ACRES Commercial Realty Corp. initiated with a Hold at JonesResearch

JonesResearch initiated coverage of ACRES Commercial Realty Corp. with a Hold rating. ACRES continues to improve the quality of its loan portfolio and looks to monetize the value of its equity assets in the upcoming quarters, notes the analyst, who believes that the credit quality of the portfolio will continue to perform under a monetary easing cycle. ACRES, which has retained a defensive posture as they continue to build liquidity while utilizing their carry forward net operating losses, continues to repurchase stock below book and may look to reinstate the dividend in the medium-term, the analyst added.