Geode Capital Management LLC Sells 11,455 Shares of ACRES Commercial Realty Corp. (NYSE:ACR)

Geode Capital Management LLC lowered its holdings in ACRES Commercial Realty Corp. (NYSE:ACR) by 15.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 61,346 shares of the company’s stock after selling 11,455 shares during the quarter. Geode Capital Management LLC’s holdings in ACRES Commercial Realty were worth $961,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ACR. Ritholtz Wealth Management grew its position in ACRES Commercial Realty by 23.0% in the 3rd quarter. Ritholtz Wealth Management now owns 25,769 shares of the company’s stock valued at $404,000 after purchasing an additional 4,825 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in ACRES Commercial Realty in the 3rd quarter valued at $177,000. Biltmore Family Office LLC grew its position in ACRES Commercial Realty by 24.8% in the 3rd quarter. Biltmore Family Office LLC now owns 15,600 shares of the company’s stock valued at $244,000 after purchasing an additional 3,100 shares during the period. Finally, Barclays PLC boosted its holdings 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. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Eagle Point Credit Management sold 4,200 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $24.86, for a total value of $104,412.00. Following the sale, the insider now directly owns 502,795 shares in the company, valued at approximately $12,499,483.70. The trade was a 0.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 65,487 shares of company stock valued at $1,613,375. 4.07% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

ACRES Commercial Realty Price Performance

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

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.