Acadian Asset Management LLC Raises Stake in ACRES Commercial Realty Corp. $ACR

Acadian Asset Management LLC increased its holdings in shares of ACRES Commercial Realty Corp. (NYSE:ACR) by 16.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 182,679 shares of the company’s stock after buying an additional 26,226 shares during the quarter. Acadian Asset Management LLC owned about 2.47% of ACRES Commercial Realty worth $3,272,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in ACR. Cubist Systematic Strategies LLC acquired a new stake in shares of ACRES Commercial Realty in the first quarter worth $133,000. Goldman Sachs Group Inc. bought a new position in shares of ACRES Commercial Realty during the first quarter worth about $488,000. Biltmore Family Office LLC grew its position in shares of ACRES Commercial Realty by 6.6% in the 1st 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. Ritholtz Wealth Management increased its stake in ACRES Commercial Realty by 12.0% during the second quarter. Ritholtz Wealth Management now owns 33,889 shares of the company’s stock valued at $608,000 after purchasing an additional 3,618 shares during the last quarter. Finally, Informed Momentum Co LLC acquired a new stake in shares of ACRES Commercial Realty during the 1st quarter worth approximately $697,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Eagle Point Credit Management sold 10,062 shares of the business’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $22.57, for a total value of $227,099.34. Following the completion of the transaction, the insider owned 776,433 shares of the company’s stock, valued at $17,524,092.81. The trade was a 1.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have sold 54,954 shares of company stock worth $1,243,941. 3.92% of the stock is owned by company insiders.

ACRES Commercial Realty Trading Up 0.2%

Shares of NYSE ACR opened at $21.51 on Friday. The company has a market cap of $156.69 million, a PE ratio of -1,074.71 and a beta of 1.77. 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 company has a 50-day moving average of $20.68 and a two-hundred day moving average of $19.47. ACRES Commercial Realty Corp. has a 1-year low of $14.94 and a 1-year high of $23.81.

ACRES Commercial Realty announced that its Board of Directors has approved a share buyback program on Wednesday, October 29th that allows the company to repurchase $7.50 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 5.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

ACR has been the topic of a number of research analyst reports. JMP Securities set a $24.50 price objective on shares of ACRES Commercial Realty in a research note on Friday, October 31st. Citizens Jmp lifted their target price on ACRES Commercial Realty from $23.50 to $24.50 and gave the company a “market outperform” rating in a research note on Friday, October 31st. Weiss Ratings reiterated a “hold (c-)” rating on shares of ACRES Commercial Realty in a report on Wednesday, October 8th. Citigroup reaffirmed an “outperform” rating on shares of ACRES Commercial Realty in a research note on Friday, October 31st. Finally, Wall Street Zen upgraded shares of ACRES Commercial Realty from a “strong sell” rating to a “hold” rating in a report on Saturday, November 1st. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, ACRES Commercial Realty presently has an average rating of “Moderate Buy” and an average target price of $24.50.

ACRES Commercial Realty Company 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.