ACRES Commercial Realty (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 692 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 692 shares of the stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $22.07, for a total value of $15,272.44. Following the completion of the sale, the insider directly owned 754,699 shares in the company, valued at $16,656,206.93. This represents a 0.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 Friday, January 23rd, Eagle Point Credit Management sold 1,100 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.02, for a total value of $24,222.00.
• On Wednesday, January 14th, Eagle Point Credit Management sold 5,400 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.99, for a total transaction of $134,946.00.
• On Friday, January 9th, Eagle Point Credit Management sold 3,702 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.89, for a total transaction of $92,142.78.
• On Tuesday, January 13th, Eagle Point Credit Management sold 13,979 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.93, for a total transaction of $348,496.47.
• On Wednesday, December 31st, Eagle Point Credit Management sold 5,000 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.41, for a total value of $112,050.00.
• 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 Tuesday, December 23rd, Eagle Point Credit Management sold 499 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.26, for a total value of $11,107.74.
• 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 stock was 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 shares were sold at an average price of $23.82, for a total transaction of $29,965.56.

ACRES Commercial Realty Stock Down 0.9%

Shares of NYSE ACR traded down $0.17 during mid-day trading on Friday, reaching $19.96. The company had a trading volume of 37,344 shares, compared to its average volume of 16,910. The firm has a 50 day simple moving average of $21.62 and a two-hundred day simple moving average of $20.62. ACRES Commercial Realty Corp. has a 52-week low of $15.64 and a 52-week 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. The stock has a market cap of $145.49 million, a P/E ratio of 20.79 and a beta of 1.19.

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

Wall Street Analysts Forecast Growth

ACR has been the subject of several research reports. Citizens Jmp boosted 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. Weiss Ratings reiterated a “hold (c)” rating on shares of ACRES Commercial Realty in a research note on Monday, December 29th. Citigroup reissued an “outperform” rating on shares of ACRES Commercial Realty in a report on Friday, October 31st. Wall Street Zen raised shares of ACRES Commercial Realty from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Finally, Zacks Research upgraded shares of ACRES Commercial Realty to a “hold” rating in a research report on Friday, December 19th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, ACRES Commercial Realty has an average rating of “Moderate Buy” and a consensus target price of $24.50.

Hedge Funds Weigh In On ACRES Commercial Realty

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ritholtz Wealth Management lifted its holdings in shares of ACRES Commercial Realty by 5.2% in the 4th quarter. Ritholtz Wealth Management now owns 42,300 shares of the company’s stock valued at $903,000 after buying an additional 2,101 shares during the period. JPMorgan Chase & Co. grew its holdings in ACRES Commercial Realty by 177.8% during the third quarter. JPMorgan Chase & Co. now owns 8,082 shares of the company’s stock worth $171,000 after acquiring an additional 5,173 shares during the period. Raymond James Financial Inc. raised its position in ACRES Commercial Realty by 2.5% in the third quarter. Raymond James Financial Inc. now owns 80,129 shares of the company’s stock worth $1,696,000 after acquiring an additional 1,979 shares in the last quarter. Oaktree Capital Management LP acquired a new stake in ACRES Commercial Realty in the third quarter valued at $8,282,000. Finally, BNP Paribas Financial Markets boosted its position in shares of ACRES Commercial Realty by 120.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company’s stock worth $29,000 after purchasing an additional 739 shares in the last quarter. 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.