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ACRES Commercial Realty (ACR)


Market Price (5/23/2026): $19.62 | Market Cap: $128.7 Mil
Sector: Financials | Industry: Mortgage REITs

ACRES Commercial Realty (ACR)


Market Price (5/23/2026): $19.62
Market Cap: $128.7 Mil
Sector: Financials
Industry: Mortgage REITs

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 20%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 16%, FCF Yield is 7.4%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 10%

Low stock price volatility
Vol 12M is 28%

Megatrend and thematic drivers
Megatrends include Digital & Alternative Assets. Themes include Private Credit.

Meaningful short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 11.06

Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 1447%

Key risks
ACR key risks include [1] fluctuating interest income and loan valuations due to market and interest rate changes, Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 20%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 16%, FCF Yield is 7.4%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 10%
2 Low stock price volatility
Vol 12M is 28%
3 Megatrend and thematic drivers
Megatrends include Digital & Alternative Assets. Themes include Private Credit.
4 Meaningful short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 11.06
5 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 1447%
6 Key risks
ACR key risks include [1] fluctuating interest income and loan valuations due to market and interest rate changes, Show more.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

ACRES Commercial Realty (ACR) stock has gained about 5% since 1/31/2026 because of the following key factors:

1. Mixed First Quarter 2026 Financial Results and Outlook. ACRES Commercial Realty reported a GAAP net loss allocable to common shares of $1.0 million, or $(0.16) per diluted share, for the first quarter ended March 31, 2026. The company missed analyst expectations, with EPS of $0.07 against a forecast of $0.1706 (a 58.97% negative surprise) and revenue of $19.5 million compared to an anticipated $20.92 million (a 6.79% shortfall). This GAAP net loss included a $1.4 million decrease in net interest income quarter-over-quarter, attributed to the ramp-up period of a new CRE securitization and lower fee recognition from loan payoffs. However, the company also reported a consolidated net income of $7.53 million and positive Earnings Available for Distribution (EAD) of $0.02 per share for the quarter, an improvement from an EAD loss of $0.48 per share in the prior quarter, and realized a $3.3 million gain from a real estate investment sale.

2. Strategic Portfolio Expansion and Successful Securitization. During the first quarter of 2026, ACRES Commercial Realty significantly grew its commercial real estate loan portfolio by approximately $374 million, increasing the total to $2.2 billion across 60 loans. The company completed a $1 billion CRE CLO (ACR 2026-FL4 securitization) in February, issuing $879.5 million in non-recourse notes that can finance up to $1.0 billion of CRE loans, thereby extending its average debt maturity to 10.7 years. This strategic move, along with a shift in portfolio mix towards multifamily assets (now 81.5% of the portfolio), indicates a focus on asset classes with historically lower credit losses, providing a positive long-term outlook despite immediate earnings misses.

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Stock Movement Drivers

Fundamental Drivers

The 2.5% change in ACR stock from 1/31/2026 to 5/23/2026 was primarily driven by a 8.3% change in the company's Shares Outstanding (Mil).
(LTM values as of)13120265232026Change
Stock Price ($)19.1519.622.5%
Change Contribution By: 
Total Revenues ($ Mil)10296-6.1%
Net Income Margin (%)28.0%27.1%-3.4%
P/E Multiple4.85.04.2%
Shares Outstanding (Mil)778.3%
Cumulative Contribution2.5%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 5/23/2026
ReturnCorrelation
ACR2.5% 
Market (SPY)8.1%45.9%
Sector (XLF)-2.3%28.3%

Fundamental Drivers

The -6.6% change in ACR stock from 10/31/2025 to 5/23/2026 was primarily driven by a -29.4% change in the company's P/E Multiple.
(LTM values as of)103120255232026Change
Stock Price ($)21.0019.62-6.6%
Change Contribution By: 
Total Revenues ($ Mil)93963.0%
Net Income Margin (%)23.3%27.1%16.2%
P/E Multiple7.05.0-29.4%
Shares Outstanding (Mil)7710.5%
Cumulative Contribution-6.6%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 5/23/2026
ReturnCorrelation
ACR-6.5% 
Market (SPY)9.9%31.7%
Sector (XLF)0.0%29.1%

Fundamental Drivers

The 1.5% change in ACR stock from 4/30/2025 to 5/23/2026 was primarily driven by a 14.8% change in the company's Shares Outstanding (Mil).
(LTM values as of)43020255232026Change
Stock Price ($)19.3319.621.5%
Change Contribution By: 
Total Revenues ($ Mil)10096-3.9%
Net Income Margin (%)29.4%27.1%-7.8%
P/E Multiple5.05.0-0.3%
Shares Outstanding (Mil)8714.8%
Cumulative Contribution1.5%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2025 to 5/23/2026
ReturnCorrelation
ACR1.6% 
Market (SPY)36.0%24.0%
Sector (XLF)8.2%29.2%

Fundamental Drivers

The 121.9% change in ACR stock from 4/30/2023 to 5/23/2026 was primarily driven by a 96.5% change in the company's Net Income Margin (%).
(LTM values as of)43020235232026Change
Stock Price ($)8.8419.62121.9%
Change Contribution By: 
Total Revenues ($ Mil)779624.3%
Net Income Margin (%)13.8%27.1%96.5%
P/E Multiple7.15.0-30.3%
Shares Outstanding (Mil)9730.4%
Cumulative Contribution121.9%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2023 to 5/23/2026
ReturnCorrelation
ACR122.1% 
Market (SPY)86.3%26.5%
Sector (XLF)64.4%29.8%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
ACR Return4%-34%16%68%32%-9%63%
Peers Return29%-17%20%-7%9%-3%27%
S&P 500 Return27%-19%24%23%16%9%98%

Monthly Win Rates [3]
ACR Win Rate50%33%50%67%67%40% 
Peers Win Rate62%48%53%53%55%44% 
S&P 500 Win Rate75%42%67%75%67%60% 

Max Drawdowns [4]
ACR Max Drawdown-34%-45%-30%-14%-30%-16% 
Peers Max Drawdown-14%-30%-29%-19%-18%-14% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: STWD, BXMT, ARI, KREF, LADR.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/22/2026 (YTD)

How Low Can It Go

EventACRS&P 500
2025 US Tariff Shock
  % Loss-15.2%-18.8%
  % Gain to Breakeven17.9%23.1%
  Time to Breakeven111 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-24.0%-9.5%
  % Gain to Breakeven31.6%10.5%
  Time to Breakeven56 days24 days
2023 SVB Regional Banking Crisis
  % Loss-17.0%-6.7%
  % Gain to Breakeven20.5%7.1%
  Time to Breakeven230 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-37.6%-24.5%
  % Gain to Breakeven60.4%32.4%
  Time to Breakeven614 days427 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-10.6%-19.2%
  % Gain to Breakeven11.9%23.8%
  Time to Breakeven44 days105 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-37.8%-3.7%
  % Gain to Breakeven60.8%3.9%
  Time to Breakeven957 days6 days

Compare to STWD, BXMT, ARI, KREF, LADR

In The Past

ACRES Commercial Realty's stock fell -15.2% during the 2025 US Tariff Shock. Such a loss loss requires a 17.9% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventACRS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-24.0%-9.5%
  % Gain to Breakeven31.6%10.5%
  Time to Breakeven56 days24 days
2022 Inflation Shock & Fed Tightening
  % Loss-37.6%-24.5%
  % Gain to Breakeven60.4%32.4%
  Time to Breakeven614 days427 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-37.8%-3.7%
  % Gain to Breakeven60.8%3.9%
  Time to Breakeven957 days6 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-24.2%-12.2%
  % Gain to Breakeven31.9%13.9%
  Time to Breakeven92 days62 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-27.7%-17.9%
  % Gain to Breakeven38.3%21.8%
  Time to Breakeven136 days123 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
  % Loss-28.2%-15.4%
  % Gain to Breakeven39.2%18.2%
  Time to Breakeven169 days125 days
2008-2009 Global Financial Crisis
  % Loss-82.0%-53.4%
  % Gain to Breakeven456.1%114.4%
  Time to Breakeven363 days1085 days
Summer 2007 Credit Crunch
  % Loss-43.0%-8.6%
  % Gain to Breakeven75.5%9.5%
  Time to Breakeven978 days47 days

Compare to STWD, BXMT, ARI, KREF, LADR

In The Past

ACRES Commercial Realty's stock fell -15.2% during the 2025 US Tariff Shock. Such a loss loss requires a 17.9% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About ACRES Commercial Realty (ACR)

ACRES Commercial Realty Corp., a real estate investment trust (REIT), focuses on the origination, holding, and management of commercial real estate mortgage loans and other commercial real estate-related debt investments in the United States. It invests in commercial real estate-related assets, including floating and fixed rate first mortgage loans, first priority interests in first mortgage loans, subordinated interests in first mortgage loans, mezzanine debt, preferred equity investments, commercial mortgage-backed securities, and commercial real estate equity and preferred equity investments. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income tax to the extent that it distributes 100% of its REIT taxable income. The company was formerly known as Exantas Capital Corp. and changed its name to ACRES Commercial Realty Corp. in February 2021. ACRES Commercial Realty Corp. was incorporated in 2005 and is based in Uniondale, New York.

AI Analysis | Feedback

Here are 1-2 brief analogies to describe ACRES Commercial Realty (ACR):
  • It's like Wells Fargo's commercial real estate lending arm, but as a standalone REIT that focuses solely on financing commercial properties.
  • Imagine a company like Simon Property Group (a major commercial property owner), but instead of owning buildings, ACRES lends money for commercial real estate mortgages.

AI Analysis | Feedback

  • Commercial Real Estate Mortgage Loans: The origination, holding, and management of various types of mortgage loans secured by commercial properties.
  • Mezzanine Debt Investments: Providing hybrid debt-equity financing to commercial real estate projects, ranking below senior debt but above equity.
  • Preferred Equity Investments: Investments in the preferred equity of commercial real estate entities, offering priority in profit distribution and and asset liquidation.
  • Commercial Mortgage-Backed Securities (CMBS): Investing in securities backed by pools of commercial real estate mortgage loans.
  • Commercial Real Estate Equity Investments: Direct investments in the ownership interests of commercial real estate properties.

AI Analysis | Feedback

ACRES Commercial Realty Corp. (ACR) operates as a real estate investment trust (REIT) focused on originating, holding, and managing commercial real estate mortgage loans and other related debt and equity investments. Given this business model, ACR's "customers" are the borrowers and counterparties in these commercial real estate transactions.

ACR primarily provides financing and capital to other companies involved in the commercial real estate sector. Due to the nature of their lending and investment activities, ACR does not typically disclose specific names of its borrowers or investment partners as "major customers" in the way a traditional product or service company might. Instead, their customer base consists of a diverse range of commercial real estate entities. The primary categories of companies that ACR serves include:

  1. Commercial Real Estate Developers: Companies engaged in the development, redevelopment, or construction of various commercial property types, such as office buildings, multifamily residential complexes, industrial facilities, and retail centers, seeking financing for their projects.
  2. Commercial Property Owners and Operators: Entities that own, manage, and operate income-producing commercial real estate assets, requiring capital for property acquisitions, refinancing existing debt, or making improvements to their portfolios.
  3. Real Estate Investment Sponsors and Funds: Private equity real estate firms, institutional investors, or other investment vehicles that acquire and manage portfolios of commercial properties, seeking debt or preferred equity capital to support their investment strategies.

AI Analysis | Feedback

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AI Analysis | Feedback

Mark Fogel, President and Chief Executive Officer

Mark Fogel has served as President, Chief Executive Officer, and a director of ACRES Commercial Realty Corp. since its acquisition by ACRES Capital, LLC in July 2020. He is also the President and Chief Executive Officer of ACRES Capital, LLC, which he founded in 2012 and which acts as the external manager for ACRES Commercial Realty Corp. Mr. Fogel possesses over 20 years of experience in financing transitional, middle-market commercial real estate assets. His career includes executive roles at various prominent commercial real estate finance companies, where he was responsible for loan production, asset management, and special servicing for a diverse portfolio of investments nationwide. With nearly 30 years of extensive industry experience in commercial real estate finance, he previously worked in the Asset Management and Development group at Forest City Ratner from January 1996 to June 1997. He began his real estate career in June 1994 as a Finance and Real Estate Property Manager at General Growth Properties.

Eldron Blackwell, Chief Financial Officer and Senior Vice President

Eldron Blackwell has held the position of Senior Vice President, Chief Financial Officer, and Treasurer of ACRES Commercial Realty Corp. since January 2024. Prior to this, he served as the Company's Vice President and Chief Accounting Officer from March 2014 to December 2023. Before joining ACRES Commercial Realty Corp., Mr. Blackwell was the Assistant Controller for New Penn Financial, LLC, a residential mortgage lender, from March 2013 to March 2014. From September 2001 to March 2013, he worked as a Senior Manager in the audit practice at the global accounting firm Grant Thornton LLP.

Jaclyn Jesberger, Chief Legal Officer, Senior Vice President and Secretary

Jaclyn Jesberger serves as the Chief Legal Officer, Senior Vice President, and Secretary for ACRES Commercial Realty Corp.

Linda Kilpatrick, Vice President, Chief Accounting Officer and Controller

Linda Kilpatrick holds the titles of Vice President, Chief Accounting Officer, and Controller at ACRES Commercial Realty Corp.

Steven Landgraber, Senior Vice President of Corporate Finance & Investor Relations Officer

Steven Landgraber is the Senior Vice President of Corporate Finance and Investor Relations Officer for ACRES Commercial Realty Corp.

AI Analysis | Feedback

ACRES Commercial Realty (ACR), a real estate investment trust (REIT) focused on commercial real estate mortgage loans and investments, faces several key business risks inherent to its operating model and the broader economic environment.

  1. High Leverage and Liquidity Challenges

    ACRES Commercial Realty operates with a high degree of leverage, which amplifies both potential returns and risks. The company's debt-to-equity ratio stands at 2.85, indicating a significant reliance on borrowed capital. This high leverage can lead to liquidity challenges, as evidenced by a negative free cash flow yield and a decline in operating cash flow growth year-over-year. While leverage is a common strategy for REITs, elevated levels make the company more vulnerable to market downturns or credit quality issues.

  2. Interest Rate Risk

    As a commercial mortgage REIT, ACR is highly sensitive to fluctuations in interest rates. Increases in benchmark interest rates can lead to higher borrowing costs for the company, which directly impacts its net interest margin and overall profitability. Although ACRES Commercial Realty deals with floating-rate loans, the cost of its financing facilities can still be adversely affected by rising rates, potentially compressing the spread between the interest earned on its assets and its financing costs.

  3. Credit Risk and Cyclical Nature of Commercial Real Estate

    ACR's business is centered on originating and managing commercial real estate (CRE) mortgage loans, which are considered to carry inherent risks tied to the performance and value of the underlying collateral properties. The repayment capacity of these loans is directly linked to the profitability and value of commercial properties, which are susceptible to the cyclical nature of the real estate market and broader economic conditions. A deterioration in the commercial real estate market could lead to increased loan defaults and reduced recovery rates on ACR's investments, potentially impairing the company's equity. Despite recent improvements in portfolio credit quality with a reduction in higher-risk rated loans, the company has experienced net losses in past quarters, partly due to credit loss provisions and a charged-off mezzanine loan.

AI Analysis | Feedback

The structural shift to remote and hybrid work models poses a significant emerging threat to ACRES Commercial Realty. This trend directly impacts the demand for and valuation of office commercial real estate, which serves as collateral for a substantial portion of the mortgage loans and debt investments that ACR originates, holds, and manages. Sustained decreases in office occupancy rates, rising vacancies, and pressure on rental income and property values could increase default risks, impair asset values, and reduce opportunities for new profitable investments in this sector for ACR.

AI Analysis | Feedback

The addressable market for ACRES Commercial Realty's main products and services is the U.S. commercial real estate debt market.

As of the fourth quarter of 2023, the U.S. commercial real estate (CRE) debt outstanding was valued at $5.9 trillion.

AI Analysis | Feedback

ACRES Commercial Realty (NYSE: ACR) is expected to drive future revenue growth over the next 2-3 years through several key strategies centered around its core business of commercial real estate mortgage loans.

  1. Net Loan Portfolio Growth through New Originations: The company actively focuses on expanding its loan portfolio by originating new commercial real estate (CRE) loans. In the fourth quarter of 2025, ACRES closed new commitments of $571 million, leading to a net increase of $443.8 million in its loan portfolio. Management anticipates this growth to continue, projecting a net portfolio growth of $500 million to $700 million in 2026. This consistent expansion of the loan book directly translates to increased interest income, a primary component of the company's revenue.
  2. Strategic Focus on Multifamily Loans: ACRES is strategically directing its origination efforts towards multifamily properties, a sector generally associated with lower credit losses. This focus on "best-in-class sponsors in top markets" for multifamily loans aims to enhance the overall quality and stability of its portfolio. This approach can lead to more predictable and consistent interest income while mitigating potential credit losses.
  3. Execution of CRE Collateralized Loan Obligations (CLOs): The successful structuring and closing of CRE securitization deals, such as the $1 billion ACRES 2026 FL-4 in February 2026, are crucial for future revenue growth. These securitizations enable ACRES to efficiently finance new loan originations and reinvest capital, thereby facilitating further expansion of its lending activities and generating additional interest income streams. The company aims to execute more such transactions.
  4. Maintaining or Improving Loan Spreads: Management has indicated a strategic intent to maintain or even improve the weighted average spreads on its newly originated loans, aiming for rates "above and beyond 2.83%". By securing favorable spreads on its commercial real estate loans, ACRES can directly increase its net interest income, a vital driver of overall revenue growth.
  5. Proactive Asset Management and Strategic Dispositions: ACRES employs proactive asset management, which has led to an improved weighted average risk rating across its loan portfolio. The strategic disposition of non-core or underperforming assets, such as the sale of an office property in Austin, Texas, and expected future monetizations of real estate investments, allows the company to redeploy capital into higher-quality, higher-yielding commercial real estate loans. This disciplined approach to portfolio management supports long-term revenue growth by optimizing asset allocation and minimizing potential losses.

AI Analysis | Feedback

Share Repurchases

  • ACRES Commercial Realty has consistently engaged in share buybacks, resulting in a 28% reduction in its outstanding shares over the last five years.
  • In October 2025, the company's board of directors authorized an additional $7.5 million for its existing share repurchase program, applicable to both common and preferred stock.
  • Prior to that, in April 2025, the share repurchase program was expanded by an additional $10 million, and in December 2023, an additional $10 million was authorized.

Share Issuance

  • The total number of outstanding common shares for ACRES Commercial Realty has decreased over the last few years, from 9.55 million in 2021 to 7.1 million in 2025, largely due to share repurchases.
  • As part of its Manager Incentive Plan, ACRES Share Holdings, LLC, and its affiliates received restricted stock grants, including 299,999 shares on May 6, 2022, 295,237 shares on May 7, 2024, and 204,765 shares on March 5, 2026, tied to book value per share performance.

Inbound Investments

  • In January 2026, ACRES Commercial Realty announced the pricing of a $1.0 billion Collateralized Loan Obligation (CLO) backed by commercial mortgage loans, a form of financing for its lending activities.
  • In May 2021, the company closed ACR 2021-FL1, an $802.6 million commercial real estate (CRE) debt securitization, issuing $675.2 million of non-recourse, floating-rate notes to third parties to finance CRE loans.

Outbound Investments

  • ACRES Commercial Realty's primary outbound investments are in its core business of originating and managing commercial real estate mortgage loans and other CRE-related debt and equity investments.
  • In 2025, the company originated 14 floating-rate commercial real estate whole loans totaling $733 million, including mezzanine and preferred equity, to expand its lending portfolio.
  • The company actively manages its portfolio through property sales and dispositions, such as a $106.8 million student housing sale that generated a net gain of $13.1 million, and contributes foreclosed assets into joint ventures.

Capital Expenditures

  • As a real estate investment trust primarily focused on financial assets like mortgage loans and debt investments, ACRES Commercial Realty does not report significant traditional capital expenditures for property, plant, and equipment in the same manner as other industries.

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Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

ACRSTWDBXMTARIKREFLADRMedian
NameACRES Co.Starwood.Blacksto.Apollo C.KKR Real.Ladder C. 
Mkt Price19.6217.3017.9610.946.4810.1314.12
Mkt Cap0.16.33.01.50.41.31.4
Rev LTM96822585263112213238
Op Inc LTM-------
FCF LTM9420345286210885
FCF 3Y Avg20603387591059499
CFO LTM1083334511670108112
CFO 3Y Avg2075838717311194142

Growth & Margins

ACRSTWDBXMTARIKREFLADRMedian
NameACRES Co.Starwood.Blacksto.Apollo C.KKR Real.Ladder C. 
Rev Chg LTM4.1%-2.7%22.5%45.6%-23.0%-18.3%0.7%
Rev Chg 3Y Avg3.0%-9.3%-2.4%-6.4%-14.5%-13.4%-7.8%
Rev Chg Q24.5%-4.2%25.5%-13.8%-4.0%1.0%-1.5%
QoQ Delta Rev Chg LTM4.5%-0.9%5.8%-3.5%-1.1%0.2%-0.3%
Op Inc Chg LTM-------
Op Inc Chg 3Y Avg-------
Op Mgn LTM-------
Op Mgn 3Y Avg-------
QoQ Delta Op Mgn LTM-------
CFO/Rev LTM10.0%101.3%59.0%44.1%62.2%50.5%54.7%
CFO/Rev 3Y Avg21.5%84.2%68.8%76.7%76.1%38.8%72.4%
FCF/Rev LTM9.9%51.1%59.0%10.5%55.7%50.5%50.8%
FCF/Rev 3Y Avg21.5%65.6%68.8%24.3%71.6%38.8%52.2%

Valuation

ACRSTWDBXMTARIKREFLADRMedian
NameACRES Co.Starwood.Blacksto.Apollo C.KKR Real.Ladder C. 
Mkt Cap0.16.33.01.50.41.31.4
P/S1.37.75.25.83.76.05.5
P/Op Inc-------
P/EBIT-------
P/E5.018.029.312.0-4.323.115.0
P/CFO13.47.68.813.16.011.810.3
Total Yield20.2%16.3%14.0%17.6%-7.8%13.6%15.2%
Dividend Yield0.0%10.8%10.6%9.3%15.7%9.2%9.9%
FCF Yield 3Y Avg17.1%9.3%11.4%3.9%17.0%7.0%10.4%
D/E14.82.15.25.411.32.45.3
Net D/E14.52.05.15.311.02.35.2

Returns

ACRSTWDBXMTARIKREFLADRMedian
NameACRES Co.Starwood.Blacksto.Apollo C.KKR Real.Ladder C. 
1M Rtn-3.0%-4.7%-9.9%-1.0%6.4%-3.1%-3.0%
3M Rtn5.6%-1.5%-5.7%5.4%-0.9%-1.0%-1.0%
6M Rtn-4.0%2.2%0.0%15.6%-16.6%-0.9%-0.4%
12M Rtn8.3%-1.9%5.8%25.5%-18.0%7.2%6.5%
3Y Rtn138.7%34.8%37.9%53.5%-18.0%36.6%37.3%
1M Excs Rtn-8.1%-9.8%-15.1%-6.1%1.3%-8.2%-8.1%
3M Excs Rtn-3.8%-9.4%-13.2%-2.1%-8.4%-9.2%-8.8%
6M Excs Rtn-18.0%-8.7%-9.8%6.3%-26.1%-11.3%-10.5%
12M Excs Rtn-21.7%-28.6%-21.1%-1.2%-44.7%-19.4%-21.4%
3Y Excs Rtn46.4%-41.6%-39.1%-25.3%-94.5%-42.5%-40.4%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Commercial Real Estate (CRE) Lending Operations100927751-143
Total100927751-143


Price Behavior

Price Behavior
Market Price$19.63 
Market Cap ($ Bil)0.1 
First Trading Date02/07/2006 
Distance from 52W High-18.3% 
   50 Days200 Days
DMA Price$20.03$20.40
DMA Trendupup
Distance from DMA-2.0%-3.8%
 3M1YR
Volatility24.5%28.2%
Downside Capture66.5862.92
Upside Capture66.8052.63
Correlation (SPY)40.5%23.7%
ACR Betas & Captures as of 4/30/2026

 1M2M3M6M1Y3Y
Beta0.610.490.740.470.470.55
Up Beta0.760.801.040.860.740.68
Down Beta4.010.160.15-0.050.110.58
Up Capture58%66%84%52%33%26%
Bmk +ve Days15223166141428
Stock +ve Days19314170129385
Down Capture54%21%71%48%60%57%
Bmk -ve Days4183056108321
Stock -ve Days3122253116346

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with ACR
ACR5.8%28.3%0.19-
Sector ETF (XLF)4.9%14.5%0.1128.6%
Equity (SPY)29.5%12.0%1.8623.8%
Gold (GLD)35.5%26.8%1.1110.5%
Commodities (DBC)42.9%18.7%1.77-13.8%
Real Estate (VNQ)15.2%13.1%0.8226.7%
Bitcoin (BTCUSD)-31.3%41.8%-0.7818.8%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with ACR
ACR5.7%34.6%0.23-
Sector ETF (XLF)8.4%18.6%0.3328.8%
Equity (SPY)14.0%17.0%0.6426.9%
Gold (GLD)18.8%18.0%0.858.2%
Commodities (DBC)10.4%19.4%0.425.0%
Real Estate (VNQ)3.8%18.8%0.1027.7%
Bitcoin (BTCUSD)11.6%55.3%0.4112.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with ACR
ACR-3.2%60.1%0.20-
Sector ETF (XLF)12.9%22.1%0.5336.9%
Equity (SPY)15.7%17.9%0.7531.8%
Gold (GLD)13.0%16.0%0.672.7%
Commodities (DBC)7.8%17.9%0.3511.4%
Real Estate (VNQ)5.5%20.7%0.2338.6%
Bitcoin (BTCUSD)66.7%66.9%1.069.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date4302026
Short Interest: Shares Quantity0.2 Mil
Short Interest: % Change Since 4152026-8.5%
Average Daily Volume0.0 Mil
Days-to-Cover Short Interest11.1 days
Basic Shares Quantity6.6 Mil
Short % of Basic Shares3.6%

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
3/4/20261.1%-0.1%-0.6%
10/29/202510.0%14.7%11.4%
7/30/20253.0%3.1%8.8%
3/5/20253.1%9.5%2.8%
10/30/20240.9%6.3%14.5%
7/31/20243.6%9.2%10.0%
2/28/20241.1%-1.6%28.6%
11/1/20234.8%4.1%4.2%
...
SUMMARY STATS   
# Positive121012
# Negative686
Median Positive4.2%9.4%11.8%
Median Negative-2.7%-3.3%-6.9%
Max Positive12.0%16.1%86.9%
Max Negative-6.2%-8.0%-13.7%

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202605/06/202610-Q
12/31/202503/10/202610-K
09/30/202511/06/202510-Q
06/30/202508/05/202510-Q
03/31/202505/08/202510-Q
12/31/202403/17/202510-K
09/30/202411/06/202410-Q
06/30/202408/06/202410-Q
03/31/202405/08/202410-Q
12/31/202303/07/202410-K
09/30/202311/07/202310-Q
06/30/202308/07/202310-Q
03/31/202305/08/202310-Q
12/31/202203/07/202310-K
09/30/202211/07/202210-Q
06/30/202208/08/202210-Q

Insider Activity

Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Eagle, Point Credit Management LlcSee footnotesSell522202622.504049,09016,594,290Form
2Eagle, Point Credit Management LlcSee footnotesSell401202622.121,09524,22116,322,967Form
3Eagle, Point Credit Management LlcSee footnotesSell318202622.072,95465,19516,310,238Form
4Eagle, Point Credit Management LlcSee footnotesSell304202621.803,14268,49616,175,099Form
5Eagle, Point Credit Management LlcSee footnotesSell304202622.0370015,42116,414,972Form