Jones Trading Reaffirms “Hold” Rating for ACRES Commercial Realty (NYSE:ACR)

ACRES Commercial Realty (NYSE:ACR)‘s stock had its “hold” rating restated by investment analysts at Jones Trading in a research report issued to clients and investors on Thursday,Benzinga reports.

Separately, JMP Securities raised their target price on ACRES Commercial Realty to $22.00 and gave the company a “buy” rating in a research note on Friday, March 7th.

ACRES Commercial Realty Price Performance

Shares of ACR stock opened at $22.06 on Thursday. ACRES Commercial Realty has a twelve month low of $11.02 and a twelve month high of $22.40. The company has a market capitalization of $170.64 million, a PE ratio of 26.26 and a beta of 2.12. The company has a current ratio of 73.84, a quick ratio of 73.84 and a debt-to-equity ratio of 3.33. The firm has a fifty day simple moving average of $18.76 and a 200-day simple moving average of $16.97.

Insider Buying and Selling

In related news, major shareholder Eagle Point Credit Management sold 6,816 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $24.77, for a total value of $168,832.32. Following the completion of the sale, the insider now directly owns 434,574 shares of the company’s stock, valued at $10,764,397.98. The trade was a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 22,386 shares of company stock worth $539,844. Insiders own 4.07% of the company’s stock.

Institutional Investors Weigh In On ACRES Commercial Realty

Institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC raised its holdings in shares of ACRES Commercial Realty by 147.1% during the third quarter. Barclays PLC now owns 3,499 shares of the company’s stock worth $55,000 after purchasing an additional 2,083 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in ACRES Commercial Realty in the 3rd quarter valued at about $177,000. Biltmore Family Office LLC increased its stake in ACRES Commercial Realty by 24.8% in the 3rd quarter. Biltmore Family Office LLC now owns 15,600 shares of the company’s stock worth $244,000 after purchasing an additional 3,100 shares in the last quarter. Nokomis Capital L.L.C. lifted its holdings in shares of ACRES Commercial Realty by 1.1% in the fourth quarter. Nokomis Capital L.L.C. now owns 264,597 shares of the company’s stock valued at $4,273,000 after purchasing an additional 2,889 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in ACRES Commercial Realty during the fourth quarter valued at $829,000. 40.03% of the stock is owned by institutional investors and hedge funds.

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.