ACRES Commercial Realty (NYSE:ACR) Stock Jumps 0.9% - Here's Why

Key Points

• ACRES Commercial Realty shares rose 0.9% to about $10.55 in mid-day trading, on volume slightly above its average.
• Analyst sentiment remains mixed but averages to a “Hold” rating, with a consensus price target of $24.50; recent firms moved ratings between “sell” and “hold.”
• The company reported a quarterly EPS loss of $0.74, missing estimates of $0.18, although revenue of $20.98 million exceeded analyst expectations.

ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) shares shot up 0.9% during mid-day trading on Monday. The company traded as high as $10.61 and last traded at $10.5480. 59,417 shares were traded during trading, an increase of 4% from the average daily volume of 57,291 shares. The stock had previously closed at $10.45.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ACR. Weiss Ratings downgraded shares of ACRES Commercial Realty from a "sell (d+)" rating to a "sell (d)" rating in a research report on Monday, September 14th. Zacks Research raised shares of ACRES Commercial Realty from a "strong sell" rating to a "hold" rating in a research note on Monday, August 17th. Finally, Wall Street Zen lowered ACRES Commercial Realty from a "hold" rating to a "sell" rating in a report on Sunday, July 5th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, ACRES Commercial Realty currently has an average rating of "Hold" and an average target price of $24.50.

ACRES Commercial Realty Stock Up 0.9%

The company has a current ratio of 108.63, a quick ratio of 108.63 and a debt-to-equity ratio of 3.24. The firm has a 50 day moving average price of $13.17 and a 200-day moving average price of $16.91. The firm has a market cap of $75.21 million, a price-to-earnings ratio of -9.42 and a beta of 1.10.

ACRES Commercial Realty (NYSE:ACR - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported ($0.74) EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.92). The company had revenue of $20.98 million for the quarter, compared to analyst estimates of $20.32 million. ACRES Commercial Realty had a net margin of 22.62% and a return on equity of 2.42%. On average, equities analysts forecast that ACRES Commercial Realty Corp. will post 0.15 EPS for the current year.

Insider Transactions at ACRES Commercial Realty

In other ACRES Commercial Realty news, major shareholder Eagle Point Credit Management sold 2,212 shares of the business's stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $21.80, for a total transaction of $48,221.60. Following the transaction, the insider owned 716,679 shares in the company, valued at $15,623,602.20. The trade was a 0.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 4,897 shares of company stock worth $106,725 over the last ninety days. 4.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ACRES Commercial Realty

Institutional investors and hedge funds have recently made changes to their positions in the business. GM Advisory Group LLC acquired a new stake in ACRES Commercial Realty during the first quarter valued at approximately $223,000. Bank of New York Mellon Corp acquired a new position in ACRES Commercial Realty in the second quarter valued at approximately $256,000. Finally, Janney Montgomery Scott LLC raised its position in shares of ACRES Commercial Realty by 2.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 46,278 shares of the company's stock worth $894,000 after purchasing an additional 1,019 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

About ACRES Commercial Realty

ACRES Commercial Realty Corp. NYSE: ACR is a real estate investment trust focused on commercial real estate finance. The company primarily invests in and originates commercial real estate mortgage loans and other debt-related investments secured by properties in the United States.

Its portfolio may include loans backed by multifamily, office, industrial, retail, hospitality and other commercial properties. Through its lending and investment activities, ACRES provides financing to property owners and developers, with an emphasis on transitional and other commercial real estate opportunities.

The company was formerly known as Exantas Capital Corp.

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