ACRES Commercial Realty Corp. (NYSE:ACR) Short Interest Update

ACRES Commercial Realty Corp. (NYSE:ACR) was the recipient of a significant increase in short interest in the month of 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. Approximately 1.0% of the shares of the stock are short sold. Based on an average trading volume of 12,900 shares, the short-interest ratio is presently 5.0 days.

ACRES Commercial Realty Trading Up 0.1 %

ACR stock traded up $0.02 during midday trading on Friday, reaching $14.00. 16,159 shares of the company traded hands, compared to its average volume of 10,417. ACRES Commercial Realty has a 52-week low of $6.62 and a 52-week high of $14.35. The company has a debt-to-equity ratio of 3.67, a quick ratio of 90.61 and a current ratio of 90.61. The business has a 50 day moving average of $13.17 and a 200-day moving average of $12.34. The firm has a market capitalization of $111.44 million, a price-to-earnings ratio of 20.00 and a beta of 2.04.

ACRES Commercial Realty (NYSE:ACR) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $18.77 million for the quarter, compared to analysts’ expectations of $13.00 million. During the same quarter last year, the company earned $0.42 earnings per share. As a group, sell-side analysts expect that ACRES Commercial Realty will post 1.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insider Transactions at ACRES Commercial Realty

In related news, major shareholder Eagle Point Credit Management sold 18,464 shares of the 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 transaction, the insider now directly owns 659,267 shares of the company’s stock, valued at $16,481,675. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold a total of 31,964 shares of company stock valued at $797,147 over the last 90 days. Company insiders own 4.07% of the company’s stock.

Institutional Investors Weigh In On ACRES Commercial Realty

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACR. Janney Montgomery Scott LLC purchased a new stake in shares of ACRES Commercial Realty in the first quarter worth approximately $172,000. Acadian Asset Management LLC raised its holdings in shares of ACRES Commercial Realty by 19.2% in the first quarter. Acadian Asset Management LLC now owns 105,420 shares of the company’s stock worth $1,480,000 after buying an additional 16,986 shares during the period. O Shaughnessy Asset Management LLC purchased a new stake in shares of ACRES Commercial Realty in the first quarter worth approximately $580,000. Finally, Nokomis Capital L.L.C. purchased a new stake in shares of ACRES Commercial Realty in the first quarter worth approximately $3,729,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

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.