ACRES Commercial Realty Corp. $ACR Shares Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management boosted its holdings in ACRES Commercial Realty Corp. (NYSE:ACR) by 12.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 33,889 shares of the company’s stock after buying an additional 3,618 shares during the quarter. Ritholtz Wealth Management’s holdings in ACRES Commercial Realty were worth $608,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC grew its position in ACRES Commercial Realty by 1.2% in the first quarter. Acadian Asset Management LLC now owns 156,453 shares of the company’s stock worth $3,386,000 after buying an additional 1,851 shares during the last quarter. Goldman Sachs Group Inc. acquired a new position in ACRES Commercial Realty in the first quarter worth approximately $488,000. Informed Momentum Co LLC acquired a new position in ACRES Commercial Realty in the first quarter worth approximately $697,000. Biltmore Family Office LLC grew its position in ACRES Commercial Realty by 6.6% during the 1st quarter. Biltmore Family Office LLC now owns 23,552 shares of the company’s stock worth $510,000 after purchasing an additional 1,448 shares in the last quarter. Finally, Jane Street Group LLC grew its position in ACRES Commercial Realty by 190.8% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of ACRES Commercial Realty in a research report on Wednesday, October 8th. JMP Securities lifted their price objective on shares of ACRES Commercial Realty from $22.00 to $23.50 and gave the stock a “market outperform” rating in a research report on Thursday, September 11th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $23.50.

Insider Activity

In other ACRES Commercial Realty news, major shareholder Eagle Point Credit Management sold 2,500 shares of ACRES Commercial Realty stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $22.68, for a total transaction of $56,700.00. Following the completion of the sale, the insider owned 771,484 shares of the company’s stock, valued at $17,497,257.12. This trade represents a 0.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 72,996 shares of company stock worth $1,636,078. Company insiders own 3.92% of the company’s stock.

ACRES Commercial Realty Trading Down 5.9%

Shares of NYSE:ACR opened at $19.09 on Monday. The firm has a fifty day moving average of $20.67 and a two-hundred day moving average of $19.10. The firm has a market capitalization of $141.75 million, a P/E ratio of -953.92 and a beta of 1.80. ACRES Commercial Realty Corp. has a 12-month low of $14.87 and a 12-month 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.

ACRES Commercial Realty 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.