ACRES Commercial Realty (NYSE:ACR) Posts Quarterly Earnings Results, Misses Expectations By $0.42 EPS

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

ACRES Commercial Realty Price Performance

NYSE ACR traded up $0.09 on Wednesday, reaching $18.86. The company’s stock had a trading volume of 13,113 shares, compared to its average volume of 22,162. ACRES Commercial Realty has a 52 week low of $16.51 and a 52 week high of $24.61. The company has a current ratio of 104.99, a quick ratio of 104.99 and a debt-to-equity ratio of 2.73. The firm has a market cap of $137.49 million, a PE ratio of 19.65 and a beta of 1.19. The business has a 50-day moving average price of $19.68 and a 200 day moving average price of $20.65.

Wall Street Analysts Forecast Growth

ACR has been the topic of several research analyst reports. Wall Street Zen downgraded shares of ACRES Commercial Realty from a “hold” rating to a “sell” rating in a research note on Saturday. Zacks Research upgraded shares of ACRES Commercial Realty to a “hold” rating in a research report on Friday, December 19th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ACRES Commercial Realty in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $24.50.

Insiders Place Their Bets

In related news, major shareholder Eagle Point Credit Management sold 1,301 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $25.28, for a total transaction of $32,889.28. Following the completion of the transaction, the insider owned 351,347 shares in the company, valued at $8,882,052.16. This trade represents a 0.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 48,679 shares of company stock worth $1,168,012 over the last 90 days. 3.92% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada increased its holdings in ACRES Commercial Realty by 524.2% during the 4th quarter. Royal Bank of Canada now owns 5,349 shares of the company’s stock valued at $114,000 after purchasing an additional 4,492 shares in the last quarter. Barclays PLC grew its holdings in shares of ACRES Commercial Realty by 10.8% during the fourth quarter. Barclays PLC now owns 9,610 shares of the company’s stock worth $205,000 after purchasing an additional 939 shares during the last quarter. State Street Corp grew 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 worth $1,836,000 after purchasing an additional 6,713 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of ACRES Commercial Realty by 49.6% in the fourth quarter. Wells Fargo & Company MN now owns 6,883 shares of the company’s stock valued at $147,000 after buying an additional 2,281 shares in the last quarter. Finally, MetLife Investment Management LLC bought a new position in shares of ACRES Commercial Realty in the fourth quarter valued at about $76,000. 40.03% of the stock is owned by institutional investors and hedge funds.

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.