ACRES Commercial Realty (NYSE:ACR) Stock Rating Lowered by Wall Street Zen

ACRES Commercial Realty (NYSE:ACR) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

ACR has been the subject of several other reports. Citizens Jmp raised their price target on ACRES Commercial Realty from $23.50 to $24.50 and gave the company a “market outperform” rating in a report on Friday, October 31st. JMP Securities set a $24.50 price objective on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Citigroup reaffirmed an “outperform” rating on shares of ACRES Commercial Realty in a report on Friday, October 31st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ACRES Commercial Realty in a research note on Monday. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $24.50.

ACRES Commercial Realty Stock Performance

ACRES Commercial Realty stock opened at $23.62 on Friday. The stock’s 50 day moving average is $21.39 and its 200 day moving average is $20.11. The company has a market capitalization of $172.19 million, a P/E ratio of 24.60 and a beta of 1.21. ACRES Commercial Realty has a twelve month low of $15.35 and a twelve month high of $24.61. The company has a quick ratio of 104.99, a current ratio of 104.99 and a debt-to-equity ratio of 2.73.

ACRES Commercial Realty declared that its board has authorized a stock repurchase plan on Wednesday, October 29th that authorizes the company to buyback $7.50 million in shares. This buyback authorization authorizes the company to repurchase up to 5.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at ACRES Commercial Realty

In other ACRES Commercial Realty news, major shareholder Eagle Point Credit Management sold 1,372 shares of the stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $22.26, for a total value of $30,540.72. Following the transaction, the insider owned 761,345 shares of the company’s stock, valued at approximately $16,947,539.70. This represents a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 25,000 shares of company stock valued at $592,566 in the last 90 days. Company insiders own 3.92% of the company’s stock.

Hedge Funds Weigh In On ACRES Commercial Realty

Institutional investors and hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC grew its position in ACRES Commercial Realty by 16.8% during the second quarter. Acadian Asset Management LLC now owns 182,679 shares of the company’s stock valued at $3,272,000 after buying an additional 26,226 shares during the period. Goldman Sachs Group Inc. purchased a new position in shares of ACRES Commercial Realty during the 1st quarter worth $488,000. Gratia Capital LLC grew its position in shares of ACRES Commercial Realty by 64.3% during the 2nd quarter. Gratia Capital LLC now owns 125,994 shares of the company’s stock valued at $2,260,000 after acquiring an additional 49,312 shares during the period. Ritholtz Wealth Management increased its stake in shares of ACRES Commercial Realty by 12.0% in the 2nd quarter. Ritholtz Wealth Management now owns 33,889 shares of the company’s stock worth $608,000 after purchasing an additional 3,618 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new position in ACRES Commercial Realty in the 2nd quarter worth $93,000. 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.