Citizens JMP raised the firm's price target on ACRES Commercial Realty Corp. to $24.50 from $23.50 and keeps an Outperform rating on the shares following the Q3 earnings report. While the current tax loss utilization strategy does not provide a quarterly dividend to investors at this point, the utilization of the tax loss carryforwards and associated growth in book value creates an attractive long-term price appreciation opportunity, the firm says.
