ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 9,937 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 9,937 shares of ACRES Commercial Realty stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $23.08, for a total transaction of $229,345.96. Following the transaction, the insider now directly owns 866,466 shares of the company’s stock, valued at approximately $19,998,035.28. This represents a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 Thursday, March 13th, Eagle Point Credit Management sold 8,657 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.47, for a total transaction of $194,522.79.
• On Thursday, January 30th, Eagle Point Credit Management sold 811 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.90, for a total value of $20,193.90.
• On Wednesday, January 22nd, Eagle Point Credit Management sold 7,335 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.40, for a total value of $164,304.00.
• On Monday, December 30th, Eagle Point Credit Management sold 200 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.20, for a total value of $5,040.00.
• On Thursday, December 26th, Eagle Point Credit Management sold 420 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.20, for a total transaction of $10,584.00.
• On Monday, December 23rd, Eagle Point Credit Management sold 2,388 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.20, for a total transaction of $60,177.60.

ACRES Commercial Realty Price Performance

NYSE ACR traded down $1.64 during trading hours on Friday, reaching $21.75. The company’s stock had a trading volume of 65,748 shares, compared to its average volume of 21,153. ACRES Commercial Realty Corp. has a 1-year low of $12.30 and a 1-year high of $23.81. The firm has a market capitalization of $162.13 million, a price-to-earnings ratio of 25.89 and a beta of 2.12. The company has a debt-to-equity ratio of 3.33, a current ratio of 73.84 and a quick ratio of 73.84. The company’s 50-day moving average is $19.48 and its two-hundred day moving average is $17.27.

Institutional Investors Weigh In On ACRES Commercial Realty

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new position in shares of ACRES Commercial Realty during the 4th quarter valued at about $829,000. Bank of New York Mellon Corp acquired a new position in ACRES Commercial Realty in the fourth quarter valued at approximately $412,000. Jane Street Group LLC purchased a new position in ACRES Commercial Realty in the fourth quarter worth approximately $213,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in ACRES Commercial Realty during the third quarter worth $177,000. Finally, Sei Investments Co. purchased a new stake in ACRES Commercial Realty in the fourth quarter valued at $162,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on ACR shares. Jones Trading reiterated a “hold” rating on shares of ACRES Commercial Realty in a report on Thursday, March 13th. JMP Securities raised their target price on ACRES Commercial Realty to $22.00 and gave the stock a “buy” rating in a research note on Friday, March 7th.

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.