ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells $24,221.40 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 1,095 shares of the firm’s stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $22.12, for a total value of $24,221.40. Following the completion of the transaction, the insider owned 737,928 shares of the company’s stock, valued at approximately $16,322,967.36. The trade was a 0.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 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 Monday, March 16th, Eagle Point Credit Management sold 2,954 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.07, for a total value of $65,194.78.
• On Tuesday, March 3rd, Eagle Point Credit Management sold 3,142 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $21.80, for a total value of $68,495.60.
• 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 shares were 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 stock was 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.

ACRES Commercial Realty Stock Performance

NYSE:ACR traded up $0.22 during mid-day trading on Thursday, hitting $19.40. The company’s stock had a trading volume of 4,310 shares, compared to its average volume of 22,302. The business’s fifty day moving average is $18.95 and its two-hundred day moving average is $20.39. The stock has a market cap of $138.34 million, a price-to-earnings ratio of 1,941.94 and a beta of 1.11. The company has a debt-to-equity ratio of 2.81, a current ratio of 135.18 and a quick ratio of 135.18. 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 analysts have recently commented on ACR shares. Wall Street Zen downgraded ACRES Commercial Realty from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Zacks Research raised ACRES Commercial Realty to a “hold” rating in a report on Friday, December 19th. Finally, Weiss Ratings upgraded ACRES Commercial Realty from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.50.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC acquired a new stake in shares of ACRES Commercial Realty during the 1st quarter valued at about $133,000. Goldman Sachs Group Inc. acquired a new position in ACRES Commercial Realty in the 1st quarter worth about $488,000. Jane Street Group LLC boosted its position in ACRES Commercial Realty by 190.8% during 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 in the last quarter. Geode Capital Management LLC boosted its position 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 worth $2,476,000 after purchasing an additional 76,688 shares in the last quarter. Finally, JPMorgan Chase & Co. acquired a new stake in ACRES Commercial Realty in the second quarter valued at approximately $52,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

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.