ACRES Commercial Realty (NYSE:ACR) Releases Quarterly Earnings Results, Misses Expectations By $2.44 EPS

ACRES Commercial Realty (NYSE:ACR) posted its earnings results on Wednesday. The company reported ($2.26) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($2.44), Zacks reports. ACRES Commercial Realty had a return on equity of 5.61% and a net margin of 37.20%.

ACRES Commercial Realty Stock Up 1.6%

ACRES Commercial Realty stock traded up $0.29 on Wednesday, hitting $18.40. 38,447 shares of the stock traded hands, compared to its average volume of 25,371. 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 firm has a market cap of $131.21 million, a P/E ratio of 28.31 and a beta of 1.09. The business’s fifty day simple moving average is $18.15 and its 200 day simple moving average is $19.08. ACRES Commercial Realty has a 1 year low of $15.61 and a 1 year high of $24.61.

Insider Activity at ACRES Commercial Realty

In other news, major shareholder Eagle Point Credit Management sold 2,076 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $22.50, for a total value of $46,710.00. Following the sale, the insider directly owned 731,230 shares of the company’s stock, valued at $16,452,675. This represents a 0.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 17,280 shares of company stock worth $420,153. Insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Eagle Point Credit Management LLC bought a new stake in ACRES Commercial Realty during the fourth quarter worth about $25,118,000. Vanguard Group Inc. increased its stake in shares of ACRES Commercial Realty by 3.1% during 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. Geode Capital Management LLC increased its stake in shares of ACRES Commercial Realty by 125.1% during the second quarter. Geode Capital Management LLC now owns 137,996 shares of the company’s stock valued at $2,476,000 after purchasing an additional 76,688 shares in the last quarter. State Street Corp lifted its holdings in shares of ACRES Commercial Realty by 8.5% during the fourth quarter. State Street Corp now owns 86,053 shares of the company’s stock valued at $1,836,000 after purchasing an additional 6,713 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its holdings in shares of ACRES Commercial Realty by 2.5% during the third quarter. Raymond James Financial Inc. now owns 80,129 shares of the company’s stock valued at $1,696,000 after purchasing an additional 1,979 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.