Connor Clark & Lunn Investment Management Ltd. Acquires New Position in ACRES Commercial Realty Corp. (NYSE:ACR)

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of ACRES Commercial Realty Corp. (NYSE:ACR) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,293 shares of the company’s stock, valued at approximately $177,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.14% of ACRES Commercial Realty at the end of the most recent reporting period.

Separately, Biltmore Family Office LLC acquired a new stake in ACRES Commercial Realty in the second quarter valued at approximately $160,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, JMP Securities boosted their price objective on ACRES Commercial Realty from $16.50 to $17.50 and gave the stock a “market outperform” rating in a research report on Wednesday, September 25th.

ACRES Commercial Realty Stock Performance

ACR stock opened at $17.37 on Monday. The firm has a market cap of $134.39 million, a PE ratio of 20.68 and a beta of 2.05. The company has a current ratio of 73.84, a quick ratio of 73.84 and a debt-to-equity ratio of 3.33. The stock has a 50-day moving average price of $15.92 and a 200-day moving average price of $14.76. ACRES Commercial Realty Corp. has a 1-year low of $7.44 and a 1-year high of $17.46.

Insider Activity

In related news, major shareholder Eagle Point Credit Management sold 3,576 shares of ACRES Commercial Realty stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $24.98, for a total transaction of $89,328.48. Following the transaction, the insider now owns 578,868 shares of the company’s stock, valued at $14,460,122.64. The trade was a 0.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 96,649 shares of company stock worth $2,357,930 in the last three months. Company insiders own 4.07% 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.