10 Cheap REITs with Huge Upside

4. ACRES Commercial Realty Corp. (NYSE:ACR)

Average Upside Potential: 22.63%

Forward P/E: 8.25

Number of Hedge Funds: 5

ACRES Commercial Realty Corp. (NYSE:ACR) primarily focuses on originating, holding, and managing commercial real estate mortgage loans and other commercial real estate-related debt investments. The REIT is externally managed by ACRES Capital, LLC, a subsidiary of ACRES Capital Corp which is a private commercial real estate lender dedicated to nationwide middle market CRE lending and focuses on office, student housing, multifamily, hospitality, industrial and other asset types in top US markets.

The REIT offers a diversified commercial real estate loan portfolio with income protection. Other than having a long-term origination track record, the firm has established relationships with financing institutions. Furthermore, ACRES Commercial Realty Corp. (NYSE:ACR) has a massive opportunity in the vast US commercial real estate market to benefit from.

For the second quarter, ACRES Commercial Realty Corp. (NYSE:ACR) reported GAAP net income allocable to common shares of $1.7 million. Earnings available for distribution increased to $0.51 per share from $0.16 per share in the previous quarter. Furthermore, the REIT closed the quarter with a commercial real estate loan portfolio of $1.7 billion across 64 individual investments.

Hence, ACRES Commercial Realty Corp. (NYSE:ACR) is another cheap real estate investment trust with a well-balanced and solid commercial real estate loan portfolio. As of October 24, the average upside potential for the stock stands at 22.63%.