ACRES Commercial Realty's (ACR) "Hold (C-)" Rating Reaffirmed at Weiss Ratings

Key Points

• ACRES Commercial Realty's stock rating was reaffirmed as a "Hold (C-)" by Weiss Ratings, indicating a neutral stance on the company's performance.
• JMP Securities increased their price target for ACRES from $22.00 to $23.50, marking a positive outlook with a "market outperform" rating.
• Recent insider activity saw major shareholder Eagle Point Credit Management sell 15,084 shares at an average price of $22.30, resulting in a 1.81% decrease in their position.

ACRES Commercial Realty (NYSE:ACR - Get Free Report)'s stock had its "hold (c-)" rating restated by stock analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Separately, JMP Securities lifted their price target on shares of ACRES Commercial Realty from $22.00 to $23.50 and gave the company a "market outperform" rating in a report on Thursday, September 11th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $23.50.

ACRES Commercial Realty Stock Performance

Shares of NYSE ACR traded up $0.28 during midday trading on Wednesday, hitting $20.75. The company's stock had a trading volume of 2,073 shares, compared to its average volume of 35,297. ACRES Commercial Realty has a 1-year low of $14.87 and a 1-year high of $23.81. The firm's fifty day moving average price is $20.54 and its 200-day moving average price is $19.18. The company has a debt-to-equity ratio of 3.01, a quick ratio of 69.53 and a current ratio of 69.53. The firm has a market cap of $154.14 million, a P/E ratio of -1,036.48 and a beta of 1.80.

Insider Transactions at ACRES Commercial Realty

In other ACRES Commercial Realty news, major shareholder Eagle Point Credit Management sold 15,084 shares of the business's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $22.30, for a total transaction of $336,373.20. Following the completion of the transaction, the insider directly owned 819,809 shares of the company's stock, valued at $18,281,740.70. The trade was a 1.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 79,355 shares of company stock worth $1,777,305. Insiders own 3.92% of the company's stock.

Institutional Trading of ACRES Commercial Realty

A number of institutional investors have recently made changes to their positions in ACR. JPMorgan Chase & Co. acquired a new stake in shares of ACRES Commercial Realty in the 2nd quarter worth approximately $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of ACRES Commercial Realty in the 2nd quarter worth approximately $60,000. 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 worth $66,000 after acquiring an additional 1,926 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of ACRES Commercial Realty in the 2nd quarter worth approximately $93,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of ACRES Commercial Realty in the 2nd quarter worth approximately $106,000. 40.03% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.