Raymond James Financial Inc. Acquires Shares of 51,339 ACRES Commercial Realty Corp. (NYSE:ACR)

Raymond James Financial Inc. acquired a new position in ACRES Commercial Realty Corp. (NYSE:ACR) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 51,339 shares of the company’s stock, valued at approximately $829,000. Raymond James Financial Inc. owned 0.66% of ACRES Commercial Realty at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC grew its position in ACRES Commercial Realty by 2.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 61,759 shares of the company’s stock valued at $997,000 after buying an additional 1,458 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of 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 acquiring an additional 6,393 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of ACRES Commercial Realty during the 4th quarter valued at about $412,000. Biltmore Family Office LLC increased its stake in shares of ACRES Commercial Realty by 41.7% in the 4th quarter. Biltmore Family Office LLC now owns 22,104 shares of the company’s stock valued at $357,000 after purchasing an additional 6,504 shares in the last quarter. Finally, Sei Investments Co. acquired a new position in ACRES Commercial Realty in the 4th quarter worth about $162,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity at ACRES Commercial Realty

In other ACRES Commercial Realty news, major shareholder Eagle Point Credit Management sold 9,937 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $23.08, for a total value of $229,345.96. Following the transaction, the insider now directly owns 866,466 shares of the company’s stock, valued at $19,998,035.28. This trade represents a 1.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 24,004 shares of company stock valued at $545,460. 3.92% of the stock is owned by insiders.

ACRES Commercial Realty Stock Down 1.4 %

ACR opened at $18.54 on Wednesday. The company has a market cap of $137.05 million, a PE ratio of 22.07 and a beta of 1.69. ACRES Commercial Realty Corp. has a twelve month low of $12.33 and a twelve month high of $23.81. The company has a 50-day moving average price of $19.89 and a 200 day moving average price of $18.12. 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 announced its earnings results on Wednesday, May 7th. The company reported ($0.97) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($1.15). The firm had revenue of $5.60 million for the quarter, compared to analyst estimates of $19.89 million. ACRES Commercial Realty had a net margin of 25.71% and a return on equity of 5.43%. Sell-side analysts expect that ACRES Commercial Realty Corp. will post 0.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ACR has been the topic of several research analyst reports. Jones Trading reissued a “hold” rating on shares of ACRES Commercial Realty in a report on Thursday, March 13th. JMP Securities lifted their price target on shares of ACRES Commercial Realty to $22.00 and gave the company a “buy” rating in a research note 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.