ACRES Commercial Realty (NYSE:ACR) Announces Earnings Results

ACRES Commercial Realty (NYSE:ACR) issued its quarterly earnings results on Wednesday. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.25), Zacks reports. The business had revenue of $18.77 million for the quarter, compared to analysts’ expectations of $13.00 million. ACRES Commercial Realty had a return on equity of 8.41% and a net margin of 24.57%. During the same quarter last year, the company earned $0.42 earnings per share.

ACRES Commercial Realty Stock Down 2.0 %

Shares of ACR stock traded down $0.27 during trading hours on Thursday, reaching $13.23. 10,937 shares of the stock were exchanged, compared to its average volume of 28,886. The business’s fifty day moving average is $12.71 and its two-hundred day moving average is $10.20. The company has a debt-to-equity ratio of 3.76, a current ratio of 84.01 and a quick ratio of 84.01. ACRES Commercial Realty has a 12-month low of $6.62 and a 12-month high of $14.35. The firm has a market capitalization of $101.47 million, a P/E ratio of 37.80 and a beta of 1.99.

Wall Street Analysts Forecast Growth

Separately, JMP Securities boosted their price target on shares of ACRES Commercial Realty from $14.00 to $15.50 and gave the stock a “market outperform” rating in a research note on Tuesday.

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.