11,293 Shares in ACRES Commercial Realty Corp. (NYSE:ACR) Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in ACRES Commercial Realty Corp. (NYSE:ACR) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 11,293 shares of the company’s stock, valued at approximately $177,000.

Separately, Ritholtz Wealth Management raised its position in shares of ACRES Commercial Realty by 23.0% during the 3rd quarter. Ritholtz Wealth Management now owns 25,769 shares of the company’s stock valued at $404,000 after buying an additional 4,825 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity at ACRES Commercial Realty

In related news, major shareholder Eagle Point Credit Management sold 10,601 shares of ACRES Commercial Realty stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $23.38, for a total transaction of $247,851.38. Following the completion of the transaction, the insider now directly owns 499,391 shares of the company’s stock, valued at $11,675,761.58. This trade represents a 2.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 96,649 shares of company stock worth $2,357,930 over the last quarter. 4.07% of the stock is owned by corporate insiders.

ACRES Commercial Realty Price Performance

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

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.