ACRES Commercial Realty (NYSE:ACR) Trading Down 0.3% – Here’s What Happened

ACRES Commercial Realty Corp. (NYSE:ACR) traded down 0.3% during mid-day trading on Friday . The stock traded as low as $17.58 and last traded at $17.62. 34,365 shares were traded during mid-day trading, an increase of 11% from the average session volume of 30,912 shares. The stock had previously closed at $17.67.

ACRES Commercial Realty Stock Performance

The company has a current ratio of 88.11, a quick ratio of 88.11 and a debt-to-equity ratio of 2.89. The company’s 50-day simple moving average is $18.08 and its 200-day simple moving average is $18.75. The stock has a market capitalization of $130.21 million, a price-to-earnings ratio of 60.76 and a beta of 1.69.

ACRES Commercial Realty (NYSE:ACR) last announced its quarterly earnings results 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 22.98% and a return on equity of 2.95%. The business had revenue of $5.60 million during the quarter, compared to analyst estimates of $19.89 million. On average, analysts expect that ACRES Commercial Realty Corp. will post 0.78 EPS for the current year.

Insider Transactions at ACRES Commercial Realty

In other ACRES Commercial Realty news, major shareholder Eagle Point Credit Management sold 11,071 shares of the company’s stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $22.39, for a total value of $247,879.69. Following the completion of the transaction, the insider directly owned 847,501 shares in the company, valued at approximately $18,975,547.39. This represents a 1.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders have sold 24,632 shares of company stock valued at $550,206. Corporate insiders own 3.92% of the company’s stock.

Institutional Investors Weigh In On ACRES Commercial Realty

Several large investors have recently modified their holdings of the company. Gratia Capital LLC boosted its stake in ACRES Commercial Realty by 1.3% during the fourth quarter. Gratia Capital LLC now owns 101,314 shares of the company’s stock worth $1,636,000 after acquiring an additional 1,314 shares in the last quarter. Biltmore Family Office LLC boosted its stake in ACRES Commercial Realty by 6.6% during the first quarter. Biltmore Family Office LLC now owns 23,552 shares of the company’s stock worth $510,000 after acquiring an additional 1,448 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake 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 worth $997,000 after acquiring an additional 1,458 shares in the last quarter. Acadian Asset Management LLC boosted its stake in ACRES Commercial Realty by 1.2% during the first quarter. Acadian Asset Management LLC now owns 156,453 shares of the company’s stock worth $3,386,000 after acquiring an additional 1,851 shares in the last quarter. Finally, Nokomis Capital L.L.C. boosted its stake in ACRES Commercial Realty by 1.1% during the fourth quarter. Nokomis Capital L.L.C. now owns 264,597 shares of the company’s stock worth $4,273,000 after acquiring an additional 2,889 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

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.