Raymond James Financial Inc. Takes Position in ACRES Commercial Realty Corp. (NYSE:ACR)

Raymond James Financial Inc. purchased a new stake in shares of ACRES Commercial Realty Corp. (NYSE:ACR - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 51,339 shares of the company's stock, valued at approximately $829,000. Raymond James Financial Inc. owned approximately 0.66% of ACRES Commercial Realty at the end of the most recent reporting period.

Separately, Barclays PLC boosted its holdings 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 during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

ACRES Commercial Realty Stock Performance

ACR stock traded down $1.48 during mid-day trading on Thursday, hitting $17.68. 28,325 shares of the company were exchanged, compared to its average volume of 21,940. ACRES Commercial Realty Corp. has a 1-year low of $12.33 and a 1-year high of $23.81. The business has a 50 day simple moving average of $20.37 and a 200-day simple moving average of $17.83. The company has a current ratio of 73.84, a quick ratio of 73.84 and a debt-to-equity ratio of 3.33. The stock has a market capitalization of $131.78 million, a PE ratio of 21.04 and a beta of 1.56.

Insider Transactions at ACRES Commercial Realty

In other ACRES Commercial Realty news, major shareholder Eagle Point Credit Management sold 1,172 shares of the firm's stock in a transaction on Friday, March 28th. The stock was sold at an average price of $22.48, for a total transaction of $26,346.56. Following the transaction, the insider now owns 859,525 shares in the company, valued at $19,322,122. This trade represents a 0.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 32,150 shares of company stock valued at $729,958. 4.07% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Jones Trading reiterated a "hold" rating on shares of ACRES Commercial Realty in a report on Thursday, March 13th. JMP Securities lifted their target price on ACRES Commercial Realty to $22.00 and gave the company a "buy" rating in a research report on Friday, March 7th.

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.