ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells $59,120.40 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 2,593 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $22.80, for a total transaction of $59,120.40. Following the sale, the insider owned 390,550 shares in the company, valued at $8,904,540. This trade represents a 0.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Thursday, November 13th, Eagle Point Credit Management sold 733 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.15, for a total transaction of $18,434.95.
• On Tuesday, November 11th, Eagle Point Credit Management sold 1,161 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.20, for a total transaction of $25,774.20.
• On Friday, November 7th, Eagle Point Credit Management sold 140 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.15, for a total transaction of $3,521.00.
• On Thursday, November 6th, Eagle Point Credit Management sold 200 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.15, for a total transaction of $5,030.00.
• On Wednesday, November 5th, Eagle Point Credit Management sold 3,637 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.30, for a total transaction of $81,105.10.
• On Tuesday, November 4th, Eagle Point Credit Management sold 352 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.17, for a total transaction of $7,803.84.
• On Friday, October 31st, Eagle Point Credit Management sold 2,089 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.19, for a total value of $52,621.91.
• On Wednesday, October 29th, Eagle Point Credit Management sold 772 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.10, for a total value of $17,061.20.
• On Tuesday, October 28th, Eagle Point Credit Management sold 200 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.07, for a total value of $4,414.00.
• On Tuesday, September 30th, Eagle Point Credit Management sold 2,500 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.68, for a total value of $56,700.00.

ACRES Commercial Realty Stock Up 0.2%

Shares of ACRES Commercial Realty stock opened at $21.51 on Friday. The business’s 50 day simple moving average is $20.68 and its 200 day simple moving average is $19.48. ACRES Commercial Realty Corp. has a 52-week low of $14.94 and a 52-week high of $23.81. The firm has a market cap of $156.69 million, a PE ratio of -1,074.71 and a beta of 1.77. The company has a debt-to-equity ratio of 3.01, a quick ratio of 69.53 and a current ratio of 69.53.

ACRES Commercial Realty declared that its Board of Directors has authorized a stock repurchase program on Wednesday, October 29th that allows the company to buyback $7.50 million in shares. This buyback authorization allows the company to purchase up to 5.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On ACRES Commercial Realty

Institutional investors have recently bought and sold shares of the business. Biltmore Family Office LLC lifted its position in shares of ACRES Commercial Realty by 6.6% in the first quarter. Biltmore Family Office LLC now owns 23,552 shares of the company’s stock valued at $510,000 after buying an additional 1,448 shares during the last quarter. Informed Momentum Co LLC acquired a new position in shares of ACRES Commercial Realty during the 1st quarter worth approximately $697,000. Cubist Systematic Strategies LLC bought a new stake in ACRES Commercial Realty in the 1st quarter valued at $133,000. Goldman Sachs Group Inc. bought a new stake in ACRES Commercial Realty in the 1st quarter valued at $488,000. Finally, Jane Street Group LLC lifted its holdings in ACRES Commercial Realty by 190.8% during the 1st quarter. Jane Street Group LLC now owns 38,434 shares of the company’s stock valued at $833,000 after purchasing an additional 25,216 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of ACRES Commercial Realty in a research report on Wednesday, October 8th. Citigroup reiterated an “outperform” rating on shares of ACRES Commercial Realty in a research note on Friday, October 31st. Citizens Jmp boosted their price target on shares of ACRES Commercial Realty from $23.50 to $24.50 and gave the stock a “market outperform” rating in a research report on Friday, October 31st. JMP Securities set a $24.50 price objective on shares of ACRES Commercial Realty in a research note on Friday, October 31st. Finally, Wall Street Zen raised ACRES Commercial Realty from a “strong sell” rating to a “hold” rating in a research report on Saturday, November 1st. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.50.

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.