ACRES Commercial Realty (NYSE:ACR - Get Free Report) announced its earnings results on Wednesday. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.15, Zacks reports. ACRES Commercial Realty had a return on equity of 5.43% and a net margin of 25.71%. The company had revenue of $22.30 million for the quarter, compared to analyst estimates of $22.75 million. During the same period in the previous year, the firm earned $0.55 earnings per share.
ACRES Commercial Realty Stock Up 1.8 %
Shares of ACR stock traded up $0.38 during trading on Friday, hitting $21.14. 46,669 shares of the company were exchanged, compared to its average volume of 27,390. The firm has a market capitalization of $163.55 million, a price-to-earnings ratio of 25.17 and a beta of 2.12. The company has a debt-to-equity ratio of 3.33, a quick ratio of 73.84 and a current ratio of 73.84. The business's 50-day simple moving average is $18.41 and its 200 day simple moving average is $16.84. ACRES Commercial Realty has a twelve month low of $10.54 and a twelve month high of $21.25.
Wall Street Analysts Forecast Growth
Separately, JMP Securities boosted their price objective on ACRES Commercial Realty to $22.00 and gave the stock a "buy" rating in a report on Friday.
Read Our Latest Stock Analysis on ACR
Insider Buying and Selling at ACRES Commercial Realty
In related news, major shareholder Eagle Point Credit Management sold 1,241 shares of the company's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.18, for a total value of $31,248.38. Following the completion of the sale, the insider now directly owns 453,215 shares in the company, valued at approximately $11,411,953.70. This represents a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold 27,277 shares of company stock valued at $660,846 in the last quarter. Company insiders own 4.07% of the company's stock.
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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