ACRES Commercial Realty (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 499 Shares of Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 499 shares of the firm’s stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $22.26, for a total value of $11,107.74. Following the completion of the sale, the insider directly owned 760,846 shares in the company, valued at approximately $16,936,431.96. The trade was a 0.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, December 24th, Eagle Point Credit Management sold 455 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.30, for a total value of $10,146.50.
• On Monday, December 15th, Eagle Point Credit Management sold 1,372 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.26, for a total transaction of $30,540.72.
• On Friday, December 12th, Eagle Point Credit Management sold 114 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.26, for a total transaction 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 transaction 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 transaction of $2,473.52.
• On Friday, December 5th, Eagle Point Credit Management sold 99 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.22, for a total transaction 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 transaction of $1,210.56.
• On Monday, December 1st, Eagle Point Credit Management sold 5,054 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.20, for a total value of $127,360.80.
• On Friday, November 28th, Eagle Point Credit Management sold 913 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.19, for a total value 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 value of $18,212.37.

ACRES Commercial Realty Stock Performance

Shares of NYSE ACR opened at $21.47 on Tuesday. The stock’s 50-day moving average is $21.65 and its 200 day moving average is $20.31. The stock has a market cap of $156.52 million, a price-to-earnings ratio of 22.36 and a beta of 1.21. ACRES Commercial Realty Corp. has a 1-year low of $15.64 and a 1-year high of $24.61. The company has a current ratio of 104.99, a quick ratio of 104.99 and a debt-to-equity ratio of 2.73.

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

Hedge Funds Weigh In On ACRES Commercial Realty

Several hedge funds and other institutional investors have recently modified their holdings of ACR. Oaktree Capital Management LP bought a new stake in shares of ACRES Commercial Realty in the third quarter worth about $8,282,000. Vanguard Group Inc. raised its position in ACRES Commercial Realty by 3.1% during the 3rd 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 last quarter. Acadian Asset Management LLC lifted its holdings in ACRES Commercial Realty by 16.8% in the 2nd quarter. Acadian Asset Management LLC now owns 182,679 shares of the company’s stock worth $3,272,000 after buying an additional 26,226 shares during the period. Geode Capital Management LLC grew its position in shares of ACRES Commercial Realty by 125.1% in the 2nd quarter. Geode Capital Management LLC now owns 137,996 shares of the company’s stock worth $2,476,000 after buying an additional 76,688 shares during the last quarter. Finally, Gratia Capital LLC increased its stake in shares of ACRES Commercial Realty by 64.3% during the second quarter. Gratia Capital LLC now owns 125,994 shares of the company’s stock valued at $2,260,000 after buying an additional 49,312 shares during the period. 40.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

ACR has been the topic of several recent research reports. Citigroup reaffirmed an “outperform” rating on shares of ACRES Commercial Realty in a report on Friday, October 31st. Zacks Research upgraded shares of ACRES Commercial Realty to a “hold” rating in a research report on Friday, December 19th. Wall Street Zen downgraded ACRES Commercial Realty from a “hold” rating to a “sell” rating in a report on Saturday, December 20th. Weiss Ratings reissued a “hold (c)” rating on shares of ACRES Commercial Realty in a research note on Monday, December 22nd. Finally, Citizens Jmp increased their target price on ACRES Commercial Realty from $23.50 to $24.50 and gave the company a “market outperform” rating in a report on Friday, October 31st. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, ACRES Commercial Realty currently has an average rating of “Moderate Buy” and a consensus target price 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.