Goldman Sachs Group Inc. Makes New $488,000 Investment in ACRES Commercial Realty Corp. $ACR

Key Points

• Goldman Sachs Group Inc. has made a new investment in ACRES Commercial Realty Corp., purchasing 22,515 shares valued at approximately $488,000, representing about 0.30% of the company's stock.
• Other notable institutional investors, including Ritholtz Wealth Management and Northern Trust Corp, have also increased their stakes in ACRES Commercial Realty, indicating a growing interest from institutional investors.
• Analysts have recently adjusted their outlook, with JMP Securities raising their price target for ACRES Commercial Realty from $22.00 to $23.50 and giving it a "market outperform" rating.

Goldman Sachs Group Inc. bought a new position in ACRES Commercial Realty Corp. (NYSE:ACR - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 22,515 shares of the company's stock, valued at approximately $488,000. Goldman Sachs Group Inc. owned approximately 0.30% of ACRES Commercial Realty as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ritholtz Wealth Management increased its stake in shares of ACRES Commercial Realty by 16.8% in the first quarter. Ritholtz Wealth Management now owns 30,271 shares of the company's stock valued at $656,000 after buying an additional 4,360 shares during the period. Acadian Asset Management LLC increased its position in ACRES Commercial Realty by 1.2% in the 1st quarter. Acadian Asset Management LLC now owns 156,453 shares of the company's stock valued at $3,386,000 after acquiring an additional 1,851 shares during the period. Jane Street Group LLC acquired a new position in ACRES Commercial Realty in the 4th quarter valued at approximately $213,000. Northern Trust Corp increased its position 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. Finally, Informed Momentum Co LLC acquired a new position in ACRES Commercial Realty in the 1st quarter valued at approximately $697,000. Institutional investors and hedge funds own 40.03% of the company's stock.

ACRES Commercial Realty Stock Performance

Shares of ACR stock opened at $21.05 on Friday. The company has a market cap of $156.39 million, a price-to-earnings ratio of -1,051.87 and a beta of 1.82. ACRES Commercial Realty Corp. has a 52 week low of $14.87 and a 52 week high of $23.81. The company has a quick ratio of 69.53, a current ratio of 69.53 and a debt-to-equity ratio of 3.01. The firm has a 50 day moving average of $20.18 and a 200-day moving average of $19.31.

Analyst Ratings Changes

Separately, JMP Securities increased their price objective on ACRES Commercial Realty from $22.00 to $23.50 and gave the company a "market outperform" rating in a report on Thursday, September 11th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, ACRES Commercial Realty has an average rating of "Moderate Buy" and an average price target of $23.50.

Insider Activity at ACRES Commercial Realty

In other ACRES Commercial Realty news, major shareholder Eagle Point Credit Management sold 2,456 shares of the firm's stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $22.61, for a total value of $55,530.16. Following the completion of the sale, the insider directly owned 774,367 shares in the company, valued at approximately $17,508,437.87. This trade represents a 0.32% 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. Over the last three months, insiders have sold 78,860 shares of company stock worth $1,765,134. Company insiders own 3.92% of the company's stock.

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.

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