Eagle Point Credit Management Sells 1,674 Shares of ACRES Commercial Realty Corp. (NYSE:ACR) Stock

Posted by Scott Davis on Nov 26th, 2024

ACRES Commercial Realty Corp. (NYSE:ACR – Get Free Report) major shareholder Eagle Point Credit Management sold 1,674 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $25.11, for a total transaction of $42,034.14. Following the completion of the sale, the insider now directly owns 471,793 shares in the company, valued at $11,846,722.23. This represents a 0.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

On Monday, November 18th, Eagle Point Credit Management sold 1,923 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.06, for a total transaction of $48,190.38.
On Friday, November 15th, Eagle Point Credit Management sold 420 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.04, for a total transaction of $10,516.80.
On Monday, November 11th, Eagle Point Credit Management sold 2,625 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.00, for a total transaction of $65,625.00.
On Thursday, November 7th, Eagle Point Credit Management sold 1,312 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.97, for a total transaction of $32,760.64.
On Monday, November 4th, Eagle Point Credit Management sold 129 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.94, for a total value of $3,217.26.
On Wednesday, October 30th, Eagle Point Credit Management sold 2,394 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.91, for a total value of $59,634.54.
On Wednesday, October 23rd, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.89, for a total transaction of $2,489.00.
On Friday, October 18th, Eagle Point Credit Management sold 10,601 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $23.38, for a total value of $247,851.38.
On Wednesday, October 16th, Eagle Point Credit Management sold 6,309 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $23.96, for a total transaction of $151,163.64.
On Monday, October 14th, Eagle Point Credit Management sold 4,200 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.86, for a total value of $104,412.00.

ACRES Commercial Realty Trading Up 3.3 %

Shares of NYSE ACR traded up $0.55 during midday trading on Monday, hitting $17.30. 26,391 shares of the company traded hands, compared to its average volume of 21,563. The company has a debt-to-equity ratio of 3.33, a quick ratio of 73.84 and a current ratio of 73.84. The firm has a market cap of $133.90 million, a P/E ratio of 19.94 and a beta of 2.05. The stock has a 50-day moving average price of $15.72 and a 200 day moving average price of $14.63. ACRES Commercial Realty Corp. has a 12-month low of $7.31 and a 12-month high of $17.33.

Institutional Investors Weigh In On ACRES Commercial Realty

A number of hedge funds have recently added to or reduced their stakes in ACR. O Shaughnessy Asset Management LLC bought a new stake in ACRES Commercial Realty during the 1st quarter valued at approximately $580,000. Biltmore Family Office LLC bought a new stake in ACRES Commercial Realty during the 2nd quarter valued at about $160,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of ACRES Commercial Realty in the third quarter valued at about $177,000. Ritholtz Wealth Management increased its holdings in shares of ACRES Commercial Realty by 23.0% in the 3rd quarter. Ritholtz Wealth Management now owns 25,769 shares of the company’s stock valued at $404,000 after acquiring an additional 4,825 shares during the period. Finally, Barclays PLC raised its stake 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 in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, JMP Securities lifted their price target on shares of ACRES Commercial Realty from $16.50 to $17.50 and gave the stock a “market outperform” rating in a report on Wednesday, September 25th.

Check Out Our Latest Research Report on ACR

About ACRES Commercial Realty

(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.