Eagle Point Credit Management Sells 2,954 Shares of ACRES Commercial Realty (NYSE:ACR) Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 2,954 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $22.07, for a total transaction of $65,194.78. Following the completion of the transaction, the insider directly owned 739,023 shares of the company’s stock, valued at $16,310,237.61. This represents a 0.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Tuesday, March 3rd, Eagle Point Credit Management sold 3,142 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $21.80, for a total value of $68,495.60.
• On Monday, March 2nd, Eagle Point Credit Management sold 2,140 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.08, for a total value of $51,531.20.
• 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 value of $32,889.28.
• On Wednesday, February 25th, Eagle Point Credit Management sold 1,800 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.25, for a total value 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 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 transaction 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 transaction of $1,098.58.

ACRES Commercial Realty Price Performance

Shares of ACR opened at $18.89 on Friday. The firm has a market capitalization of $134.69 million, a price-to-earnings ratio of 1,890.89 and a beta of 1.19. The firm’s fifty day simple moving average is $19.17 and its 200-day simple moving average is $20.52. ACRES Commercial Realty Corp. has a twelve month low of $16.51 and a twelve month high of $24.61. The company has a current ratio of 135.18, a quick ratio of 135.18 and a debt-to-equity ratio of 2.81.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ACR shares. Zacks Research raised ACRES Commercial Realty to a “hold” rating in a research report on Friday, December 19th. Weiss Ratings cut shares of ACRES Commercial Realty from a “hold (c)” rating to a “sell (d+)” rating in a report on Wednesday, March 11th. Finally, Wall Street Zen downgraded shares of ACRES Commercial Realty from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, ACRES Commercial Realty currently has an average rating of “Hold” and an average target price of $24.50.

Institutional Trading of ACRES Commercial Realty

Several institutional investors and hedge funds have recently made changes to their positions in ACR. Royal Bank of Canada grew its stake in ACRES Commercial Realty by 524.2% during the 4th quarter. Royal Bank of Canada now owns 5,349 shares of the company’s stock worth $114,000 after buying an additional 4,492 shares during the last quarter. Barclays PLC boosted its holdings in shares of ACRES Commercial Realty by 10.8% in the fourth quarter. Barclays PLC now owns 9,610 shares of the company’s stock valued at $205,000 after acquiring an additional 939 shares during the period. State Street Corp grew its position in shares of ACRES Commercial Realty by 8.5% during the fourth quarter. State Street Corp now owns 86,053 shares of the company’s stock worth $1,836,000 after acquiring an additional 6,713 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of ACRES Commercial Realty by 49.6% in the 4th quarter. Wells Fargo & Company MN now owns 6,883 shares of the company’s stock valued at $147,000 after acquiring an additional 2,281 shares during the period. Finally, MetLife Investment Management LLC purchased a new stake in ACRES Commercial Realty in the 4th quarter valued at $76,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

About ACRES Commercial Realty

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.