ACRES Commercial Realty (NYSE:ACR) Issues Earnings Results

ACRES Commercial Realty (NYSE:ACR) issued its quarterly earnings results on Wednesday. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.15, Zacks reports. ACRES Commercial Realty had a return on equity of 5.43% and a net margin of 25.71%.

ACRES Commercial Realty Stock Performance

NYSE:ACR traded down $0.23 during trading hours on Wednesday, hitting $20.28. 23,024 shares of the company were exchanged, compared to its average volume of 26,843. The company has a debt-to-equity ratio of 3.33, a current ratio of 73.84 and a quick ratio of 73.84. ACRES Commercial Realty has a 52-week low of $10.54 and a 52-week high of $21.17. The stock has a market capitalization of $156.87 million, a price-to-earnings ratio of 24.14 and a beta of 2.07. The company’s 50 day moving average price is $18.13 and its 200-day moving average price is $16.74.

Insiders Place Their Bets

In other news, major shareholder Eagle Point Credit Management sold 7,335 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $22.40, for a total value of $164,304.00. Following the completion of the transaction, the insider now directly owns 889,031 shares in the company, valued at $19,914,294.40. This trade represents a 0.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 31,375 shares of company stock valued at $764,033. Insiders own 4.07% of the company’s stock.

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.