Brokerages Set ACRES Commercial Realty Corp. (NYSE:ACR) Target Price at $24.50

Shares of ACRES Commercial Realty Corp. (NYSE:ACR) have been assigned an average rating of “Hold” from the five brokerages that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $24.50.

A number of equities analysts recently issued reports on ACR shares. Wall Street Zen lowered ACRES Commercial Realty from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ACRES Commercial Realty in a research note on Monday, December 29th. Finally, Zacks Research raised ACRES Commercial Realty to a “hold” rating in a research note on Friday, December 19th.

Insiders Place Their Bets

In related news, major shareholder Eagle Point Credit Management sold 3,142 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $21.80, for a total value of $68,495.60. Following the completion of the transaction, the insider owned 741,977 shares in the company, valued at $16,175,098.60. This represents a 0.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 53,814 shares of company stock valued at $1,284,332 over the last three months. Corporate insiders own 3.92% of the company’s stock.

Institutional Trading of ACRES Commercial Realty

A number of hedge funds and other institutional investors have recently made changes to their positions in ACR. 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 acquiring an additional 739 shares during the period. JPMorgan Chase & Co. acquired a new position in shares of ACRES Commercial Realty during the 2nd quarter valued at $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of ACRES Commercial Realty in the 2nd quarter worth $60,000. Bank of America Corp DE raised its stake in shares of ACRES Commercial Realty by 110.4% in the 2nd quarter. Bank of America Corp DE now owns 3,671 shares of the company’s stock worth $66,000 after buying an additional 1,926 shares in the last quarter. Finally, MetLife Investment Management LLC acquired a new stake in shares of ACRES Commercial Realty in the fourth quarter valued at $76,000. 40.03% of the stock is currently owned by institutional investors.

ACRES Commercial Realty Trading Down 0.9%

NYSE ACR opened at $19.01 on Thursday. The company has a debt-to-equity ratio of 2.73, a current ratio of 104.99 and a quick ratio of 104.99. The company has a 50-day moving average of $19.50 and a 200-day moving average of $20.63. The company has a market cap of $138.58 million, a P/E ratio of 1,902.90 and a beta of 1.19. ACRES Commercial Realty has a 12 month low of $16.51 and a 12 month high of $24.61.

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.