ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Sells $194,522.79 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 8,657 shares of ACRES Commercial Realty stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $22.47, for a total transaction of $194,522.79. Following the completion of the sale, the insider now directly owns 877,539 shares in the company, valued at $19,718,301.33. This represents a 0.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 Thursday, January 30th, Eagle Point Credit Management sold 811 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.90, for a total transaction of $20,193.90.
• On Wednesday, January 22nd, Eagle Point Credit Management sold 7,335 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.40, for a total transaction 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 transaction of $5,040.00.
• On Thursday, December 26th, Eagle Point Credit Management sold 420 shares of ACRES Commercial Realty stock. The shares were 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 value of $60,177.60.
• On Friday, December 20th, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.20, for a total value of $2,520.00.
• On Wednesday, December 18th, Eagle Point Credit Management sold 6,816 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.77, for a total value of $168,832.32.

ACRES Commercial Realty Stock Down 0.6 %

NYSE ACR opened at $23.38 on Friday. ACRES Commercial Realty Corp. has a 52 week low of $12.30 and a 52 week high of $23.81. The company has a quick ratio of 73.84, a current ratio of 73.84 and a debt-to-equity ratio of 3.33. The business’s fifty day simple moving average is $19.48 and its 200-day simple moving average is $17.27. The firm has a market cap of $174.32 million, a PE ratio of 27.83 and a beta of 2.12.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ACR. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of ACRES Commercial Realty during the 3rd quarter worth $177,000. Biltmore Family Office LLC raised its holdings in shares of ACRES Commercial Realty by 24.8% during the 3rd quarter. Biltmore Family Office LLC now owns 15,600 shares of the company’s stock worth $244,000 after acquiring an additional 3,100 shares during the period. Barclays PLC raised its holdings in shares of ACRES Commercial Realty by 147.1% during the 3rd quarter. Barclays PLC now owns 3,499 shares of the company’s stock worth $55,000 after acquiring an additional 2,083 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of ACRES Commercial Realty during the 4th quarter worth $412,000. Finally, Raymond James Financial Inc. purchased a new position in shares of ACRES Commercial Realty during the 4th quarter worth $829,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on ACR. Jones Trading restated a “hold” rating on shares of ACRES Commercial Realty in a report on Thursday, March 13th. JMP Securities raised their price objective on ACRES Commercial Realty to $22.00 and gave the company a “buy” rating in a report 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.