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

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

Several other research analysts have also issued reports on the stock. Zacks Research upgraded shares of ACRES Commercial Realty to a “hold” rating in a research note on Friday, December 19th. JMP Securities set a $24.50 price objective on shares of ACRES Commercial Realty in a report on Friday, October 31st. Citizens Jmp lifted their target price 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, October 31st. Citigroup reissued an “outperform” rating on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ACRES Commercial Realty in a research note on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.50.

ACRES Commercial Realty Price Performance

ACR opened at $20.43 on Friday. The company has a current ratio of 104.99, a quick ratio of 104.99 and a debt-to-equity ratio of 2.73. The company has a market cap of $148.90 million, a price-to-earnings ratio of 21.28 and a beta of 1.19. The stock has a fifty day simple moving average of $21.84 and a two-hundred day simple moving average of $20.53. ACRES Commercial Realty has a 12-month low of $15.64 and a 12-month high of $24.61.

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

Insider Buying and Selling at ACRES Commercial Realty

In other news, major shareholder Eagle Point Credit Management sold 5,054 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $25.20, for a total transaction of $127,360.80. Following the transaction, the insider directly owned 382,409 shares of the company’s stock, valued at $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 SEC, which is available through the SEC website. Insiders sold a total of 28,228 shares of company stock valued at $664,059 in the last three months. 3.92% of the stock is owned by insiders.

Hedge Funds Weigh In On ACRES Commercial Realty

A number of institutional investors and hedge funds have recently modified their holdings of ACR. JPMorgan Chase & Co. increased its position in ACRES Commercial Realty by 177.8% during the third quarter. JPMorgan Chase & Co. now owns 8,082 shares of the company’s stock valued at $171,000 after acquiring an additional 5,173 shares during the last quarter. Raymond James Financial Inc. grew its stake in shares of ACRES Commercial Realty by 2.5% during the 3rd quarter. Raymond James Financial Inc. now owns 80,129 shares of the company’s stock valued at $1,696,000 after purchasing an additional 1,979 shares during the period. Oaktree Capital Management LP purchased a new stake in shares of ACRES Commercial Realty during the 3rd quarter valued at about $8,282,000. BNP Paribas Financial Markets lifted its stake 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 worth $29,000 after purchasing an additional 739 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of ACRES Commercial Realty by 68.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 8,835 shares of the company’s stock worth $186,000 after purchasing an additional 3,587 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., 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.