ACRES Commercial Realty (NYSE:ACR) Price Target Raised to $22.00

ACRES Commercial Realty (NYSE:ACR - Free Report) had its price target boosted by JMP Securities to $22.00 in a research report sent to investors on Friday,Stock Target Advisor reports. They currently have a buy rating on the stock.

ACRES Commercial Realty Stock Up 0.4 %

Shares of ACRES Commercial Realty stock traded up $0.10 during trading hours on Friday, reaching $21.85. The company's stock had a trading volume of 110,275 shares, compared to its average volume of 20,624. ACRES Commercial Realty has a one year low of $11.00 and a one year high of $22.33. The company has a market capitalization of $169.03 million, a P/E ratio of 26.01 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 stock's fifty day simple moving average is $18.52 and its two-hundred day simple moving average is $16.89.

Insider Transactions at ACRES Commercial Realty

In other news, major shareholder Eagle Point Credit Management sold 7,335 shares of the company's stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $22.40, for a total value of $164,304.00. Following the completion of the transaction, the insider now directly owns 889,031 shares of the company's stock, valued at $19,914,294.40. This represents a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 26,036 shares of company stock worth $629,597 in the last quarter. 4.07% of the stock is currently owned by corporate insiders.

Remove Ads

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of ACRES Commercial Realty during the 3rd quarter worth $177,000. Biltmore Family Office LLC raised its position in ACRES Commercial Realty by 24.8% in the third quarter. Biltmore Family Office LLC now owns 15,600 shares of the company's stock worth $244,000 after acquiring an additional 3,100 shares during the period. Barclays PLC raised its position in ACRES Commercial Realty by 147.1% in the third quarter. Barclays PLC now owns 3,499 shares of the company's stock worth $55,000 after acquiring an additional 2,083 shares during the period. Bank of New York Mellon Corp purchased a new position in ACRES Commercial Realty in the fourth quarter valued at about $412,000. Finally, Raymond James Financial Inc. bought a new position in shares of ACRES Commercial Realty during the 4th quarter valued at approximately $829,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

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.