ACRES Commercial Realty (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 13,979 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 13,979 shares of the stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $24.93, for a total transaction of $348,496.47. Following the sale, the insider directly owned 363,830 shares of the company’s stock, valued at $9,070,281.90. This represents a 3.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 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 shares were sold at an average price of $22.30, for a total transaction 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.
• On Monday, December 15th, Eagle Point Credit Management sold 1,372 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.26, for a total value 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 value 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 transaction 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 transaction 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 transaction 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 transaction of $1,210.56.
• 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 transaction of $127,360.80.

ACRES Commercial Realty Stock Down 1.8%

Shares of ACR traded down $0.37 during trading hours on Tuesday, hitting $20.04. The stock had a trading volume of 17,080 shares, compared to its average volume of 20,673. ACRES Commercial Realty Corp. has a 1-year low of $15.64 and a 1-year high of $24.61. The firm has a market capitalization of $146.06 million, a P/E ratio of 20.87 and a beta of 1.19. The firm has a 50 day simple moving average of $21.84 and a 200-day simple moving average of $20.53. The company has a debt-to-equity ratio of 2.73, a current ratio of 104.99 and a quick ratio of 104.99.

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

Institutional Investors Weigh In On ACRES Commercial Realty

A number of hedge funds have recently modified their holdings of the stock. Oaktree Capital Management LP bought a new position in ACRES Commercial Realty during the third quarter valued at $8,282,000. Vanguard Group Inc. lifted its position in shares of 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 buying an additional 11,465 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of ACRES Commercial Realty by 16.8% during the 2nd quarter. Acadian Asset Management LLC now owns 182,679 shares of the company’s stock valued at $3,272,000 after buying an additional 26,226 shares during the last quarter. Geode Capital Management LLC grew its stake 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 acquiring an additional 76,688 shares during the period. Finally, Gratia Capital LLC increased its holdings in ACRES Commercial Realty by 64.3% in the 2nd quarter. Gratia Capital LLC now owns 125,994 shares of the company’s stock worth $2,260,000 after acquiring an additional 49,312 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ACR. Citigroup reaffirmed an “outperform” rating on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Zacks Research upgraded shares of ACRES Commercial Realty to a “hold” rating in a report on Friday, December 19th. Wall Street Zen raised shares of ACRES Commercial Realty from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings restated a “hold (c)” rating on shares of ACRES Commercial Realty in a report on Monday, December 29th. Finally, JMP Securities set a $24.50 price objective on shares of ACRES Commercial Realty in a research note on Friday, October 31st. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.