ACRES Commercial Realty Corp. (NYSE:ACR) Short Interest Up 93.7% in July

ACRES Commercial Realty Corp. (NYSE:ACR) saw 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. Approximately 1.0% of the company’s shares are sold short. Based on an average daily trading volume, of 12,900 shares, the short-interest ratio is currently 5.0 days.

Insider Buying and Selling

In other ACRES Commercial Realty news, major shareholder Eagle Point Credit Management sold 1,900 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $24.63, for a total transaction of $46,797.00. Following the completion of the transaction, the insider now owns 649,409 shares of the company’s stock, valued at $15,994,943.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 31,964 shares of company stock valued at $797,147 over the last three months. Corporate insiders own 4.07% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC bought a new stake in shares of ACRES Commercial Realty during the 1st quarter valued at $172,000. O Shaughnessy Asset Management LLC bought a new stake in shares of ACRES Commercial Realty during the 1st quarter valued at $580,000. Acadian Asset Management LLC raised its position in shares of ACRES Commercial Realty by 19.2% during the 1st quarter. Acadian Asset Management LLC now owns 105,420 shares of the company’s stock valued at $1,480,000 after purchasing an additional 16,986 shares during the period. Finally, Nokomis Capital L.L.C. bought a new stake in shares of ACRES Commercial Realty during the 1st quarter valued at $3,729,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

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

ACRES Commercial Realty Stock Performance

ACR stock traded up $0.02 on Friday, hitting $14.00. The company had a trading volume of 16,021 shares, compared to its average volume of 22,489. The stock’s 50-day simple moving average is $13.17 and its 200 day simple moving average is $12.31. The stock has a market cap of $111.43 million, a price-to-earnings ratio of 20.00 and a beta of 2.04. ACRES Commercial Realty has a 12-month low of $6.62 and a 12-month high of $14.35. 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 issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.25). The business had revenue of $18.77 million for the quarter, compared to analysts’ expectations of $13.00 million. ACRES Commercial Realty had a return on equity of 7.76% and a net margin of 28.51%. During the same quarter in the prior year, the business earned $0.42 EPS. As a group, equities research analysts expect that ACRES Commercial Realty will post 1.16 earnings per share for the current fiscal year.

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.