ACRES Commercial Realty Corp. (NYSE:ACR) Short Interest Update

ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) was the target of a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 49,500 shares, a growth of 32.4% from the April 30th total of 37,400 shares. Based on an average trading volume of 41,600 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.8% of the shares of the company are short sold.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. JMP Securities raised their target price on shares of ACRES Commercial Realty to $22.00 and gave the stock a "buy" rating in a research note on Friday, March 7th. Jones Trading restated a "hold" rating on shares of ACRES Commercial Realty in a research report on Thursday, March 13th.

Insider Transactions at ACRES Commercial Realty

In other news, major shareholder Eagle Point Credit Management sold 8,657 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $22.47, for a total value of $194,522.79. Following the transaction, the insider now owns 877,539 shares of the company's stock, valued at $19,718,301.33. This trade represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 24,004 shares of company stock worth $545,460 in the last 90 days. 3.92% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ACRES Commercial Realty

Several hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in ACRES Commercial Realty during the fourth quarter valued at $829,000. Informed Momentum Co LLC purchased a new position in shares of ACRES Commercial Realty during the first quarter valued at about $697,000. Bank of New York Mellon Corp purchased a new position in shares of ACRES Commercial Realty during the fourth quarter valued at about $412,000. Jane Street Group LLC increased its holdings in shares of ACRES Commercial Realty by 190.8% in the first quarter. Jane Street Group LLC now owns 38,434 shares of the company's stock worth $833,000 after purchasing an additional 25,216 shares during the last quarter. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of ACRES Commercial Realty in the first quarter worth about $488,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

ACRES Commercial Realty Price Performance

NYSE:ACR traded up $0.24 on Thursday, reaching $18.16. 32,082 shares of the company's stock traded hands, compared to its average volume of 24,530. The firm has a market cap of $134.28 million, a PE ratio of 21.62 and a beta of 1.75. The company has a quick ratio of 73.84, a current ratio of 73.84 and a debt-to-equity ratio of 3.33. The stock has a 50-day simple moving average of $18.52 and a 200-day simple moving average of $18.52. ACRES Commercial Realty has a 12 month low of $12.45 and a 12 month high of $23.81.

ACRES Commercial Realty (NYSE:ACR - Get Free Report) last posted its quarterly 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). ACRES Commercial Realty had a return on equity of 5.43% and a net margin of 25.71%. The business had revenue of $5.60 million during the quarter, compared to analysts' expectations of $19.89 million. Equities research analysts forecast that ACRES Commercial Realty will post 0.78 earnings per share for the current year.

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.