Eagle Point Credit Management Sells 849 Shares of ACRES Commercial Realty (NYSE:ACR) Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 849 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $25.47, for a total transaction of $21,624.03. Following the completion of the sale, the insider owned 343,036 shares of the company’s stock, valued at approximately $8,737,126.92. The trade was a 0.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Thursday, June 11th, Eagle Point Credit Management sold 215 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.47, for a total transaction of $5,476.05.
• On Wednesday, June 10th, Eagle Point Credit Management sold 1,527 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.56, for a total transaction of $34,449.12.
• On Wednesday, June 3rd, Eagle Point Credit Management sold 422 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.55, for a total transaction of $9,516.10.
• On Monday, June 1st, Eagle Point Credit Management sold 5,806 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.41, for a total transaction of $147,530.46.
• On Wednesday, May 20th, Eagle Point Credit Management sold 404 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.50, for a total transaction of $9,090.00.
• On Monday, March 30th, Eagle Point Credit Management sold 1,095 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.12, for a total transaction of $24,221.40.
• On Monday, March 16th, Eagle Point Credit Management sold 2,954 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.07, for a total transaction of $65,194.78.

ACRES Commercial Realty Stock Up 0.2%

NYSE ACR opened at $18.06 on Friday. The company has a debt-to-equity ratio of 3.36, a quick ratio of 164.62 and a current ratio of 164.62. The firm has a 50-day simple moving average of $19.96 and a 200 day simple moving average of $20.15. ACRES Commercial Realty Corp. has a twelve month low of $17.06 and a twelve month high of $24.61. The stock has a market cap of $128.77 million, a PE ratio of 27.79 and a beta of 1.07.

ACRES Commercial Realty (NYSE:ACR) last released its earnings results on Thursday, April 30th. The company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02. The business had revenue of $17.82 million during the quarter, compared to analysts’ expectations of $20.55 million. ACRES Commercial Realty had a net margin of 37.20% and a return on equity of 5.61%. On average, research analysts forecast that ACRES Commercial Realty Corp. will post 0.15 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACR. Eagle Point Credit Management LLC bought a new position in ACRES Commercial Realty during the fourth quarter worth about $25,118,000. Oaktree Capital Management LP bought a new position in shares of ACRES Commercial Realty in the third quarter valued at approximately $8,282,000. Geode Capital Management LLC raised its stake in shares of 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. Raymond James Financial Inc. raised its stake in shares of ACRES Commercial Realty by 60.6% in the second quarter. Raymond James Financial Inc. now owns 78,150 shares of the company’s stock valued at $1,402,000 after acquiring an additional 29,503 shares during the last quarter. Finally, Jane Street Group LLC raised its stake in shares of ACRES Commercial Realty by 190.8% in the first quarter. Jane Street Group LLC now owns 38,434 shares of the company’s stock valued at $833,000 after acquiring an additional 25,216 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ACR shares. Wall Street Zen upgraded shares of ACRES Commercial Realty from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 18th. Weiss Ratings upgraded shares of ACRES Commercial Realty from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, ACRES Commercial Realty presently has a consensus rating of “Moderate Buy” 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.