Insider Selling: ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells $30,540.72 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 1,372 shares of ACRES Commercial Realty stock in a transaction on Monday, December 15th. The shares were sold at an average price of $22.26, for a total transaction of $30,540.72. Following the completion of the transaction, the insider owned 761,345 shares in the company, valued at approximately $16,947,539.70. This trade represents a 0.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 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 Friday, December 12th, Eagle Point Credit Management sold 114 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.26, for a total value of $2,537.64.
• On Thursday, December 11th, Eagle Point Credit Management sold 1,258 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $23.82, for a total value of $29,965.56.
• On Wednesday, December 10th, Eagle Point Credit Management sold 98 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.24, for a total value of $2,473.52.
• On Friday, December 5th, Eagle Point Credit Management sold 99 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.22, for a total value of $2,496.78.
• On Thursday, December 4th, Eagle Point Credit Management sold 48 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.22, for a total value of $1,210.56.
• On Monday, December 1st, Eagle Point Credit Management sold 5,054 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.20, for a total transaction of $127,360.80.
• On Friday, November 28th, Eagle Point Credit Management sold 913 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.19, for a total transaction of $22,998.47.
• On Monday, November 24th, Eagle Point Credit Management sold 723 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.19, for a total transaction of $18,212.37.
• On Monday, November 17th, Eagle Point Credit Management sold 718 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.17, for a total transaction of $18,072.06.
• On Thursday, November 13th, Eagle Point Credit Management sold 733 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.15, for a total transaction of $18,434.95.

ACRES Commercial Realty Trading Up 0.7%

Shares of ACR stock traded up $0.16 during mid-day trading on Wednesday, reaching $23.81. The company’s stock had a trading volume of 58,683 shares, compared to its average volume of 50,022. The company has a quick ratio of 104.99, a current ratio of 104.99 and a debt-to-equity ratio of 2.73. The firm has a market capitalization of $173.55 million, a PE ratio of 24.80 and a beta of 1.21. The company’s 50 day simple moving average is $21.25 and its 200-day simple moving average is $20.04. ACRES Commercial Realty Corp. has a 12-month low of $14.94 and a 12-month high of $24.45.

ACRES Commercial Realty declared that its board has approved a stock repurchase plan on Wednesday, October 29th that authorizes the company to repurchase $7.50 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ACR. Wall Street Zen raised ACRES Commercial Realty from a “strong sell” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings reissued a “hold (c)” rating on shares of ACRES Commercial Realty in a research report on Monday. JMP Securities set a $24.50 price target on ACRES Commercial Realty in a report on Friday, October 31st. Citizens Jmp lifted their price objective on shares of ACRES Commercial Realty from $23.50 to $24.50 and gave the company a “market outperform” rating in a research note on Friday, October 31st. Finally, Citigroup reissued an “outperform” rating on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, ACRES Commercial Realty presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.50.

Institutional Trading of ACRES Commercial Realty

A number of hedge funds have recently made changes to their positions in ACR. Acadian Asset Management LLC boosted its stake in ACRES Commercial Realty by 16.8% during the 2nd quarter. Acadian Asset Management LLC now owns 182,679 shares of the company’s stock valued at $3,272,000 after acquiring an additional 26,226 shares during the last quarter. Goldman Sachs Group Inc. bought a new stake in shares of ACRES Commercial Realty in the 1st quarter worth about $488,000. Gratia Capital LLC raised its stake in shares of ACRES Commercial Realty by 64.3% in the 2nd quarter. Gratia Capital LLC now owns 125,994 shares of the company’s stock valued at $2,260,000 after purchasing an additional 49,312 shares in the last quarter. Ritholtz Wealth Management lifted its position in shares of ACRES Commercial Realty by 12.0% during the second quarter. Ritholtz Wealth Management now owns 33,889 shares of the company’s stock worth $608,000 after purchasing an additional 3,618 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of ACRES Commercial Realty during the first quarter worth about $133,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

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.