ACRES Commercial Realty (NYSE:ACR) Price Target Raised to $23.50 at JMP Securities

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 price objective raised by investment analysts at JMP Securities from $22.00 to $23.50 in a report issued on Thursday,Benzinga reports. The firm currently has a "market outperform" rating on the stock. JMP Securities' target price indicates a potential upside of 11.72% from the stock's current price.

ACRES Commercial Realty Stock Performance

ACRES Commercial Realty stock opened at $21.03 on Thursday. The company has a current ratio of 69.53, a quick ratio of 69.53 and a debt-to-equity ratio of 3.01. ACRES Commercial Realty has a 1 year low of $14.87 and a 1 year high of $23.81. The company has a market cap of $156.28 million, a PE ratio of -1,051.17 and a beta of 1.82. The company's 50-day moving average is $19.50 and its two-hundred day moving average is $19.28.

Insider Activity at ACRES Commercial Realty

In other news, major shareholder Eagle Point Credit Management sold 2,188 shares of the company's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $22.43, for a total value of $49,076.84. Following the completion of the sale, the insider directly owned 791,797 shares of the company's stock, valued at $17,760,006.71. This represents a 0.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 67,728 shares of company stock valued at $1,511,734. Corporate insiders own 3.92% of the company's stock.

Institutional Trading of ACRES Commercial Realty

A number of institutional investors and hedge funds have recently modified their holdings of ACR. JPMorgan Chase & Co. bought a new stake in ACRES Commercial Realty during the 2nd quarter worth approximately $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in ACRES Commercial Realty during the 2nd quarter worth approximately $60,000. Bank of America Corp DE increased its stake in ACRES Commercial Realty by 110.4% during the 2nd quarter. Bank of America Corp DE now owns 3,671 shares of the company's stock worth $66,000 after purchasing an additional 1,926 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in ACRES Commercial Realty during the 2nd quarter worth approximately $93,000. Finally, New York State Common Retirement Fund bought a new stake in ACRES Commercial Realty during the 2nd quarter worth approximately $106,000. 40.03% of the stock is 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.

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