Eagle Point Credit Management Sells 4,706 Shares of ACRES Commercial Realty Corp. (NYSE:ACR) Stock

Posted by Jim Brewer on Aug 15th, 2024

ACRES Commercial Realty Corp. (NYSE:ACR – Get Free Report) major shareholder Eagle Point Credit Management sold 4,706 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $24.87, for a total transaction of $117,038.22. Following the sale, the insider now owns 608,477 shares of the company’s stock, valued at $15,132,822.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Eagle Point Credit Management also recently made the following trade(s):

On Tuesday, August 13th, Eagle Point Credit Management sold 1,309 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.85, for a total transaction of $32,528.65.
On Friday, August 9th, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.85, for a total transaction of $2,485.00.
On Wednesday, August 7th, Eagle Point Credit Management sold 4,664 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.71, for a total transaction of $115,247.44.
On Friday, August 2nd, Eagle Point Credit Management sold 2,635 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.88, for a total transaction of $65,558.80.
On Wednesday, July 31st, Eagle Point Credit Management sold 15,096 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.86, for a total transaction of $375,286.56.
On Monday, July 29th, Eagle Point Credit Management sold 376 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.75, for a total transaction of $9,306.00.
On Tuesday, July 23rd, Eagle Point Credit Management sold 386 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.75, for a total transaction of $9,553.50.
On Thursday, July 25th, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.75, for a total transaction of $2,475.00.
On Monday, July 15th, Eagle Point Credit Management sold 679 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.67, for a total transaction of $16,750.93.
On Thursday, July 11th, Eagle Point Credit Management sold 1,900 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.63, for a total transaction of $46,797.00.

ACRES Commercial Realty Stock Down 3.0 %

Shares of NYSE ACR traded down $0.48 during midday trading on Thursday, hitting $15.30. The company’s stock had a trading volume of 45,722 shares, compared to its average volume of 23,230. The business’s fifty day simple moving average is $13.76 and its two-hundred day simple moving average is $12.81. The company has a debt-to-equity ratio of 3.56, a current ratio of 100.49 and a quick ratio of 100.49. ACRES Commercial Realty Corp. has a 1 year low of $6.62 and a 1 year high of $16.13. The firm has a market capitalization of $121.77 million, a price-to-earnings ratio of 21.74 and a beta of 2.04.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ACR. Biltmore Family Office LLC purchased a new position in ACRES Commercial Realty in the second quarter worth approximately $160,000. Janney Montgomery Scott LLC purchased a new position in ACRES Commercial Realty in the first quarter worth approximately $172,000. Ritholtz Wealth Management lifted its stake in ACRES Commercial Realty by 17.0% in the second quarter. Ritholtz Wealth Management now owns 20,944 shares of the company’s stock worth $267,000 after acquiring an additional 3,043 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new position in ACRES Commercial Realty in the first quarter worth approximately $580,000. Finally, Acadian Asset Management LLC lifted its stake in ACRES Commercial Realty by 19.2% in the first quarter. Acadian Asset Management LLC now owns 105,420 shares of the company’s stock worth $1,480,000 after acquiring an additional 16,986 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

Separately, JMP Securities raised their price objective on shares of ACRES Commercial Realty from $14.00 to $15.50 and gave the company a “market outperform” rating in a research note on Tuesday, April 30th.

Get Our Latest Research Report on ACR

ACRES Commercial Realty Company Profile

(Get Free Report)

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.