ACRES Commercial Realty (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 600 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 600 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $25.25, for a total value of $15,150.00. Following the sale, the insider owned 354,448 shares in the company, valued at approximately $8,949,812. This represents a 0.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 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 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 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 Thursday, February 19th, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The stock was 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 transaction 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 transaction 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 transaction 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 value of $114,972.00.
• On Friday, January 30th, Eagle Point Credit Management sold 4,780 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $23.89, for a total value 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 value of $1,171.30.

ACRES Commercial Realty Price Performance

Shares of NYSE:ACR traded up $0.03 on Thursday, hitting $18.70. The company’s stock had a trading volume of 8,930 shares, compared to its average volume of 23,241. The company has a market capitalization of $136.32 million, a PE ratio of 19.48 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. The company has a 50-day simple moving average of $19.95 and a 200 day simple moving average of $20.67. ACRES Commercial Realty Corp. has a 1 year low of $16.51 and a 1 year high of $24.61.

ACRES Commercial Realty announced that its Board of Directors has authorized a share repurchase 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 usually a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of ACRES Commercial Realty

Several institutional investors have recently added to or reduced their stakes in ACR. BNP Paribas Financial Markets grew its stake in shares of ACRES Commercial Realty by 120.2% during the third quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company’s stock valued at $29,000 after buying an additional 739 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in ACRES Commercial Realty during the 2nd quarter valued at about $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in ACRES Commercial Realty during the 2nd quarter worth approximately $60,000. Bank of America Corp DE grew its position in 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 worth $66,000 after acquiring an additional 1,926 shares during the last quarter. Finally, MetLife Investment Management LLC purchased a new position in ACRES Commercial Realty in the 4th quarter worth approximately $76,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ACR. Wall Street Zen raised shares of ACRES Commercial Realty from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Citigroup restated an “outperform” rating on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Citizens Jmp set a $24.50 price objective on ACRES Commercial Realty in a report on Friday, October 31st. Zacks Research upgraded ACRES Commercial Realty to a “hold” rating in a research report on Friday, December 19th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of ACRES Commercial Realty in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, ACRES Commercial Realty 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.