Eagle Point Credit Management Sells 3,384 Shares of ACRES Commercial Realty Corp. (NYSE:ACR) Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 3,384 shares of ACRES Commercial Realty stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $22.48, for a total value of $76,072.32. Following the completion of the sale, the insider now directly owns 861,523 shares of the company’s stock, valued at approximately $19,367,037.04. This trade represents a 0.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major 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 24th, Eagle Point Credit Management sold 854 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.45, for a total transaction of $19,172.30.
• On Wednesday, March 19th, Eagle Point Credit Management sold 9,937 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $23.08, for a total transaction of $229,345.96.
• On Thursday, March 13th, Eagle Point Credit Management sold 8,657 shares of ACRES Commercial Realty stock. The stock was 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 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 value of $164,304.00.
• On Monday, December 30th, Eagle Point Credit Management sold 200 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.20, for a total value of $5,040.00.

ACRES Commercial Realty Trading Down 1.5 %

Shares of ACR stock opened at $21.12 on Friday. The company has a market capitalization of $157.44 million, a PE ratio of 25.14 and a beta of 2.12. ACRES Commercial Realty Corp. has a 52-week low of $12.33 and a 52-week high of $23.81. The business’s fifty day moving average is $19.98 and its 200 day moving average is $17.54. The company has a debt-to-equity ratio of 3.33, a quick ratio of 73.84 and a current ratio of 73.84.

Institutional Trading of ACRES Commercial Realty

A number of large investors have recently modified their holdings of the business. Barclays PLC raised its stake in ACRES Commercial Realty by 147.1% in the third quarter. Barclays PLC now owns 3,499 shares of the company’s stock valued at $55,000 after purchasing an additional 2,083 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of ACRES Commercial Realty during the 4th quarter valued at $412,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of ACRES Commercial Realty during the 3rd quarter worth $177,000. Northern Trust Corp grew its position in ACRES Commercial Realty by 32.5% in the fourth quarter. Northern Trust Corp now owns 39,671 shares of the company’s stock worth $641,000 after acquiring an additional 9,738 shares in the last quarter. Finally, Nokomis Capital L.L.C. increased its stake in ACRES Commercial Realty by 1.1% in the fourth quarter. Nokomis Capital L.L.C. now owns 264,597 shares of the company’s stock valued at $4,273,000 after acquiring an additional 2,889 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

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

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.