ACRES Commercial Realty (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 4,780 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 4,780 shares of the stock in a transaction on Friday, January 30th. The stock was sold at an average price of $23.89, for a total value of $114,194.20. Following the completion of the sale, the insider owned 355,562 shares in the company, valued at approximately $8,494,376.18. The trade was a 1.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Large 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 Thursday, January 29th, Eagle Point Credit Management sold 53 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.10, for a total transaction of $1,171.30.
• On Wednesday, January 28th, Eagle Point Credit Management sold 201 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.10, for a total transaction of $4,442.10.
• On Friday, January 23rd, Eagle Point Credit Management sold 1,100 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.02, for a total transaction of $24,222.00.
• On Wednesday, January 21st, Eagle Point Credit Management sold 692 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.07, for a total transaction of $15,272.44.
• On Wednesday, January 14th, Eagle Point Credit Management sold 5,400 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.99, for a total transaction of $134,946.00.
• On Friday, January 9th, Eagle Point Credit Management sold 3,702 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.89, for a total transaction of $92,142.78.
• On Tuesday, January 13th, Eagle Point Credit Management sold 13,979 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.93, for a total transaction of $348,496.47.
• On Wednesday, December 31st, Eagle Point Credit Management sold 5,000 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.41, for a total transaction of $112,050.00.
• On Wednesday, December 24th, Eagle Point Credit Management sold 455 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.30, for a total value of $10,146.50.
• On Tuesday, December 23rd, Eagle Point Credit Management sold 499 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.26, for a total value of $11,107.74.

ACRES Commercial Realty Price Performance

Shares of ACR stock opened at $19.23 on Friday. 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 104.99, a quick ratio of 104.99 and a debt-to-equity ratio of 2.73. The stock has a fifty day simple moving average of $21.44 and a two-hundred day simple moving average of $20.68. The stock has a market capitalization of $140.09 million, a price-to-earnings ratio of 20.03 and a beta of 1.19.

ACRES Commercial Realty announced that its board has authorized a share buyback program on Wednesday, October 29th that allows the company to repurchase $7.50 million in shares. This repurchase authorization allows the company to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On ACRES Commercial Realty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC boosted its stake in ACRES Commercial Realty by 16.8% in the 2nd quarter. Acadian Asset Management LLC now owns 182,679 shares of the company’s stock worth $3,272,000 after purchasing an additional 26,226 shares in the last quarter. Gratia Capital LLC raised its holdings in shares of ACRES Commercial Realty by 64.3% in the second quarter. Gratia Capital LLC now owns 125,994 shares of the company’s stock worth $2,260,000 after buying an additional 49,312 shares during the last quarter. Ritholtz Wealth Management lifted its stake in shares of ACRES Commercial Realty by 12.0% during the second quarter. Ritholtz Wealth Management now owns 33,889 shares of the company’s stock worth $608,000 after buying an additional 3,618 shares during the period. JPMorgan Chase & Co. purchased a new stake in shares of ACRES Commercial Realty during the second quarter valued at $52,000. Finally, Jane Street Group LLC grew its holdings in shares of ACRES Commercial Realty by 190.8% during the first quarter. Jane Street Group LLC now owns 38,434 shares of the company’s stock valued at $833,000 after buying an additional 25,216 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. JMP Securities set a $24.50 price target on shares of ACRES Commercial Realty in a report on Friday, October 31st. Citizens Jmp boosted their price objective on shares of ACRES Commercial Realty from $23.50 to $24.50 and gave the stock a “market outperform” rating in a research note on Friday, October 31st. Citigroup restated an “outperform” rating on shares of ACRES Commercial Realty in a report on Friday, October 31st. Wall Street Zen raised ACRES Commercial Realty from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ACRES Commercial Realty in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.