Short Interest in ACRES Commercial Realty Corp. (NYSE:ACR) Grows By 37.4%

ACRES Commercial Realty Corp. (NYSE:ACR) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 52,200 shares, an increase of 37.4% from the September 15th total of 38,000 shares. Currently, 0.8% of the shares of the stock are short sold. Based on an average daily volume of 18,600 shares, the days-to-cover ratio is currently 2.8 days.

Wall Street Analyst Weigh In

Separately, JMP Securities raised their price target on ACRES Commercial Realty from $16.50 to $17.50 and gave the stock a “market outperform” rating in a research report on Wednesday, September 25th.

ACRES Commercial Realty Price Performance

ACRES Commercial Realty stock traded up $0.04 during mid-day trading on Tuesday, hitting $15.55. 1,264 shares of the company were exchanged, compared to its average volume of 21,512. The company has a market capitalization of $123.76 million, a P/E ratio of 22.16 and a beta of 2.05. The company has a debt-to-equity ratio of 3.56, a current ratio of 100.49 and a quick ratio of 100.49. ACRES Commercial Realty has a 12-month low of $6.62 and a 12-month high of $16.13. The business’s 50 day simple moving average is $15.58 and its two-hundred day simple moving average is $14.22.

Insider Buying and Selling

In related news, major shareholder Eagle Point Credit Management sold 2,635 shares of ACRES Commercial Realty stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $24.88, for a total transaction of $65,558.80. Following the completion of the transaction, the insider now directly owns 620,959 shares of the company’s stock, valued at approximately $15,449,459.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 101,173 shares of company stock valued at $2,487,360. 4.07% of the stock is owned by insiders.

Institutional Investors Weigh In On ACRES Commercial Realty

Hedge funds and other institutional investors have recently made changes to their positions in the business. O Shaughnessy Asset Management LLC purchased a new stake in shares of ACRES Commercial Realty in the first quarter valued at $580,000. Janney Montgomery Scott LLC purchased a new stake in ACRES Commercial Realty during the first quarter valued at about $172,000. Acadian Asset Management LLC grew its position in ACRES Commercial Realty by 19.2% during the first quarter. Acadian Asset Management LLC now owns 105,420 shares of the company’s stock valued at $1,480,000 after acquiring an additional 16,986 shares during the period. Ritholtz Wealth Management grew its position in ACRES Commercial Realty by 17.0% during the second quarter. Ritholtz Wealth Management now owns 20,944 shares of the company’s stock valued at $267,000 after acquiring an additional 3,043 shares during the period. Finally, Biltmore Family Office LLC purchased a new stake in ACRES Commercial Realty during the second quarter valued at about $160,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

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.