ACRES Commercial Realty (NYSE:ACR) Stock Price Down 5.9% - Here's Why

Key Points

• ACRES Commercial Realty's stock price decreased by 5.9% to around $19.09, with a significant volume increase of 114% compared to average trading sessions.
• Market analysts have mixed ratings, with the average target price set at $23.50 and a general rating of "Hold."
• Major shareholders, including Eagle Point Credit Management, have recently sold shares, indicating some insider profit-taking.

Shares of ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) traded down 5.9% during mid-day trading on Friday . The stock traded as low as $18.99 and last traded at $19.09. 41,026 shares changed hands during mid-day trading, an increase of 114% from the average session volume of 19,204 shares. The stock had previously closed at $20.29.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Weiss Ratings reiterated a "hold (c-)" rating on shares of ACRES Commercial Realty in a research note on Wednesday, October 8th. JMP Securities boosted their price target on ACRES Commercial Realty from $22.00 to $23.50 and gave the company a "market outperform" rating in a research note on Thursday, September 11th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, ACRES Commercial Realty has an average rating of "Hold" and an average target price of $23.50.

ACRES Commercial Realty Stock Down 5.9%

The firm has a 50 day simple moving average of $20.67 and a two-hundred day simple moving average of $19.13. The company has a quick ratio of 69.53, a current ratio of 69.53 and a debt-to-equity ratio of 3.01. The stock has a market capitalization of $141.82 million, a P/E ratio of -953.92 and a beta of 1.80.

Insiders Place Their Bets

In other news, major shareholder Eagle Point Credit Management sold 2,500 shares of the stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $22.68, for a total value of $56,700.00. Following the completion of the transaction, the insider directly owned 771,484 shares in the company, valued at approximately $17,497,257.12. This represents a 0.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 72,996 shares of company stock worth $1,636,078 in the last three months. 3.92% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Biltmore Family Office LLC lifted its stake in shares of ACRES Commercial Realty by 6.6% in the 1st quarter. Biltmore Family Office LLC now owns 23,552 shares of the company's stock valued at $510,000 after acquiring an additional 1,448 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of ACRES Commercial Realty by 1.2% in the 1st quarter. Acadian Asset Management LLC now owns 156,453 shares of the company's stock valued at $3,386,000 after acquiring an additional 1,851 shares during the last quarter. Bank of America Corp DE lifted 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 valued at $66,000 after acquiring an additional 1,926 shares during the last quarter. Sei Investments Co. lifted its stake in shares of ACRES Commercial Realty by 22.5% in the 2nd quarter. Sei Investments Co. now owns 12,314 shares of the company's stock valued at $221,000 after acquiring an additional 2,263 shares during the last quarter. Finally, JPMorgan Chase & Co. bought a new position in shares of ACRES Commercial Realty in the 2nd quarter valued at $52,000. 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.

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