ACRES Commercial Realty Corp. (NYSE:ACR) Short Interest Up 84.1% in March

ACRES Commercial Realty Corp. (NYSE:ACR) saw a significant 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. Approximately 0.4% of the shares of the company are short sold. Based on an average daily volume of 37,300 shares, the days-to-cover ratio is currently 0.6 days.

Insider Buying and Selling at ACRES Commercial Realty

In related news, major shareholder Eagle Point Credit Management sold 8,657 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $22.47, for a total value of $194,522.79. Following the completion of the transaction, the insider now directly owns 877,539 shares in the company, valued at $19,718,301.33. The trade was a 0.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, 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. 4.07% of the stock is owned by insiders.

Hedge Funds Weigh In On ACRES Commercial Realty

A number of hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in shares of ACRES Commercial Realty during the fourth quarter worth approximately $829,000. Bank of New York Mellon Corp purchased a new position in shares of ACRES Commercial Realty in the fourth quarter worth about $412,000. Jane Street Group LLC acquired a new position in ACRES Commercial Realty during the fourth quarter worth about $213,000. Sei Investments Co. purchased a new stake in ACRES Commercial Realty during the 4th quarter valued at about $162,000. Finally, Northern Trust Corp lifted its stake in ACRES Commercial Realty by 32.5% in the 4th quarter. Northern Trust Corp now owns 39,671 shares of the company’s stock worth $641,000 after purchasing an additional 9,738 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ACR. JMP Securities raised their target price on ACRES Commercial Realty to $22.00 and gave the company a “buy” rating in a research 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.

ACRES Commercial Realty Price Performance

Shares of ACR stock traded up $0.46 on Wednesday, reaching $17.63. 23,355 shares of the company were exchanged, compared to its average volume of 21,995. ACRES Commercial Realty has a 1 year low of $12.33 and a 1 year high of $23.81. The company has a debt-to-equity ratio of 3.33, a quick ratio of 73.84 and a current ratio of 73.84. The business has a 50-day moving average price of $20.28 and a 200 day moving average price of $17.86. The company has a market cap of $131.45 million, a price-to-earnings ratio of 20.99 and a beta of 1.56.

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.