Short Interest in ACRES Commercial Realty Corp. (NYSE:ACR) Increases By 84.1%

ACRES Commercial Realty Corp. (NYSE:ACR) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 23,200 shares, an increase of 84.1% from the March 15th total of 12,600 shares. Currently, 0.4% of the company’s shares are short sold. Based on an average daily volume of 37,300 shares, the short-interest ratio is currently 0.6 days.

Analyst Ratings Changes

Several equities analysts have weighed in on ACR shares. Jones Trading reaffirmed a “hold” rating on shares of ACRES Commercial Realty in a research report on Thursday, March 13th. JMP Securities lifted their price target on shares of ACRES Commercial Realty to $22.00 and gave the stock a “buy” rating in a research note on Friday, March 7th.

ACRES Commercial Realty Price Performance

Shares of ACR traded up $0.46 during mid-day trading on Wednesday, hitting $17.63. The company’s stock had a trading volume of 23,355 shares, compared to its average volume of 21,995. The company has a current ratio of 73.84, a quick ratio of 73.84 and a debt-to-equity ratio of 3.33. ACRES Commercial Realty has a 1-year low of $12.33 and a 1-year high of $23.81. The firm has a market capitalization of $131.45 million, a P/E ratio of 20.99 and a beta of 1.56. The firm has a 50-day simple moving average of $20.28 and a 200 day simple moving average of $17.86.

Insider Activity

In other news, major shareholder Eagle Point Credit Management sold 7,335 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $22.40, for a total value of $164,304.00. Following the sale, the insider now directly owns 889,031 shares of the company’s stock, valued at approximately $19,914,294.40. The trade was a 0.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 32,150 shares of company stock valued at $729,958 in the last quarter. Insiders own 4.07% of the company’s stock.

Hedge Funds Weigh In On ACRES Commercial Realty

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC grew its position in ACRES Commercial Realty by 147.1% during the third quarter. Barclays PLC now owns 3,499 shares of the company’s stock worth $55,000 after buying an additional 2,083 shares during the period. Bank of New York Mellon Corp acquired a new position in ACRES Commercial Realty during the fourth quarter worth $412,000. Raymond James Financial Inc. purchased a new stake in ACRES Commercial Realty during the fourth quarter worth $829,000. Sei Investments Co. acquired a new stake in ACRES Commercial Realty in the fourth quarter valued at $162,000. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of ACRES Commercial Realty by 25.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 31,976 shares of the company’s stock valued at $516,000 after buying an additional 6,393 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

ACRES Commercial Realty Company Profile

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.