JMP Securities Increases ACRES Commercial Realty (NYSE:ACR) Price Target to $17.50

ACRES Commercial Realty (NYSE:ACR) had its price target increased by stock analysts at JMP Securities from $16.50 to $17.50 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price target indicates a potential upside of 12.11% from the stock’s previous close.

ACRES Commercial Realty Price Performance

ACRES Commercial Realty stock opened at $15.61 on Wednesday. The company has a debt-to-equity ratio of 3.56, a quick ratio of 100.49 and a current ratio of 100.49. ACRES Commercial Realty has a 52 week low of $6.62 and a 52 week high of $16.13. The stock has a market capitalization of $122.85 million, a P/E ratio of 22.30 and a beta of 2.05. The stock has a fifty day moving average of $15.27 and a 200-day moving average of $13.93.

Insider Activity at ACRES Commercial Realty

In related news, major shareholder Eagle Point Credit Management sold 1,210 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $24.80, for a total value of $30,008.00. Following the completion of the transaction, the insider now owns 651,309 shares of the company’s stock, valued at approximately $16,152,463.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last three months, insiders have sold 107,065 shares of company stock valued at $2,632,780. 4.07% of the stock is owned by insiders.

Hedge Funds Weigh In On ACRES Commercial Realty

Several large investors have recently bought and sold shares of ACR. O Shaughnessy Asset Management LLC bought a new position in ACRES Commercial Realty during the 1st quarter worth $580,000. Janney Montgomery Scott LLC acquired a new stake in ACRES Commercial Realty during the 1st quarter valued at approximately $172,000. Acadian Asset Management LLC raised its holdings in ACRES Commercial Realty by 19.2% during the 1st quarter. Acadian Asset Management LLC now owns 105,420 shares of the company’s stock worth $1,480,000 after purchasing an additional 16,986 shares during the last quarter. Ritholtz Wealth Management lifted its position in shares of ACRES Commercial Realty by 17.0% in the 2nd quarter. Ritholtz Wealth Management now owns 20,944 shares of the company’s stock worth $267,000 after purchasing an additional 3,043 shares during the period. Finally, Biltmore Family Office LLC bought a new stake in shares of ACRES Commercial Realty in the 2nd quarter valued at $160,000. 40.03% of the stock is currently owned by institutional investors.

ACRES Commercial Realty Company Profile

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.