Acadian Asset Management LLC Acquires 1,851 Shares of ACRES Commercial Realty Corp. $ACR

Acadian Asset Management LLC lifted its holdings in shares of ACRES Commercial Realty Corp. (NYSE:ACR) by 1.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 156,453 shares of the company’s stock after purchasing an additional 1,851 shares during the period. Acadian Asset Management LLC owned about 2.12% of ACRES Commercial Realty worth $3,386,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Ritholtz Wealth Management raised its stake in ACRES Commercial Realty by 16.8% in the 1st quarter. Ritholtz Wealth Management now owns 30,271 shares of the company’s stock valued at $656,000 after acquiring an additional 4,360 shares during the period. Jane Street Group LLC bought a new stake in ACRES Commercial Realty in the 4th quarter valued at about $213,000. Northern Trust Corp raised its stake in ACRES Commercial Realty by 32.5% in the 4th quarter. Northern Trust Corp now owns 39,671 shares of the company’s stock valued at $641,000 after acquiring an additional 9,738 shares during the period. Informed Momentum Co LLC bought a new stake in ACRES Commercial Realty in the 1st quarter valued at about $697,000. Finally, Goldman Sachs Group Inc. bought a new stake in ACRES Commercial Realty in the 1st quarter valued at about $488,000. 40.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, JMP Securities lifted their target price on ACRES Commercial Realty from $22.00 to $23.50 and gave the company a “market outperform” rating in a report on Thursday. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, ACRES Commercial Realty has an average rating of “Moderate Buy” and an average target price of $23.50.

Insider Buying and Selling at ACRES Commercial Realty

In other news, major shareholder Eagle Point Credit Management sold 5,945 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $22.52, for a total transaction of $133,881.40. Following the completion of the sale, the insider owned 781,067 shares of the company’s stock, valued at approximately $17,589,628.84. This represents a 0.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 77,505 shares of company stock worth $1,731,868 over the last ninety days. Corporate insiders own 3.92% of the company’s stock.

ACRES Commercial Realty Stock Down 1.8%

ACR opened at $20.78 on Monday. The company has a market cap of $154.40 million, a P/E ratio of -1,038.48 and a beta of 1.82. ACRES Commercial Realty Corp. has a 12 month low of $14.87 and a 12 month high of $23.81. The company has a current ratio of 69.53, a quick ratio of 69.53 and a debt-to-equity ratio of 3.01. The business’s 50-day moving average price is $19.61 and its 200-day moving average price is $19.28.

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.