ACRES Commercial Realty (NYSE:ACR) Releases Earnings Results

ACRES Commercial Realty (NYSE:ACR) announced its earnings results on Wednesday. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.42), FiscalAI reports. The company had revenue of $20.03 million for the quarter, compared to analyst estimates of $20.58 million. ACRES Commercial Realty had a return on equity of 4.74% and a net margin of 35.16%.

ACRES Commercial Realty Trading Up 0.5%

Shares of ACR stock traded up $0.09 during trading hours on Wednesday, reaching $18.86. The company had a trading volume of 13,113 shares, compared to its average volume of 22,162. ACRES Commercial Realty has a 1-year low of $16.51 and a 1-year high of $24.61. The company has a debt-to-equity ratio of 2.73, a current ratio of 104.99 and a quick ratio of 104.99. The firm has a market cap of $137.49 million, a price-to-earnings ratio of 19.65 and a beta of 1.19. The company has a 50 day moving average of $19.68 and a 200 day moving average of $20.65.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ACR. Zacks Research raised ACRES Commercial Realty to a “hold” rating in a report on Friday, December 19th. Weiss Ratings restated a “hold (c)” rating on shares of ACRES Commercial Realty in a research report on Monday, December 29th. Finally, Wall Street Zen cut ACRES Commercial Realty from a “hold” rating to a “sell” rating in a report on Saturday. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $24.50.

Insider Buying and Selling

In other ACRES Commercial Realty news, major shareholder Eagle Point Credit Management sold 1,301 shares of the stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $25.28, for a total value of $32,889.28. Following the transaction, the insider owned 351,347 shares of the company’s stock, valued at approximately $8,882,052.16. This represents a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 48,679 shares of company stock valued at $1,168,012 in the last ninety days. Corporate insiders own 3.92% of the company’s stock.

Institutional Trading of ACRES Commercial Realty

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in ACRES Commercial Realty by 3.1% in the third quarter. Vanguard Group Inc. now owns 383,696 shares of the company’s stock valued at $8,119,000 after purchasing an additional 11,465 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of ACRES Commercial Realty by 177.8% during the third quarter. JPMorgan Chase & Co. now owns 8,082 shares of the company’s stock worth $171,000 after purchasing an additional 5,173 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of ACRES Commercial Realty by 110.4% in the 2nd quarter. Bank of America Corp DE now owns 3,671 shares of the company’s stock valued at $66,000 after buying an additional 1,926 shares during the period. Raymond James Financial Inc. increased its position in shares of ACRES Commercial Realty by 60.6% in the 2nd quarter. Raymond James Financial Inc. now owns 78,150 shares of the company’s stock valued at $1,402,000 after buying an additional 29,503 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in ACRES Commercial Realty during the 2nd quarter worth $60,000. 40.03% of the stock is 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.