Geode Capital Management LLC Sells 1,072 Shares of ACRES Commercial Realty Corp. (NYSE:ACR)

Geode Capital Management LLC decreased its position in shares of ACRES Commercial Realty Corp. (NYSE:ACR) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,274 shares of the company’s stock after selling 1,072 shares during the period. Geode Capital Management LLC owned 0.78% of ACRES Commercial Realty worth $974,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ACR. Raymond James Financial Inc. purchased a new position in ACRES Commercial Realty in the fourth quarter worth about $829,000. Bank of New York Mellon Corp purchased a new position in shares of ACRES Commercial Realty in the 4th quarter valued at $412,000. Sei Investments Co. purchased a new position in shares of ACRES Commercial Realty in the 4th quarter worth approximately $162,000. Arrowstreet Capital Limited Partnership grew its stake in ACRES Commercial Realty by 25.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 31,976 shares of the company’s stock worth $516,000 after buying an additional 6,393 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of 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 period. 40.03% of the stock is owned by institutional investors.

ACRES Commercial Realty Price Performance

NYSE:ACR opened at $18.62 on Friday. ACRES Commercial Realty Corp. has a 52 week low of $12.33 and a 52 week high of $23.81. The stock’s fifty day moving average is $19.99 and its two-hundred day moving average is $18.03. The company has a market capitalization of $137.64 million, a P/E ratio of 22.16 and a beta of 1.56. 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 (NYSE:ACR) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($1.15). ACRES Commercial Realty had a net margin of 25.71% and a return on equity of 5.43%. The company had revenue of $5.60 million during the quarter, compared to analysts’ expectations of $19.89 million. Equities analysts expect that ACRES Commercial Realty Corp. will post 0.78 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Eagle Point Credit Management sold 9,937 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $23.08, for a total transaction of $229,345.96. Following the completion of the transaction, the insider now directly owns 866,466 shares in the company, valued at $19,998,035.28. This trade represents a 1.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders sold 24,004 shares of company stock valued at $545,460. Company insiders own 3.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ACR. Jones Trading reaffirmed a “hold” rating on shares of ACRES Commercial Realty in a report on Thursday, March 13th. JMP Securities increased their target price on shares of ACRES Commercial Realty to $22.00 and gave the company a “buy” rating in a research report on Friday, March 7th.

ACRES Commercial Realty 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.