Oaktree Capital Management LP Takes $8.28 Million Position in ACRES Commercial Realty Corp. $ACR

Oaktree Capital Management LP bought a new stake in shares of ACRES Commercial Realty Corp. (NYSE:ACR) during the 3rd quarter, HoldingsChannel reports. The firm bought 391,380 shares of the company’s stock, valued at approximately $8,282,000. Oaktree Capital Management LP owned approximately 0.05% of ACRES Commercial Realty as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its holdings in ACRES Commercial Realty by 120.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company’s stock worth $29,000 after acquiring an additional 739 shares during the period. Russell Investments Group Ltd. raised its stake in shares of ACRES Commercial Realty by 68.3% during the third quarter. Russell Investments Group Ltd. now owns 8,835 shares of the company’s stock valued at $186,000 after purchasing an additional 3,587 shares during the period. Vanguard Group Inc. raised its stake in shares of ACRES Commercial Realty by 3.1% during the third quarter. Vanguard Group Inc. now owns 383,696 shares of the company’s stock valued at $8,119,000 after purchasing an additional 11,465 shares during the period. JPMorgan Chase & Co. lifted its position in shares of ACRES Commercial Realty by 177.8% during the third quarter. JPMorgan Chase & Co. now owns 8,082 shares of the company’s stock worth $171,000 after purchasing an additional 5,173 shares in the last quarter. Finally, Bailard Inc. acquired a new position in shares of ACRES Commercial Realty during the third quarter worth $387,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ACRES Commercial Realty

In other ACRES Commercial Realty news, major shareholder Eagle Point Credit Management sold 3,142 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $21.80, for a total transaction of $68,495.60. Following the transaction, the insider owned 741,977 shares of the company’s stock, valued at $16,175,098.60. This trade represents a 0.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 52,344 shares of company stock worth $1,249,355 in the last 90 days. Corporate insiders own 3.92% of the company’s stock.

ACRES Commercial Realty Stock Down 0.1%

Shares of ACR traded down $0.03 during midday trading on Friday, hitting $19.01. The company had a trading volume of 1,066 shares, compared to its average volume of 21,555. The company has a quick ratio of 104.99, a current ratio of 135.18 and a debt-to-equity ratio of 2.81. ACRES Commercial Realty Corp. has a 52 week low of $16.51 and a 52 week high of $24.61. The company’s 50 day moving average price is $19.31 and its 200 day moving average price is $20.58. The stock has a market cap of $138.55 million, a price-to-earnings ratio of 1,902.40 and a beta of 1.19.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ACR shares. Weiss Ratings lowered shares of ACRES Commercial Realty from a “hold (c)” rating to a “sell (d+)” rating in a report on Wednesday. Wall Street Zen lowered shares of ACRES Commercial Realty from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Finally, Zacks Research upgraded ACRES Commercial Realty to a “hold” rating in a research note on Friday, December 19th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $24.50.

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.