ACRES Commercial Realty (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 2,076 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 2,076 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $22.50, for a total value of $46,710.00. Following the sale, the insider owned 731,230 shares of the company’s stock, valued at $16,452,675. This represents a 0.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Monday, June 15th, Eagle Point Credit Management sold 5,981 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.37, for a total value of $145,756.97.
• On Friday, June 12th, Eagle Point Credit Management sold 849 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.47, for a total value of $21,624.03.
• On Thursday, June 11th, Eagle Point Credit Management sold 215 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.47, for a total value of $5,476.05.
• On Wednesday, June 10th, Eagle Point Credit Management sold 1,527 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.56, for a total value of $34,449.12.
• On Wednesday, June 3rd, Eagle Point Credit Management sold 422 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.55, for a total value of $9,516.10.
• On Monday, June 1st, Eagle Point Credit Management sold 5,806 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.41, for a total value of $147,530.46.
• On Wednesday, May 20th, Eagle Point Credit Management sold 404 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.50, for a total value of $9,090.00.
• On Monday, March 30th, Eagle Point Credit Management sold 1,095 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.12, for a total transaction of $24,221.40.

ACRES Commercial Realty Stock Up 6.1%

Shares of NYSE:ACR traded up $1.04 during midday trading on Friday, reaching $18.07. The company had a trading volume of 182,505 shares, compared to its average volume of 26,550. The company has a debt-to-equity ratio of 3.36, a current ratio of 164.62 and a quick ratio of 164.62. The stock’s fifty day moving average price is $19.54 and its 200-day moving average price is $19.84. The stock has a market capitalization of $128.80 million, a P/E ratio of 27.79 and a beta of 1.07. ACRES Commercial Realty Corp. has a one year low of $15.61 and a one year high of $24.61.

ACRES Commercial Realty (NYSE:ACR) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.02 EPS for the quarter, meeting analysts’ consensus estimates of $0.02. The firm had revenue of $17.82 million for the quarter, compared to the consensus estimate of $20.55 million. ACRES Commercial Realty had a net margin of 37.20% and a return on equity of 5.61%. Equities research analysts expect that ACRES Commercial Realty Corp. will post 0.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ACR has been the topic of several research reports. Wall Street Zen upgraded ACRES Commercial Realty from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 18th. Weiss Ratings upgraded ACRES Commercial Realty from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $24.50.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ACR. Eagle Point Credit Management LLC acquired a new position in shares of ACRES Commercial Realty in the 4th quarter valued at about $25,118,000. Oaktree Capital Management LP acquired a new position in ACRES Commercial Realty in the third quarter valued at approximately $8,282,000. Geode Capital Management LLC boosted its stake in ACRES Commercial Realty by 125.1% in the second quarter. Geode Capital Management LLC now owns 137,996 shares of the company’s stock valued at $2,476,000 after acquiring an additional 76,688 shares during the period. Raymond James Financial Inc. grew its holdings in shares of ACRES Commercial Realty by 60.6% during the second quarter. Raymond James Financial Inc. now owns 78,150 shares of the company’s stock valued at $1,402,000 after purchasing an additional 29,503 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of ACRES Commercial Realty by 190.8% during the first quarter. Jane Street Group LLC now owns 38,434 shares of the company’s stock valued at $833,000 after purchasing an additional 25,216 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

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.