In a report released yesterday, Chris Muller from JMP Securities reiterated a Buy rating on ACRES Commercial Realty (ACR – Research Report), with a price target of $14.00.
Chris Muller has given his Buy rating due to a combination of factors, including the impressive increase in ACRES Commercial Realty Corp’s book value and the company’s strategic share repurchases. The fourth quarter of 2023 saw the company’s GAAP book value rise by 6.3%, which was significantly bolstered by the repurchase of shares, leading to an increase of $1.32 in book value per share. Additionally, the company’s approach to utilizing tax loss carryforwards and its potential to boost book value through retained earnings presents an opportunity for long-term price appreciation, which further supports Muller’s positive outlook for the stock.
Furthermore, the company’s financials reveal a well-managed loan portfolio and a solid liquidity position, with a slight decrease in leverage, which is another supporting factor for the Buy rating. ACRES Commercial Realty’s portfolio is dominated by multifamily loans, which comprise the majority of their holdings, indicating a focused investment strategy. The company’s liquidity, consisting of cash and undrawn credit facilities, alongside the decrease in debt-to-equity ratio, showcases a stable financial footing. These elements, combined with the company’s active management of its loan portfolio and real estate investments, have likely contributed to Chris Muller’s optimistic assessment and the Buy rating issued for ACR’s stock.
According to TipRanks, Muller is ranked #1530 out of 8706 analysts.
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ACRES Commercial Realty (ACR) Company Description:
Exantas Capital Corp. is a real estate investment trust, which engages in the provision of real estate finance services. It focuses on the origination, holding, and management of commercial mortgage loans, and commercial real estate-related debt investments. The company was founded in 2005 and is headquartered in New York, NY.
Read More on ACR:
- ACRES Commercial Realty Clarifies Disclosure Regulations
- ACRES Commercial Realty Corp. reports Q4 GAAP EPS 20c, consensus 47c
- ACRES COMMERCIAL REALTY CORP. REPORTS RESULTS FOR FOURTH QUARTER 2023 AND YEAR ENDED DECEMBER 31, 2023
- Acres Commercial Realty Corp. (ACR) Q4 Earnings Cheat Sheet
- William B. Hart Retires from ACRES Commercial Realty Board
