ACRES Commercial Realty (NYSE:ACR) Posts Quarterly Earnings Results, Misses Expectations By $0.92 EPS

ACRES Commercial Realty (NYSE:ACR) announced its earnings results on Wednesday. The company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.92), FiscalAI reports. ACRES Commercial Realty had a net margin of 22.62% and a return on equity of 2.47%. The business had revenue of $20.98 million during the quarter, compared to analyst estimates of $20.32 million.

ACRES Commercial Realty Price Performance

NYSE:ACR traded down $0.40 on Friday, hitting $17.24. The company had a trading volume of 7,153 shares, compared to its average volume of 25,344. ACRES Commercial Realty has a 52 week low of $15.61 and a 52 week high of $24.61. The company has a current ratio of 164.62, a quick ratio of 164.62 and a debt-to-equity ratio of 3.36. The stock has a market capitalization of $122.94 million, a price-to-earnings ratio of -15.42 and a beta of 1.09. The firm has a 50 day moving average of $18.08 and a two-hundred day moving average of $19.04.

Insider Activity at ACRES Commercial Realty

In related news, major shareholder Eagle Point Credit Management sold 5,981 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $24.37, for a total transaction of $145,756.97. Following the sale, the insider owned 339,325 shares of the company’s stock, valued at $8,269,350.25. This trade represents a 1.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 21,087 shares of company stock valued at $503,115. 4.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets grew its stake in shares of ACRES Commercial Realty by 120.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company’s stock worth $29,000 after acquiring an additional 739 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in shares of ACRES Commercial Realty in the second quarter valued at $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of ACRES Commercial Realty in the second quarter worth approximately $60,000. MetLife Investment Management LLC bought a new position in ACRES Commercial Realty in the fourth quarter valued at $76,000. Finally, Bank of America Corp DE boosted 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 worth $66,000 after purchasing an additional 1,926 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on ACR. Wall Street Zen lowered shares of ACRES Commercial Realty from a “hold” rating to a “sell” rating in a report on Sunday, July 5th. Zacks Research cut ACRES Commercial Realty from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Finally, Weiss Ratings raised shares of ACRES Commercial Realty from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $24.50.

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.