Acres Commercial Realty Corp (ACR) PT Lowered to $17 at Citizens on ACC Merger Deal
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Price: $12.89 +1.18%
Rating Summary:
0 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 14 | Down: 50 | New: 9
Rating Summary:
0 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 14 | Down: 50 | New: 9
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Citizens analyst Chris Muller lowered the price target on Acres Commercial Realty Corp (NYSE: ACR) to $17.00 (from $23.00) while maintaining a Market Outperform rating.
The analyst commented, "Following the announced merger with Acres Capital Corp, we lower our price target to $17, which reflects a 1.00x P/BV multiple on our estimated pro forma GAAP BV of $17 from $23 (0.86x prior BV)."
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