ACRES Commercial Realty Corp. (NYSE:ACR) Sees Large Increase in Short Interest

ACRES Commercial Realty Corp. (NYSE:ACR) saw a large growth in short interest in March. As of March 15th, there was short interest totalling 12,600 shares, a growth of 51.8% from the February 28th total of 8,300 shares. Based on an average daily volume of 32,700 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.2% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ACR. JMP Securities increased their target price on shares of ACRES Commercial Realty to $22.00 and gave the company a “buy” rating in a report on Friday, March 7th. Jones Trading reaffirmed a “hold” rating on shares of ACRES Commercial Realty in a research note on Thursday, March 13th.

Insider Buying and Selling at ACRES Commercial Realty

In other ACRES Commercial Realty news, major shareholder Eagle Point Credit Management sold 3,384 shares of the business’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $22.48, for a total transaction of $76,072.32. Following the sale, the insider now directly owns 861,523 shares in the company, valued at approximately $19,367,037.04. The trade was a 0.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have sold 30,978 shares of company stock valued at $703,611. 4.07% of the stock is owned by corporate insiders.

Institutional Trading of ACRES Commercial Realty

Large investors have recently modified their holdings of the business. Barclays PLC lifted its stake in ACRES Commercial Realty by 147.1% in the 3rd quarter. Barclays PLC now owns 3,499 shares of the company’s stock valued at $55,000 after buying an additional 2,083 shares in the last quarter. Sei Investments Co. acquired a new stake in shares of ACRES Commercial Realty during the fourth quarter valued at $162,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in ACRES Commercial Realty during the 3rd quarter worth about $177,000. Jane Street Group LLC acquired a new position in ACRES Commercial Realty in the 4th quarter valued at about $213,000. Finally, Biltmore Family Office LLC lifted its holdings in ACRES Commercial Realty by 41.7% in the 4th quarter. Biltmore Family Office LLC now owns 22,104 shares of the company’s stock valued at $357,000 after purchasing an additional 6,504 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

ACRES Commercial Realty Price Performance

Shares of ACRES Commercial Realty stock traded up $0.52 on Monday, hitting $21.61. The company’s stock had a trading volume of 41,480 shares, compared to its average volume of 21,545. The company has a market capitalization of $161.12 million, a P/E ratio of 25.73 and a beta of 2.12. ACRES Commercial Realty has a 52-week low of $12.33 and a 52-week high of $23.81. The firm has a fifty day moving average price of $19.98 and a 200-day moving average price of $17.56. The company has a quick ratio of 73.84, a current ratio of 73.84 and a debt-to-equity ratio of 3.33.

About ACRES Commercial Realty

ACRES Commercial Realty Corp., a real estate investment trust (REIT), focuses on the origination, holding, and management of commercial real estate mortgage loans and equity investments in commercial real estate property in the United States. It invests in commercial real estate-related assets, including floating-rate first mortgage loans, first priority interests in first mortgage loans, subordinated interests in first mortgage loans, mezzanine financing, preferred equity investments, and commercial mortgage-backed securities.