Gratia Capital LLC Purchases 49,312 Shares of ACRES Commercial Realty Corp. $ACR

Gratia Capital LLC grew its position in ACRES Commercial Realty Corp. (NYSE:ACR) by 64.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 125,994 shares of the company’s stock after acquiring an additional 49,312 shares during the quarter. ACRES Commercial Realty accounts for 2.2% of Gratia Capital LLC’s portfolio, making the stock its 18th biggest holding. Gratia Capital LLC owned approximately 1.70% of ACRES Commercial Realty worth $2,260,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. purchased a new position in shares of ACRES Commercial Realty in the second quarter valued at $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in ACRES Commercial Realty during the second quarter valued at $60,000. Bank of America Corp DE grew its stake in shares of ACRES Commercial Realty by 110.4% in the 2nd quarter. Bank of America Corp DE now owns 3,671 shares of the company’s stock worth $66,000 after buying an additional 1,926 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of ACRES Commercial Realty in the 2nd quarter worth $93,000. Finally, New York State Common Retirement Fund bought a new stake in shares of ACRES Commercial Realty in the 2nd quarter worth about $106,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ACRES Commercial Realty

In related news, major shareholder Eagle Point Credit Management sold 10,062 shares of the business’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $22.57, for a total transaction of $227,099.34. Following the completion of the transaction, the insider owned 776,433 shares in the company, valued at $17,524,092.81. The trade was a 1.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders sold 39,762 shares of company stock worth $926,401. 3.92% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ACR has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ACRES Commercial Realty in a report on Monday. Citizens Jmp upped their price objective on ACRES Commercial Realty from $23.50 to $24.50 and gave the company a “market outperform” rating in a research report on Friday, October 31st. Citigroup reaffirmed an “outperform” rating on shares of ACRES Commercial Realty in a research note on Friday, October 31st. JMP Securities set a $24.50 target price on ACRES Commercial Realty in a report on Friday, October 31st. Finally, Wall Street Zen raised ACRES Commercial Realty from a “strong sell” rating to a “hold” rating in a research report on Saturday, November 1st. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.50.

ACRES Commercial Realty Stock Up 0.3%

Shares of NYSE ACR opened at $23.78 on Friday. ACRES Commercial Realty Corp. has a 1 year low of $14.94 and a 1 year high of $24.17. The firm has a 50-day simple moving average of $21.06 and a two-hundred day simple moving average of $19.93. The company has a market cap of $173.25 million, a P/E ratio of 24.77 and a beta of 1.21. The company has a debt-to-equity ratio of 2.73, a current ratio of 104.99 and a quick ratio of 104.99.

ACRES Commercial Realty announced that its board has authorized a stock repurchase program on Wednesday, October 29th that allows the company to buyback $7.50 million in shares. This buyback authorization allows the company to purchase up to 5.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

ACRES Commercial Realty 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.