ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells $11,107.74 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 499 shares of ACRES Commercial Realty stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $22.26, for a total value of $11,107.74. Following the completion of the transaction, the insider owned 760,846 shares of the company’s stock, valued at approximately $16,936,431.96. The trade was a 0.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 Wednesday, December 24th, Eagle Point Credit Management sold 455 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.30, for a total value of $10,146.50.
• On Monday, December 15th, Eagle Point Credit Management sold 1,372 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.26, for a total transaction of $30,540.72.
• On Friday, December 12th, Eagle Point Credit Management sold 114 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.26, for a total transaction of $2,537.64.
• On Thursday, December 11th, Eagle Point Credit Management sold 1,258 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $23.82, for a total value of $29,965.56.
• On Wednesday, December 10th, Eagle Point Credit Management sold 98 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.24, for a total value of $2,473.52.
• On Friday, December 5th, Eagle Point Credit Management sold 99 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.22, for a total value of $2,496.78.
• On Thursday, December 4th, Eagle Point Credit Management sold 48 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.22, for a total value of $1,210.56.
• On Monday, December 1st, Eagle Point Credit Management sold 5,054 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.20, for a total value of $127,360.80.
• On Friday, November 28th, Eagle Point Credit Management sold 913 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.19, for a total value of $22,998.47.
• 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 transaction of $18,212.37.

ACRES Commercial Realty Stock Performance

Shares of ACRES Commercial Realty stock traded down $0.18 during trading on Monday, hitting $21.47. 23,281 shares of the stock were exchanged, compared to its average volume of 35,981. The company has a debt-to-equity ratio of 2.73, a quick ratio of 104.99 and a current ratio of 104.99. ACRES Commercial Realty Corp. has a 12 month low of $15.64 and a 12 month high of $24.61. The stock’s fifty day moving average is $21.61 and its 200 day moving average is $20.28. The stock has a market cap of $156.52 million, a PE ratio of 22.36 and a beta of 1.21.

ACRES Commercial Realty declared that its Board of Directors has initiated a stock buyback program on Wednesday, October 29th that allows the company to buyback $7.50 million in shares. This buyback authorization allows the company to repurchase up to 5.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On ACRES Commercial Realty

Several large investors have recently modified their holdings of ACR. Acadian Asset Management LLC lifted its holdings in shares of ACRES Commercial Realty by 16.8% during the second quarter. Acadian Asset Management LLC now owns 182,679 shares of the company’s stock valued at $3,272,000 after purchasing an additional 26,226 shares during the last quarter. Goldman Sachs Group Inc. acquired a new stake in ACRES Commercial Realty during the 1st quarter worth about $488,000. Gratia Capital LLC boosted 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 period. Ritholtz Wealth Management increased its position in shares of ACRES Commercial Realty by 12.0% in the second quarter. Ritholtz Wealth Management now owns 33,889 shares of the company’s stock worth $608,000 after acquiring an additional 3,618 shares in the last quarter. Finally, Raymond James Financial Inc. increased its position in shares of ACRES Commercial Realty by 60.6% in the second quarter. Raymond James Financial Inc. now owns 78,150 shares of the company’s stock worth $1,402,000 after acquiring an additional 29,503 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on ACR. Citigroup reiterated an “outperform” rating on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Weiss Ratings restated a “hold (c)” rating on shares of ACRES Commercial Realty in a research note on Monday, December 22nd. JMP Securities set a $24.50 target price on shares of ACRES Commercial Realty in a research note on Friday, October 31st. 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. Finally, Wall Street Zen lowered shares of ACRES Commercial Realty from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $24.50.

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.