ACRES Commercial Realty (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 3,142 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 3,142 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $21.80, for a total transaction of $68,495.60. Following the transaction, the insider directly owned 741,977 shares in the company, valued at $16,175,098.60. The trade was a 0.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 Monday, March 2nd, Eagle Point Credit Management sold 2,140 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.08, for a total transaction of $51,531.20.
• On Thursday, February 26th, Eagle Point Credit Management sold 1,301 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.28, for a total value of $32,889.28.
• On Wednesday, February 25th, Eagle Point Credit Management sold 1,800 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.25, for a total transaction of $45,450.00.
• On Tuesday, February 24th, Eagle Point Credit Management sold 600 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.25, for a total value 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 value of $2,523.00.
• On Wednesday, February 18th, Eagle Point Credit Management sold 409 shares of ACRES Commercial Realty stock. The stock was 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 shares were 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 shares were 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 stock was 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 shares were sold at an average price of $22.11, for a total transaction of $114,972.00.

ACRES Commercial Realty Price Performance

Shares of ACRES Commercial Realty stock traded up $0.09 during trading on Wednesday, hitting $18.86. The stock had a trading volume of 13,113 shares, compared to its average volume of 20,602. The business has a fifty day moving average of $19.68 and a two-hundred day moving average of $20.65. The firm has a market cap of $137.49 million, a P/E ratio of 58.66 and a beta of 1.19. The company has a debt-to-equity ratio of 2.73, a current ratio of 104.99 and a quick ratio of 104.99. ACRES Commercial Realty Corp. has a fifty-two week low of $16.51 and a fifty-two week high of $24.61.

ACRES Commercial Realty (NYSE:ACR) last issued its earnings results on Wednesday, March 4th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.42). The company had revenue of $20.03 million during the quarter, compared to analyst estimates of $20.58 million. ACRES Commercial Realty had a return on equity of 4.74% and a net margin of 35.16%. On average, sell-side analysts expect that ACRES Commercial Realty Corp. will post 0.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ACRES Commercial Realty

A number of hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its stake in shares of ACRES Commercial Realty by 120.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company’s stock valued at $29,000 after purchasing an additional 739 shares in the last quarter. Barclays PLC increased its holdings in ACRES Commercial Realty by 10.8% in the fourth quarter. Barclays PLC now owns 9,610 shares of the company’s stock worth $205,000 after purchasing an additional 939 shares in the last quarter. Bank of America Corp DE lifted its position in shares of ACRES Commercial Realty by 110.4% during the 2nd quarter. Bank of America Corp DE now owns 3,671 shares of the company’s stock valued at $66,000 after acquiring an additional 1,926 shares during the period. Raymond James Financial Inc. boosted its position in shares of ACRES Commercial Realty by 2.5% during the 3rd quarter. Raymond James Financial Inc. now owns 80,129 shares of the company’s stock worth $1,696,000 after purchasing an additional 1,979 shares in the last quarter. Finally, Ritholtz Wealth Management grew its stake in ACRES Commercial Realty by 5.2% in the fourth quarter. Ritholtz Wealth Management now owns 42,300 shares of the company’s stock valued at $903,000 after acquiring an additional 2,101 shares during the period. 40.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

ACR has been the topic of a number of research reports. Zacks Research raised shares of ACRES Commercial Realty to a “hold” rating in a research report on Friday, December 19th. Weiss Ratings restated a “hold (c)” rating on shares of ACRES Commercial Realty in a research note on Monday, December 29th. Finally, Wall Street Zen cut shares of ACRES Commercial Realty from a “hold” rating to a “sell” rating in a research note on Saturday. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.