ACRES Commercial Realty Corp. (NYSE:ACR) Short Interest Update

ACRES Commercial Realty Corp. (NYSE:ACR) was the recipient of a significant growth in short interest in the month of December. As of December 31st, there was short interest totaling 185,430 shares, a growth of 37.3% from the December 15th total of 135,007 shares. Based on an average daily volume of 52,298 shares, the short-interest ratio is presently 3.5 days. Currently, 2.6% of the company’s stock are sold short. Currently, 2.6% of the company’s stock are sold short. Based on an average daily volume of 52,298 shares, the short-interest ratio is presently 3.5 days.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. JMP Securities set a $24.50 price target on ACRES Commercial Realty in a report on Friday, October 31st. Citigroup reaffirmed an “outperform” rating on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Citizens Jmp lifted their price target on shares of 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. Zacks Research upgraded shares of ACRES Commercial Realty to a “hold” rating in a research note on Friday, December 19th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ACRES Commercial Realty in a report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.50.

Insider Activity

In other news, major shareholder Eagle Point Credit Management sold 13,979 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $24.93, for a total value of $348,496.47. Following the completion of the sale, the insider directly owned 363,830 shares in the company, valued at $9,070,281.90. This trade represents a 3.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders have sold 51,309 shares of company stock worth $1,239,645. 3.92% of the stock is owned by corporate insiders.

Institutional Trading of ACRES Commercial Realty

Several institutional investors have recently made changes to their positions in the company. Oaktree Capital Management LP purchased a new stake in shares of ACRES Commercial Realty in the third quarter valued at about $8,282,000. Vanguard Group Inc. grew its position in ACRES Commercial Realty by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 383,696 shares of the company’s stock worth $8,119,000 after purchasing an additional 11,465 shares in the last quarter. Acadian Asset Management LLC increased its stake in ACRES Commercial Realty by 16.8% in the 2nd quarter. Acadian Asset Management LLC now owns 182,679 shares of the company’s stock valued at $3,272,000 after buying an additional 26,226 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of ACRES Commercial Realty by 125.1% during the 2nd quarter. Geode Capital Management LLC now owns 137,996 shares of the company’s stock worth $2,476,000 after buying an additional 76,688 shares in the last quarter. Finally, Gratia Capital LLC lifted its position in shares of ACRES Commercial Realty by 64.3% during the 2nd quarter. Gratia Capital LLC now owns 125,994 shares of the company’s stock worth $2,260,000 after buying an additional 49,312 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

ACRES Commercial Realty Stock Down 1.3%

Shares of NYSE:ACR traded down $0.27 during mid-day trading on Friday, hitting $20.33. 12,203 shares of the company traded hands, compared to its average volume of 29,137. The stock has a 50-day moving average price of $21.72 and a two-hundred day moving average price of $20.56. ACRES Commercial Realty has a 12-month low of $15.64 and a 12-month high of $24.61. The stock has a market cap of $148.17 million, a P/E ratio of 21.17 and a beta of 1.19. The company has a current ratio of 104.99, a quick ratio of 104.99 and a debt-to-equity ratio of 2.73.

ACRES Commercial Realty declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, October 29th that authorizes the company to buyback $7.50 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 5.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

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.