ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells $68,495.60 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 3,142 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $21.80, for a total value of $68,495.60. Following the transaction, the insider owned 741,977 shares in the company, valued at approximately $16,175,098.60. This represents a 0.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own more than 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, March 2nd, Eagle Point Credit Management sold 2,140 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.08, for a total transaction of $51,531.20.
• 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 transaction 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 transaction of $45,450.00.
• On Tuesday, February 24th, Eagle Point Credit Management sold 600 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.25, for a total transaction of $15,150.00.
• 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 transaction 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 transaction 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 transaction 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.

ACRES Commercial Realty Stock Down 0.9%

ACRES Commercial Realty stock opened at $19.01 on Friday. The business has a fifty day moving average of $19.50 and a two-hundred day moving average of $20.62. The company has a quick ratio of 104.99, a current ratio of 104.99 and a debt-to-equity ratio of 2.73. The firm has a market cap of $138.58 million, a P/E ratio of 1,902.90 and a beta of 1.19. ACRES Commercial Realty Corp. has a twelve month low of $16.51 and a twelve month high of $24.61.

Institutional Trading of ACRES Commercial Realty

Hedge funds and other institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC grew its stake in ACRES Commercial Realty by 16.8% during the 2nd quarter. Acadian Asset Management LLC now owns 182,679 shares of the company’s stock worth $3,272,000 after buying an additional 26,226 shares during the last quarter. Gratia Capital LLC increased its position in ACRES Commercial Realty by 64.3% during the 2nd quarter. Gratia Capital LLC now owns 125,994 shares of the company’s stock valued at $2,260,000 after buying an additional 49,312 shares in the last quarter. MetLife Investment Management LLC purchased a new stake in ACRES Commercial Realty in the fourth quarter valued at about $76,000. Bank of America Corp DE boosted its holdings in ACRES Commercial Realty by 110.4% in the second quarter. Bank of America Corp DE now owns 3,671 shares of the company’s stock worth $66,000 after acquiring an additional 1,926 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in ACRES Commercial Realty in the second quarter worth about $60,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ACR. Wall Street Zen cut ACRES Commercial Realty from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Zacks Research upgraded shares of ACRES Commercial Realty to a “hold” rating in a report on Friday, December 19th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of ACRES Commercial Realty in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.