Short Interest in ACRES Commercial Realty Corp. (NYSE:ACR) Increases By 51.8%

ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) was the recipient of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 12,600 shares, a growth of 51.8% from the February 28th total of 8,300 shares. Based on an average trading volume of 32,700 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.2% of the shares of the stock are sold short.

ACRES Commercial Realty Trading Up 2.1 %

NYSE:ACR traded up $0.44 during mid-day trading on Wednesday, hitting $21.72. 10,291 shares of the stock traded hands, compared to its average volume of 21,558. The company has a quick ratio of 73.84, a current ratio of 73.84 and a debt-to-equity ratio of 3.33. ACRES Commercial Realty has a 52 week low of $12.33 and a 52 week high of $23.81. The stock has a market capitalization of $161.94 million, a price-to-earnings ratio of 25.86 and a beta of 2.12. The firm's 50 day moving average is $20.13 and its two-hundred day moving average is $17.64.

Insider Activity

In other news, major shareholder Eagle Point Credit Management sold 9,937 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $23.08, for a total transaction of $229,345.96. Following the sale, the insider now directly owns 866,466 shares in the company, valued at approximately $19,998,035.28. This represents a 1.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 32,150 shares of company stock worth $729,958. 4.07% of the stock is currently owned by insiders.

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Institutional Investors Weigh In On ACRES Commercial Realty

Several hedge funds and other institutional investors have recently modified their holdings of ACR. Connor Clark & Lunn Investment Management Ltd. bought a new position in ACRES Commercial Realty in the 3rd quarter valued at $177,000. Barclays PLC grew its holdings in shares of ACRES Commercial Realty by 147.1% in the third quarter. Barclays PLC now owns 3,499 shares of the company's stock worth $55,000 after purchasing an additional 2,083 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in ACRES Commercial Realty in the 4th quarter worth about $412,000. Raymond James Financial Inc. bought a new stake in ACRES Commercial Realty during the 4th quarter valued at about $829,000. Finally, Sei Investments Co. purchased a new stake in ACRES Commercial Realty in the 4th quarter valued at about $162,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ACR shares. JMP Securities upped their price objective on ACRES Commercial Realty to $22.00 and gave the company a "buy" rating in a research report on Friday, March 7th. Jones Trading restated a "hold" rating on shares of ACRES Commercial Realty in a report on Thursday, March 13th.

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.