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

ACRES Commercial Realty (NYSE:ACR) had its target price boosted by analysts at JMP Securities from $16.50 to $17.50 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ price objective suggests a potential upside of 10.76% from the company’s previous close.

ACRES Commercial Realty Price Performance

ACRES Commercial Realty stock opened at $15.80 on Wednesday. ACRES Commercial Realty has a 52 week low of $6.62 and a 52 week high of $16.13. The company has a debt-to-equity ratio of 3.56, a quick ratio of 100.49 and a current ratio of 100.49. The stock has a market capitalization of $124.35 million, a P/E ratio of 22.57 and a beta of 2.05. The stock has a fifty day moving average of $15.19 and a 200-day moving average of $13.90.

Insider Activity at ACRES Commercial Realty

In related news, major shareholder Eagle Point Credit Management sold 5,159 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $25.22, for a total value of $130,109.98. Following the completion of the sale, the insider now directly owns 524,357 shares of the company’s stock, valued at approximately $13,224,283.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 125,529 shares of company stock worth $3,094,380 in the last quarter. Company insiders own 4.07% of the company’s stock.

Hedge Funds Weigh In On ACRES Commercial Realty

A number of large investors have recently made changes to their positions in ACR. Biltmore Family Office LLC bought a new stake in ACRES Commercial Realty during the second quarter valued at approximately $160,000. Janney Montgomery Scott LLC purchased a new position in ACRES Commercial Realty during the first quarter valued at $172,000. Ritholtz Wealth Management increased its stake in shares of ACRES Commercial Realty by 17.0% during the second quarter. Ritholtz Wealth Management now owns 20,944 shares of the company’s stock valued at $267,000 after purchasing an additional 3,043 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new position in ACRES Commercial Realty during the first quarter valued at $580,000. Finally, Acadian Asset Management LLC grew its position 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 valued at $1,480,000 after purchasing an additional 16,986 shares during the last quarter. 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.