ACRES Commercial Realty (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 600 Shares of Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 600 shares of the company’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $25.25, for a total transaction of $15,150.00. Following the sale, the insider directly owned 354,448 shares of the company’s stock, valued at approximately $8,949,812. This trade represents a 0.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more 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 Thursday, February 26th, Eagle Point Credit Management sold 1,301 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.28, for a total value 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 Thursday, February 19th, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The shares were 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 value 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 shares were sold at an average price of $22.12, for a total transaction of $2,145.64.
• On Tuesday, February 3rd, Eagle Point Credit Management sold 49 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.42, for a total transaction of $1,098.58.
• On Monday, February 2nd, Eagle Point Credit Management sold 5,200 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.11, for a total transaction of $114,972.00.
• On Friday, January 30th, Eagle Point Credit Management sold 4,780 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $23.89, for a total transaction of $114,194.20.
• On Thursday, January 29th, Eagle Point Credit Management sold 53 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.10, for a total transaction of $1,171.30.

ACRES Commercial Realty Stock Down 0.6%

ACR stock traded down $0.11 during trading on Friday, reaching $18.54. The stock had a trading volume of 2,976 shares, compared to its average volume of 22,536. The company has a current ratio of 104.99, a quick ratio of 104.99 and a debt-to-equity ratio of 2.73. The firm has a fifty day moving average price of $19.95 and a 200 day moving average price of $20.67. The company has a market capitalization of $135.18 million, a P/E ratio of 19.31 and a beta of 1.19. ACRES Commercial Realty Corp. has a 1-year low of $16.51 and a 1-year high of $24.61.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Zacks Research raised ACRES Commercial Realty to a “hold” rating in a report on Friday, December 19th. Citigroup reaffirmed an “outperform” rating on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Citizens Jmp set a $24.50 target price on ACRES Commercial Realty in a research note on Friday, October 31st. Weiss Ratings reissued a “hold (c)” rating on shares of ACRES Commercial Realty in a research report on Monday, December 29th. Finally, Wall Street Zen raised shares of ACRES Commercial Realty from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.50.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Cubist Systematic Strategies LLC bought a new stake in shares of ACRES Commercial Realty in the 1st quarter valued at approximately $133,000. Goldman Sachs Group Inc. acquired a new position in ACRES Commercial Realty in the first quarter worth $488,000. Jane Street Group LLC boosted its holdings in ACRES Commercial Realty by 190.8% in the first quarter. Jane Street Group LLC now owns 38,434 shares of the company’s stock worth $833,000 after purchasing an additional 25,216 shares during the period. Acadian Asset Management LLC increased its stake 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 valued at $3,272,000 after purchasing an additional 26,226 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in ACRES Commercial Realty by 125.1% during the second 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 during the last quarter. 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.