ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells $34,449.12 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 1,527 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $22.56, for a total transaction of $34,449.12. Following the sale, the insider owned 344,100 shares in the company, valued at approximately $7,762,896. This trade represents a 0.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• 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 3rd, Eagle Point Credit Management sold 422 shares of ACRES Commercial Realty stock. The stock was 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 stock was 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 stock was sold at an average price of $22.12, for a total transaction of $24,221.40.
• On Monday, March 16th, Eagle Point Credit Management sold 2,954 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.07, for a total transaction of $65,194.78.

ACRES Commercial Realty Stock Up 0.4%

Shares of NYSE ACR opened at $18.06 on Monday. ACRES Commercial Realty Corp. has a 1 year low of $17.06 and a 1 year high of $24.61. The firm’s 50 day moving average price is $19.96 and its 200 day moving average price is $20.14. The firm has a market cap of $128.77 million, a P/E ratio of 27.79 and a beta of 1.07. The company has a debt-to-equity ratio of 3.36, a quick ratio of 164.62 and a current ratio of 164.62.

ACRES Commercial Realty (NYSE:ACR) last announced its earnings results on Thursday, April 30th. The company reported $0.02 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.02. ACRES Commercial Realty had a net margin of 37.20% and a return on equity of 5.61%. The firm had revenue of $17.82 million for the quarter, compared to analyst estimates of $20.55 million. As a group, sell-side analysts anticipate that ACRES Commercial Realty Corp. will post 0.15 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms 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 note on Monday, May 11th. Wall Street Zen raised shares of ACRES Commercial Realty from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 18th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.50.

Institutional Investors Weigh In On ACRES Commercial Realty

A number of large investors have recently added to or reduced their stakes in ACR. Cubist Systematic Strategies LLC acquired a new stake in ACRES Commercial Realty during the 1st quarter valued at $133,000. Goldman Sachs Group Inc. acquired a new stake in ACRES Commercial Realty during the 1st quarter valued at $488,000. Jane Street Group LLC grew its holdings in ACRES Commercial Realty by 190.8% during the 1st 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 in the last quarter. Geode Capital Management LLC grew its holdings in ACRES Commercial Realty by 125.1% during the 2nd 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 in the last quarter. 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.

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.