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

ACRES Commercial Realty Corp. (NYSE:ACR) saw a significant increase in short interest in 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 shares of the stock are sold short. Based on an average daily volume of 37,300 shares, the short-interest ratio is presently 0.6 days.

ACRES Commercial Realty Trading Down 2.8 %

Shares of ACR traded down $0.49 during midday trading on Friday, reaching $17.07. The company had a trading volume of 32,285 shares, compared to its average volume of 22,055. The firm has a 50 day simple moving average of $20.21 and a 200-day simple moving average of $17.88. The company has a quick ratio of 73.84, a current ratio of 73.84 and a debt-to-equity ratio of 3.33. The stock has a market cap of $127.27 million, a PE ratio of 20.32 and a beta of 1.56. ACRES Commercial Realty has a 1-year low of $12.33 and a 1-year high of $23.81.

Insider Buying and Selling at ACRES Commercial Realty

In related news, major shareholder Eagle Point Credit Management sold 1,172 shares of the company’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $22.48, for a total transaction of $26,346.56. Following the completion of the transaction, the insider now owns 859,525 shares in the company, valued at $19,322,122. This represents a 0.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 32,150 shares of company stock valued at $729,958. Company insiders own 4.07% of the company’s stock.

Institutional Trading of ACRES Commercial Realty

Several hedge funds have recently made changes to their positions in the company. Barclays PLC increased its stake 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 acquiring an additional 2,083 shares during the last quarter. Sei Investments Co. acquired a new position in ACRES Commercial Realty in the 4th quarter valued at about $162,000. Jane Street Group LLC purchased a new position in ACRES Commercial Realty in the 4th quarter valued at approximately $213,000. Biltmore Family Office LLC boosted its holdings in ACRES Commercial Realty by 41.7% in the fourth 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 during the period. Finally, Bank of New York Mellon Corp acquired a new position in ACRES Commercial Realty during the 4th quarter worth $412,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.