Oaktree Capital Management LP Invests $8.28 Million in ACRES Commercial Realty Corp. $ACR

Oaktree Capital Management LP bought a new stake in ACRES Commercial Realty Corp. (NYSE:ACR) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 391,380 shares of the company’s stock, valued at approximately $8,282,000. Oaktree Capital Management LP owned about 5.37% of ACRES Commercial Realty at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC acquired a new position in shares of ACRES Commercial Realty during the 1st quarter valued at about $133,000. Goldman Sachs Group Inc. acquired a new stake in shares of ACRES Commercial Realty in the first quarter worth approximately $488,000. Jane Street Group LLC boosted its position in shares of ACRES Commercial Realty by 190.8% in the first quarter. Jane Street Group LLC now owns 38,434 shares of the company’s stock worth $833,000 after acquiring an additional 25,216 shares during the last quarter. Acadian Asset Management LLC grew its holdings in ACRES Commercial Realty by 16.8% in the second quarter. Acadian Asset Management LLC now owns 182,679 shares of the company’s stock valued at $3,272,000 after purchasing an additional 26,226 shares during the period. Finally, Geode Capital Management LLC grew its holdings in ACRES Commercial Realty by 125.1% in the second quarter. Geode Capital Management LLC now owns 137,996 shares of the company’s stock valued at $2,476,000 after purchasing an additional 76,688 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, major shareholder Eagle Point Credit Management sold 3,142 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $21.80, for a total value of $68,495.60. Following the completion of the sale, the insider directly owned 741,977 shares in the company, valued at approximately $16,175,098.60. This represents a 0.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 52,344 shares of company stock worth $1,249,355. 3.92% of the stock is currently owned by corporate insiders.

ACRES Commercial Realty Trading Down 0.1%

ACR traded down $0.03 on Friday, reaching $19.01. 1,066 shares of the company’s stock were exchanged, compared to its average volume of 21,555. ACRES Commercial Realty Corp. has a twelve month low of $16.51 and a twelve month high of $24.61. The company’s 50 day moving average is $19.31 and its 200-day moving average is $20.58. The company has a debt-to-equity ratio of 2.81, a quick ratio of 104.99 and a current ratio of 135.18. The company has a market cap of $138.55 million, a price-to-earnings ratio of 1,902.40 and a beta of 1.19.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Weiss Ratings downgraded shares of ACRES Commercial Realty from a “hold (c)” rating to a “sell (d+)” rating in a research note on Wednesday. Zacks Research upgraded ACRES Commercial Realty to a “hold” rating in a report on Friday, December 19th. Finally, Wall Street Zen lowered ACRES Commercial Realty from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, ACRES Commercial Realty presently has an average rating of “Hold” and a consensus price target of $24.50.

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.