JMP Securities Raises ACRES Commercial Realty (NYSE:ACR) Price Target to $22.00

ACRES Commercial Realty (NYSE:ACR) had its price objective upped by stock analysts at JMP Securities to $22.00 in a research note issued to investors on Friday, Stock Target Advisor reports. The brokerage presently has a “buy” rating on the stock. JMP Securities’ price objective points to a potential upside of 5.57% from the stock’s previous close.

ACRES Commercial Realty Stock Performance

Shares of NYSE ACR traded up $0.08 during trading hours on Friday, reaching $20.84. The stock had a trading volume of 2,181 shares, compared to its average volume of 26,338. The business’s fifty day moving average is $18.31 and its two-hundred day moving average is $16.79. ACRES Commercial Realty has a twelve month low of $10.54 and a twelve month high of $21.17. The company has a market cap of $161.24 million, a price-to-earnings ratio of 24.81 and a beta of 2.12. The company has a debt-to-equity ratio of 3.33, a current ratio of 73.84 and a quick ratio of 73.84.

Insider Activity at ACRES Commercial Realty

In other news, major shareholder Eagle Point Credit Management sold 7,335 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $22.40, for a total transaction of $164,304.00. Following the sale, the insider now owns 889,031 shares of the company’s stock, valued at $19,914,294.40. This trade represents a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 27,277 shares of company stock worth $660,846 over the last 90 days. Insiders own 4.07% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Barclays PLC grew 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 buying an additional 2,083 shares in the last quarter. Sei Investments Co. bought a new position in shares of ACRES Commercial Realty during the fourth quarter worth about $162,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in ACRES Commercial Realty in the third quarter valued at approximately $177,000. Jane Street Group LLC bought a new position in ACRES Commercial Realty in the fourth quarter valued at approximately $213,000. Finally, Biltmore Family Office LLC grew its stake 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 valued at $244,000 after purchasing an additional 3,100 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

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.