ACRES Commercial Realty Corp. (NYSE:ACR) Sees Large Increase in Short Interest

ACRES Commercial Realty Corp. (NYSE:ACR) was the recipient of a significant increase in short interest in July. As of July 15th, there was short interest totalling 64,500 shares, an increase of 93.7% from the June 30th total of 33,300 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average trading volume of 12,900 shares, the days-to-cover ratio is currently 5.0 days.

Insider Activity

In other news, major shareholder Eagle Point Credit Management sold 18,464 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $25.00, for a total transaction of $461,600.00. Following the completion of the sale, the insider now owns 659,267 shares in the company, valued at $16,481,675. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 31,964 shares of company stock worth $797,147 over the last quarter. 4.07% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ACRES Commercial Realty

Several large investors have recently made changes to their positions in the business. Nokomis Capital L.L.C. bought a new position in shares of ACRES Commercial Realty during the 1st quarter worth $3,729,000. Acadian Asset Management LLC raised its holdings in shares of ACRES Commercial Realty by 19.2% in the 1st 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 in the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in shares of ACRES Commercial Realty in the 1st quarter valued at about $580,000. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of ACRES Commercial Realty in the 1st quarter valued at about $172,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

ACRES Commercial Realty Stock Up 0.1 %

ACRES Commercial Realty stock traded up $0.02 during trading on Friday, hitting $14.00. 16,159 shares of the company were exchanged, compared to its average volume of 10,417. The business’s 50 day moving average is $13.17 and its 200 day moving average is $12.32. ACRES Commercial Realty has a 52 week low of $6.62 and a 52 week high of $14.35. The company has a market capitalization of $111.44 million, a P/E ratio of 20.00 and a beta of 2.04. The company has a current ratio of 90.61, a quick ratio of 90.61 and a debt-to-equity ratio of 3.67.

ACRES Commercial Realty (NYSE:ACR) last announced its earnings results on Wednesday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.25). ACRES Commercial Realty had a net margin of 28.51% and a return on equity of 7.76%. The business had revenue of $18.77 million for the quarter, compared to analysts’ expectations of $13.00 million. During the same period in the prior year, the business earned $0.42 earnings per share. Analysts predict that ACRES Commercial Realty will post 1.16 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, JMP Securities upped their price target on ACRES Commercial Realty from $14.00 to $15.50 and gave the stock a “market outperform” rating in a report on Tuesday, April 30th.

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.