ACRES Commercial Realty Corp. price target raised to $23.50 from $22 at Citizens JMP

Citizens JMP analyst Chris Muller raised the firm’s price target on ACRES Commercial Realty Corp. (ACR) to $23.50 from $22 and keeps an Outperform rating on the shares. While the current tax loss carryforward utilization strategy does not provide a quarterly dividend at this time, the utilization of the tax loss carryforwards and the associated growth in retained earnings and book value creates an attractive long-term stock price appreciation opportunity, the analyst tells investors in a research note.