Insider Selling: ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells 913 Shares of Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 913 shares of the firm’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $25.19, for a total transaction of $22,998.47. Following the completion of the sale, the insider owned 387,463 shares in the company, valued at $9,760,192.97. This represents a 0.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Monday, December 1st, Eagle Point Credit Management sold 5,054 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.20, for a total value of $127,360.80.
• On Monday, November 24th, Eagle Point Credit Management sold 723 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.19, for a total value of $18,212.37.
• On Monday, November 17th, Eagle Point Credit Management sold 718 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.17, for a total value of $18,072.06.
• On Thursday, November 13th, Eagle Point Credit Management sold 733 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.15, for a total value of $18,434.95.
• On Wednesday, November 12th, Eagle Point Credit Management sold 2,593 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.80, for a total value of $59,120.40.
• On Tuesday, November 11th, Eagle Point Credit Management sold 1,161 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.20, for a total value of $25,774.20.
• On Friday, November 7th, Eagle Point Credit Management sold 140 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.15, for a total value of $3,521.00.
• On Thursday, November 6th, Eagle Point Credit Management sold 200 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.15, for a total transaction of $5,030.00.
• On Wednesday, November 5th, Eagle Point Credit Management sold 3,637 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.30, for a total transaction of $81,105.10.
• On Tuesday, November 4th, Eagle Point Credit Management sold 352 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.17, for a total transaction of $7,803.84.

ACRES Commercial Realty Trading Down 2.1%

NYSE ACR traded down $0.44 on Tuesday, hitting $20.63. The company’s stock had a trading volume of 12,165 shares, compared to its average volume of 39,424. The company’s 50-day moving average is $20.68 and its 200 day moving average is $19.66. The firm has a market cap of $150.39 million, a PE ratio of 21.49 and a beta of 1.21. ACRES Commercial Realty Corp. has a 1-year low of $14.94 and a 1-year high of $23.81. The company has a quick ratio of 104.99, a current ratio of 104.99 and a debt-to-equity ratio of 2.73.

ACRES Commercial Realty announced that its board has authorized a share buyback plan on Wednesday, October 29th that authorizes the company to repurchase $7.50 million in shares. This repurchase authorization authorizes the company to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have commented on the company. JMP Securities set a $24.50 target price on ACRES Commercial Realty in a report on Friday, October 31st. Wall Street Zen raised ACRES Commercial Realty from a “strong sell” rating to a “hold” rating in a research note on Saturday, November 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of ACRES Commercial Realty in a report on Monday. Citigroup restated an “outperform” rating on shares of ACRES Commercial Realty in a report on Friday, October 31st. Finally, Citizens Jmp boosted their price target on shares of ACRES Commercial Realty from $23.50 to $24.50 and gave the stock a “market outperform” rating in a research report on Friday, October 31st. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.50.

Institutional Investors Weigh In On ACRES Commercial Realty

Several large investors have recently added to or reduced their stakes in ACR. Oaktree Capital Management LP bought a new stake in ACRES Commercial Realty in the third quarter worth approximately $8,282,000. Geode Capital Management LLC grew its position in shares of ACRES Commercial Realty by 125.1% during the 2nd quarter. Geode Capital Management LLC now owns 137,996 shares of the company’s stock worth $2,476,000 after buying an additional 76,688 shares during the period. Gratia Capital LLC increased its stake in shares of ACRES Commercial Realty by 64.3% in the 2nd quarter. Gratia Capital LLC now owns 125,994 shares of the company’s stock valued at $2,260,000 after acquiring an additional 49,312 shares in the last quarter. Informed Momentum Co LLC bought a new stake in shares of ACRES Commercial Realty in the 1st quarter valued at $697,000. Finally, Raymond James Financial Inc. lifted its position in shares of ACRES Commercial Realty by 60.6% during the 2nd quarter. Raymond James Financial Inc. now owns 78,150 shares of the company’s stock valued at $1,402,000 after acquiring an additional 29,503 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.