Insider Selling: ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells 1,800 Shares of Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 1,800 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $25.25, for a total value of $45,450.00. Following the completion of the sale, the insider owned 352,648 shares in the company, valued at approximately $8,904,362. This represents a 0.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Large 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 Thursday, February 26th, Eagle Point Credit Management sold 1,301 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.28, for a total transaction of $32,889.28.
• On Tuesday, February 24th, Eagle Point Credit Management sold 600 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.25, for a total transaction of $15,150.00.
• On Thursday, February 19th, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.23, for a total transaction of $2,523.00.
• On Wednesday, February 18th, Eagle Point Credit Management sold 409 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.20, for a total value of $10,306.80.
• On Tuesday, February 17th, Eagle Point Credit Management sold 273 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.20, for a total value of $6,060.60.
• On Wednesday, February 4th, Eagle Point Credit Management sold 97 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.12, for a total value of $2,145.64.
• On Tuesday, February 3rd, Eagle Point Credit Management sold 49 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.42, for a total value of $1,098.58.
• On Monday, February 2nd, Eagle Point Credit Management sold 5,200 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.11, for a total value of $114,972.00.
• On Friday, January 30th, Eagle Point Credit Management sold 4,780 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $23.89, for a total transaction of $114,194.20.
• On Thursday, January 29th, Eagle Point Credit Management sold 53 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.10, for a total transaction of $1,171.30.

ACRES Commercial Realty Price Performance

ACR traded up $0.03 during midday trading on Thursday, hitting $18.70. 8,930 shares of the company traded hands, compared to its average volume of 23,241. The business has a 50 day simple moving average of $19.95 and a two-hundred day simple moving average of $20.67. ACRES Commercial Realty Corp. has a 52-week low of $16.51 and a 52-week high of $24.61. The company has a market capitalization of $136.32 million, a price-to-earnings ratio of 19.48 and a beta of 1.19. 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 of Directors has authorized a share buyback 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 generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Zacks Research upgraded ACRES Commercial Realty to a “hold” rating in a research report on Friday, December 19th. Citizens Jmp set a $24.50 price objective on ACRES Commercial Realty in a research note on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ACRES Commercial Realty in a research note on Monday, December 29th. Citigroup reaffirmed an “outperform” rating on shares of ACRES Commercial Realty in a report on Friday, October 31st. Finally, Wall Street Zen raised shares of ACRES Commercial Realty from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, ACRES Commercial Realty has a consensus rating of “Hold” and an average price target of $24.50.

Institutional Investors Weigh In On ACRES Commercial Realty

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC purchased a new position in ACRES Commercial Realty during the first quarter worth about $133,000. Goldman Sachs Group Inc. acquired a new stake in shares of ACRES Commercial Realty during the 1st quarter worth approximately $488,000. Jane Street Group LLC raised its position in shares of 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 buying an additional 25,216 shares during the period. Acadian Asset Management LLC lifted its holdings in ACRES Commercial Realty by 16.8% in the second 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. Finally, Geode Capital Management LLC lifted its holdings in ACRES Commercial Realty by 125.1% in the second quarter. Geode Capital Management LLC now owns 137,996 shares of the company’s stock valued at $2,476,000 after acquiring an additional 76,688 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

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.