Bank of New York Mellon Corp bought a new position in shares of ACRES Commercial Realty Corp. (NYSE:ACR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 25,532 shares of the company's stock, valued at approximately $412,000. Bank of New York Mellon Corp owned approximately 0.33% of ACRES Commercial Realty as of its most recent SEC filing.
Separately, Barclays PLC lifted its position in ACRES Commercial Realty by 147.1% during the third quarter. Barclays PLC now owns 3,499 shares of the company's stock worth $55,000 after buying an additional 2,083 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
ACRES Commercial Realty Trading Up 1.2 %
Shares of NYSE ACR traded up $0.26 during midday trading on Wednesday, reaching $21.54. 23,081 shares of the stock were exchanged, compared to its average volume of 21,576. ACRES Commercial Realty Corp. has a twelve month low of $12.33 and a twelve month high of $23.81. The stock has a market capitalization of $160.60 million, a P/E ratio of 25.64 and a beta of 2.12. The company has a 50 day simple moving average of $20.20 and a 200 day simple moving average of $17.67. The company has a debt-to-equity ratio of 3.33, a quick ratio of 73.84 and a current ratio of 73.84.
Analyst Ratings Changes
Several brokerages have issued reports on ACR. JMP Securities upped their target price on ACRES Commercial Realty to $22.00 and gave the company a "buy" rating in a report on Friday, March 7th. Jones Trading reissued a "hold" rating on shares of ACRES Commercial Realty in a report on Thursday, March 13th.
Read Our Latest Research Report on ACR
Insiders Place Their Bets
In other ACRES Commercial Realty news, major shareholder Eagle Point Credit Management sold 1,172 shares of the stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $22.48, for a total transaction of $26,346.56. Following the completion of the transaction, the insider now owns 859,525 shares of the company's stock, valued at $19,322,122. This trade represents a 0.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 32,150 shares of company stock valued at $729,958 over the last quarter. 4.07% of the stock is owned by insiders.
About ACRES Commercial Realty
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Free Report)
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.
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