JMP Securities Issues Positive Forecast for ACRES Commercial Realty (NYSE:ACR) Stock Price

Key Points

• JMP Securities raised ACRES Commercial Realty's price target from $22.00 to $23.50, suggesting an 11.72% potential upside based on the stock's current price.
• The stock opened at $21.03 and has seen a one-year trading range with a low of $14.87 and a high of $23.81.
• Insider transactions indicate a 0.28% decrease in major shareholder Eagle Point Credit Management's position after selling 2,188 shares for approximately $49,077.

ACRES Commercial Realty (NYSE:ACR - Get Free Report) had its target price increased by JMP Securities from $22.00 to $23.50 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a "market outperform" rating on the stock. JMP Securities' price objective points to a potential upside of 12.33% from the stock's previous close.

ACRES Commercial Realty Stock Performance

ACR traded up $0.09 on Thursday, hitting $20.92. The company had a trading volume of 7,574 shares, compared to its average volume of 36,572. The company's fifty day moving average price is $19.67 and its 200 day moving average price is $19.28. ACRES Commercial Realty has a 1-year low of $14.87 and a 1-year high of $23.81. The company has a debt-to-equity ratio of 3.01, a current ratio of 69.53 and a quick ratio of 69.53. The stock has a market cap of $155.44 million, a price-to-earnings ratio of -1,045.48 and a beta of 1.82.

Insider Buying and Selling

In related news, major shareholder Eagle Point Credit Management sold 15,084 shares of the company's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $22.30, for a total value of $336,373.20. Following the completion of the transaction, the insider directly owned 819,809 shares in the company, valued at approximately $18,281,740.70. This represents a 1.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 66,434 shares of company stock valued at $1,483,989. Insiders own 3.92% of the company's stock.

Institutional Trading of ACRES Commercial Realty

A number of large investors have recently bought and sold shares of ACR. JPMorgan Chase & Co. bought a new stake in ACRES Commercial Realty in the second quarter valued at $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in ACRES Commercial Realty in the second quarter valued at $60,000. Bank of America Corp DE grew its position in ACRES Commercial Realty by 110.4% in the second quarter. Bank of America Corp DE now owns 3,671 shares of the company's stock valued at $66,000 after acquiring an additional 1,926 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of ACRES Commercial Realty during the second quarter worth $93,000. Finally, New York State Common Retirement Fund bought a new stake in shares of ACRES Commercial Realty during the second quarter worth $106,000. 40.03% of the stock is currently owned by 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.