ACRES Commercial Realty (NYSE:ACR) Upgraded to “Sell” at Wall Street Zen

Wall Street Zen upgraded shares of ACRES Commercial Realty (NYSE:ACR) from a strong sell rating to a sell rating in a research report sent to investors on Saturday morning.

A number of other equities research analysts have also commented on the stock. Zacks Research upgraded shares of ACRES Commercial Realty to a “hold” rating in a report on Friday, December 19th. Weiss Ratings cut ACRES Commercial Realty from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, ACRES Commercial Realty presently has an average rating of “Hold” and a consensus target price of $24.50.

ACRES Commercial Realty Stock Up 2.8%

ACRES Commercial Realty stock opened at $20.40 on Friday. The company’s 50 day simple moving average is $18.98 and its 200 day simple moving average is $20.26. ACRES Commercial Realty has a fifty-two week low of $16.51 and a fifty-two week high of $24.61. The firm has a market capitalization of $145.42 million, a price-to-earnings ratio of 2,041.64 and a beta of 1.11. The company has a debt-to-equity ratio of 2.81, a current ratio of 135.18 and a quick ratio of 135.18.

Insider Activity

In other news, major shareholder Eagle Point Credit Management sold 2,954 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $22.07, for a total value of $65,194.78. Following the sale, the insider owned 739,023 shares of the company’s stock, valued at $16,310,237.61. The trade was a 0.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 25,986 shares of company stock valued at $599,341 in the last 90 days. 3.92% of the stock is owned by company insiders.

Institutional Investors Weigh In On ACRES Commercial Realty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACR. Royal Bank of Canada lifted its position 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 worth $114,000 after buying an additional 4,492 shares in the last quarter. Barclays PLC grew its holdings in shares of ACRES Commercial Realty by 10.8% in the 4th quarter. Barclays PLC now owns 9,610 shares of the company’s stock valued at $205,000 after acquiring an additional 939 shares in the last quarter. State Street Corp grew its holdings in shares of ACRES Commercial Realty by 8.5% in the 4th quarter. State Street Corp now owns 86,053 shares of the company’s stock valued at $1,836,000 after acquiring an additional 6,713 shares in the last quarter. Wells Fargo & Company MN increased its position 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 acquiring an additional 2,281 shares during the last quarter. Finally, MetLife Investment Management LLC acquired a new stake in shares of ACRES Commercial Realty in the fourth quarter valued at about $76,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

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.