other ACRES Commercial Realty news, major shareholder Eagle Point Credit Management sold 10,062 shares of the stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $22.57, for a total value of $227,099.34. Following the completion of the sale, the insider directly owned 776,433 shares of the company’s stock, valued at $17,524,092.81. This represents a 1.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders sold 44,049 shares of company stock worth $990,530. Corporate insiders own 3.92% of the company’s stock.

Hedge Funds Weigh In On ACRES Commercial Realty

Several hedge funds and other institutional investors have recently modified their holdings of ACR. Geode Capital Management LLC grew its stake in shares of ACRES Commercial Realty by 125.1% during the second quarter. Geode Capital Management LLC now owns 137,996 shares of the company’s stock worth $2,476,000 after purchasing an additional 76,688 shares during the period. Gratia Capital LLC grew its stake in shares of ACRES Commercial Realty by 64.3% during the second quarter. Gratia Capital LLC now owns 125,994 shares of the company’s stock worth $2,260,000 after purchasing an additional 49,312 shares during the period. Informed Momentum Co LLC acquired a new stake in shares of ACRES Commercial Realty during the first quarter worth $697,000. Raymond James Financial Inc. increased its stake in shares of ACRES Commercial Realty by 60.6% in the 2nd quarter. Raymond James Financial Inc. now owns 78,150 shares of the company’s stock valued at $1,402,000 after acquiring an additional 29,503 shares during the last quarter. Finally, 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 during the last quarter. Institutional investors own 40.03% of the company’s stock.

About ACRES Commercial Realty

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.