ACRES Commercial Realty Corp. (NYSE:ACR – Get Free Report) saw a significant increase in short interest during the month of July. As of July 15th, there was short interest totalling 64,500 shares, an increase of 93.7% from the June 30th total of 33,300 shares. Approximately 1.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 12,900 shares, the short-interest ratio is currently 5.0 days.
Wall Street Analyst Weigh In
Separately, JMP Securities upped their price objective on ACRES Commercial Realty from $14.00 to $15.50 and gave the company a “market outperform” rating in a research report on Tuesday, April 30th.
View Our Latest Research Report on ACRES Commercial Realty
ACRES Commercial Realty Trading Up 0.1 %
ACRES Commercial Realty (NYSE:ACR – Get Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.25). ACRES Commercial Realty had a net margin of 28.51% and a return on equity of 7.76%. The company had revenue of $18.77 million for the quarter, compared to analysts’ expectations of $13.00 million. During the same quarter last year, the company earned $0.42 earnings per share. As a group, sell-side analysts expect that ACRES Commercial Realty will post 1.16 earnings per share for the current fiscal year.
Insider Activity at ACRES Commercial Realty
In related news, major shareholder Eagle Point Credit Management sold 7,005 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $25.01, for a total transaction of $175,195.05. Following the completion of the transaction, the insider now directly owns 684,831 shares of the company’s stock, valued at $17,127,623.31. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders sold 31,964 shares of company stock valued at $797,147. Insiders own 4.07% of the company’s stock.
Institutional Investors Weigh In On ACRES Commercial Realty
Hedge funds and other institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC raised its holdings in shares of ACRES Commercial Realty by 19.2% in the first quarter. Acadian Asset Management LLC now owns 105,420 shares of the company’s stock worth $1,480,000 after buying an additional 16,986 shares during the period. Janney Montgomery Scott LLC bought a new stake in ACRES Commercial Realty during the 1st quarter valued at $172,000. O Shaughnessy Asset Management LLC purchased a new position in ACRES Commercial Realty during the 1st quarter worth $580,000. Finally, Nokomis Capital L.L.C. acquired a new position in shares of ACRES Commercial Realty during the first quarter valued at about $3,729,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
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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