ACRES Commercial Realty (NYSE:ACR) Shares Down 1.2% – Here’s Why

by · The Cerbat Gem

Shares of ACRES Commercial Realty Corp. (NYSE:ACR – Get Free Report) were down 1.2% during mid-day trading on Monday . The stock traded as low as $13.37 and last traded at $13.3950. Approximately 25,961 shares changed hands during mid-day trading, a decline of 8% from the average daily volume of 28,363 shares. The stock had previously closed at $13.56.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ACR. Weiss Ratings cut ACRES Commercial Realty from a “hold (c)” rating to a “sell (d+)” rating in a report on Tuesday, August 4th. Zacks Research upgraded 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 cut shares of ACRES Commercial Realty from a “hold” rating to a “sell” rating in a research report on Sunday, July 5th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $24.50.

View Our Latest Analysis on ACRES Commercial Realty

ACRES Commercial Realty Trading Down 1.2%

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 company has a market cap of $95.51 million, a PE ratio of -11.96 and a beta of 1.06. The company has a fifty day simple moving average of $15.64 and a two-hundred day simple moving average of $17.97.

ACRES Commercial Realty (NYSE:ACR – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.92). ACRES Commercial Realty had a net margin of 22.62% and a return on equity of 2.42%. The company had revenue of $20.98 million during the quarter, compared to analysts’ expectations of $20.32 million. Analysts anticipate that ACRES Commercial Realty Corp. will post 0.15 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Eagle Point Credit Management sold 2,212 shares of ACRES Commercial Realty stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $21.80, for a total value of $48,221.60. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 6,973 shares of company stock valued at $153,435 over the last 90 days. 4.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On ACRES Commercial Realty

Large investors have recently modified their holdings of the company. California State Teachers Retirement System acquired a new position in shares of ACRES Commercial Realty during the second quarter worth $25,000. Bank of New York Mellon Corp purchased a new position in ACRES Commercial Realty in the second quarter valued at $256,000. Janney Montgomery Scott LLC raised its stake in ACRES Commercial Realty by 2.3% in the first quarter. Janney Montgomery Scott LLC now owns 46,278 shares of the company’s stock valued at $894,000 after buying an additional 1,019 shares in the last quarter. Finally, GM Advisory Group LLC acquired a new stake in ACRES Commercial Realty in the first quarter valued at $223,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

ACRES Commercial Realty Company Profile

(Get Free Report)

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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