Geode Capital Management LLC Has $961,000 Stake in ACRES Commercial Realty Corp. (NYSE:ACR)

Geode Capital Management LLC decreased its holdings in shares of ACRES Commercial Realty Corp. (NYSE:ACR) by 15.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,346 shares of the company’s stock after selling 11,455 shares during the quarter. Geode Capital Management LLC owned about 0.79% of ACRES Commercial Realty worth $961,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Barclays PLC boosted its stake in ACRES Commercial Realty by 147.1% during the 3rd quarter. Barclays PLC now owns 3,499 shares of the company’s stock worth $55,000 after acquiring an additional 2,083 shares during the last quarter. Biltmore Family Office LLC boosted its stake in ACRES Commercial Realty by 24.8% during the 3rd quarter. Biltmore Family Office LLC now owns 15,600 shares of the company’s stock worth $244,000 after acquiring an additional 3,100 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in ACRES Commercial Realty during the 3rd quarter worth approximately $177,000. Finally, Ritholtz Wealth Management boosted its stake in ACRES Commercial Realty by 23.0% during the 3rd quarter. Ritholtz Wealth Management now owns 25,769 shares of the company’s stock worth $404,000 after acquiring an additional 4,825 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

ACRES Commercial Realty Price Performance

Shares of ACR opened at $17.39 on Friday. The firm has a market capitalization of $134.55 million, a PE ratio of 20.70 and a beta of 2.07. The company’s 50-day moving average is $16.68 and its 200-day moving average is $15.55. ACRES Commercial Realty Corp. has a fifty-two week low of $9.47 and a fifty-two week high of $17.77. The company has a debt-to-equity ratio of 3.33, a current ratio of 73.84 and a quick ratio of 73.84.

Insider Buying and Selling

In related news, major shareholder Eagle Point Credit Management sold 2,388 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $25.20, for a total value of $60,177.60. Following the completion of the transaction, the insider now owns 426,358 shares in the company, valued at $10,744,221.60. This trade represents a 0.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have sold 65,487 shares of company stock valued at $1,613,375. 4.07% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, JMP Securities lifted their price target on shares of ACRES Commercial Realty from $16.50 to $17.50 and gave the company a “market outperform” rating in a research note on Wednesday, September 25th.

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.