ACRES Commercial Realty Corp. (NYSE:ACR – Get Free Report) major shareholder Eagle Point Credit Management sold 2,076 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $22.50, for a total value of $46,710.00. Following the completion of the sale, the insider directly owned 731,230 shares in the company, valued at approximately $16,452,675. The trade was a 0.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own more than 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 Monday, June 15th, Eagle Point Credit Management sold 5,981 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.37, for a total value of $145,756.97.
- On Friday, June 12th, Eagle Point Credit Management sold 849 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.47, for a total transaction of $21,624.03.
- On Thursday, June 11th, Eagle Point Credit Management sold 215 shares of ACRES Commercial Realty stock. The stock was 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 stock was 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.
ACRES Commercial Realty Stock Up 6.1%
Shares of NYSE ACR opened at $18.07 on Friday. The stock has a market capitalization of $128.80 million, a PE ratio of 27.79 and a beta of 1.07. The company has a quick ratio of 164.62, a current ratio of 164.62 and a debt-to-equity ratio of 3.36. The firm has a fifty day moving average of $19.51 and a 200-day moving average of $19.82. ACRES Commercial Realty Corp. has a 52-week low of $15.61 and a 52-week high of $24.61.
Analyst Ratings Changes
A number of brokerages have weighed in on ACR. Weiss Ratings raised shares of ACRES Commercial Realty from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Wall Street Zen raised shares of ACRES Commercial Realty from a “sell” rating to a “hold” rating in a research note on Saturday. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.50.
View Our Latest Stock Analysis on ACR
Hedge Funds Weigh In On ACRES Commercial Realty
Several hedge funds and other institutional investors have recently bought and sold shares of ACR. Cubist Systematic Strategies LLC purchased a new position in ACRES Commercial Realty in the 1st quarter worth approximately $133,000. Goldman Sachs Group Inc. acquired a new position in shares of ACRES Commercial Realty during the first quarter worth $488,000. Jane Street Group LLC boosted 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 purchasing an additional 25,216 shares during the period. Geode Capital Management LLC boosted 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 purchasing an additional 76,688 shares during the period. Finally, JPMorgan Chase & Co. acquired a new stake in ACRES Commercial Realty during the 2nd quarter valued at $52,000. 40.03% of the stock is owned by institutional investors and hedge funds.
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.
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