Eagle Point Credit Management Sells 2,140 Shares of ACRES Commercial Realty (NYSE:ACR) Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 2,140 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $24.08, for a total transaction of $51,531.20. Following the transaction, the insider directly owned 349,907 shares in the company, valued at approximately $8,425,760.56. The trade was a 0.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own 10% or more 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 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 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 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 shares were sold at an average price of $25.25, for a total transaction of $15,150.00.
• 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 value of $2,523.00.
• On Wednesday, February 18th, Eagle Point Credit Management sold 409 shares of ACRES Commercial Realty stock. The stock was 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 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 value 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 transaction of $114,972.00.

ACRES Commercial Realty Price Performance

NYSE ACR traded up $0.09 during mid-day trading on Wednesday, hitting $18.86. The stock had a trading volume of 13,113 shares, compared to its average volume of 20,602. The firm’s 50 day moving average is $19.61 and its 200 day moving average is $20.64. 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 stock has a market capitalization of $137.49 million, a price-to-earnings ratio of 19.65 and a beta of 1.19. ACRES Commercial Realty Corp. has a twelve month low of $16.51 and a twelve month high of $24.61.

ACRES Commercial Realty (NYSE:ACR) last posted its quarterly earnings results on Wednesday, March 4th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.42). The company had revenue of $20.03 million for the quarter, compared to analysts’ expectations of $20.58 million. ACRES Commercial Realty had a return on equity of 4.74% and a net margin of 35.16%. Equities research analysts forecast that ACRES Commercial Realty Corp. will post 0.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Wall Street Zen cut ACRES Commercial Realty from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings reiterated a “hold (c)” rating on shares of ACRES Commercial Realty in a report on Monday, December 29th. Finally, Zacks Research raised shares of ACRES Commercial Realty to a “hold” rating in a research report on Friday, December 19th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, ACRES Commercial Realty presently has a consensus rating of “Hold” and an average price target of $24.50.

Institutional Investors Weigh In On ACRES Commercial Realty

A number of large investors have recently made changes to their positions in the company. Eagle Point Credit Management LLC bought a new stake in shares of ACRES Commercial Realty in the 4th quarter valued at $25,118,000. Oaktree Capital Management LP bought a new stake in shares of ACRES Commercial Realty in the 3rd quarter valued at about $8,282,000. Vanguard Group Inc. lifted its holdings in ACRES Commercial Realty by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 383,696 shares of the company’s stock valued at $8,119,000 after purchasing an additional 11,465 shares during the last quarter. Acadian Asset Management LLC lifted its position in ACRES Commercial Realty by 16.8% during the second quarter. Acadian Asset Management LLC now owns 182,679 shares of the company’s stock worth $3,272,000 after acquiring an additional 26,226 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position 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 period. Institutional investors and hedge funds own 40.03% of the company’s stock.

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.