ACRES Commercial Realty (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 10,062 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 10,062 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $22.57, for a total transaction of $227,099.34. Following the completion of the sale, the insider owned 776,433 shares of the company’s stock, valued at approximately $17,524,092.81. The trade was a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Eagle Point Credit Management also recently made the following trade(s):

• On Monday, September 15th, Eagle Point Credit Management sold 389 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.57, for a total transaction of $8,779.73.
• On Friday, September 12th, Eagle Point Credit Management sold 310 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.57, for a total transaction of $6,996.70.
• On Thursday, September 11th, Eagle Point Credit Management sold 5,945 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.52, for a total transaction of $133,881.40.
• On Wednesday, September 10th, Eagle Point Credit Management sold 3,142 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.48, for a total transaction of $70,632.16.
• On Tuesday, September 9th, Eagle Point Credit Management sold 1,643 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.43, for a total transaction of $36,852.49.
• On Monday, September 8th, Eagle Point Credit Management sold 2,188 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.43, for a total transaction of $49,076.84.
• On Friday, September 5th, Eagle Point Credit Management sold 90 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.40, for a total transaction of $2,016.00.
• On Thursday, September 4th, Eagle Point Credit Management sold 910 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.35, for a total transaction of $20,338.50.
• On Tuesday, September 2nd, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.35, for a total transaction of $2,235.00.
• On Friday, August 29th, Eagle Point Credit Management sold 658 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.52, for a total transaction of $14,818.16.

ACRES Commercial Realty Trading Up 1.9%

Shares of ACR stock opened at $21.10 on Friday. ACRES Commercial Realty Corp. has a 1 year low of $14.87 and a 1 year high of $23.81. The firm’s fifty day simple moving average is $19.85 and its 200 day simple moving average is $19.30. The firm has a market capitalization of $156.77 million, a P/E ratio of -1,054.47 and a beta of 1.82. The company has a current ratio of 69.53, a quick ratio of 69.53 and a debt-to-equity ratio of 3.01.

Institutional Investors Weigh In On ACRES Commercial Realty

Several hedge funds have recently added to or reduced their stakes in ACR. JPMorgan Chase & Co. bought a new position in shares of ACRES Commercial Realty in the second quarter worth $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in ACRES Commercial Realty in the second quarter valued at about $60,000. Bank of America Corp DE grew its position in ACRES Commercial Realty by 110.4% in the second quarter. Bank of America Corp DE now owns 3,671 shares of the company’s stock valued at $66,000 after acquiring an additional 1,926 shares during the last quarter. Russell Investments Group Ltd. bought a new position in ACRES Commercial Realty in the second quarter valued at about $93,000. Finally, New York State Common Retirement Fund bought a new position in ACRES Commercial Realty in the second quarter valued at about $106,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

Separately, JMP Securities upped their price target on shares of ACRES Commercial Realty from $22.00 to $23.50 and gave the stock a “market outperform” rating in a research report on Thursday, September 11th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.50.

About ACRES Commercial Realty

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.