ACRES Commercial Realty (NYSE:ACR) Issues Quarterly Earnings Results, Beats Expectations By $0.15 EPS

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

ACRES Commercial Realty Price Performance

ACR stock traded down $0.23 during mid-day trading on Wednesday, reaching $20.28. 23,024 shares of the company’s stock 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 12-month low of $10.54 and a 12-month high of $21.17. The stock’s 50 day moving average is $18.13 and its 200 day moving average is $16.74. The company has a market cap of $156.87 million, a price-to-earnings ratio of 24.14 and a beta of 2.07.

Insider Activity

In other news, major shareholder Eagle Point Credit Management sold 7,335 shares of ACRES Commercial Realty stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $22.40, for a total value of $164,304.00. Following the sale, the insider now 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 Securities & Exchange Commission, which is available through this link. Insiders sold 31,375 shares of company stock worth $764,033 over the last three months. 4.07% of the stock is currently owned by corporate insiders.

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.