ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 1,172 Shares

ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 1,172 shares of the business's stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $22.48, for a total value of $26,346.56. Following the completion of the transaction, the insider now owns 859,525 shares of the company's stock, valued at $19,322,122. This represents a 0.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own at least 10% 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 Wednesday, March 26th, Eagle Point Credit Management sold 3,384 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.48, for a total transaction of $76,072.32.
• On Monday, March 24th, Eagle Point Credit Management sold 854 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.45, for a total value of $19,172.30.
• On Wednesday, March 19th, Eagle Point Credit Management sold 9,937 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $23.08, for a total value 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 value 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 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.

ACRES Commercial Realty Stock Performance

ACR stock traded down $1.67 during trading hours on Friday, reaching $19.04. The stock had a trading volume of 57,505 shares, compared to its average volume of 21,767. The stock has a 50-day simple moving average of $20.26 and a 200 day simple moving average of $17.69. ACRES Commercial Realty Corp. has a fifty-two week low of $12.33 and a fifty-two week high of $23.81. The stock has a market capitalization of $141.96 million, a PE ratio of 22.67 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.

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Analysts Set New Price Targets

ACR has been the subject of several analyst reports. 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. Jones Trading reaffirmed a "hold" rating on shares of ACRES Commercial Realty in a research report on Thursday, March 13th.

Hedge Funds Weigh In On ACRES Commercial Realty

A number of hedge funds and other institutional investors have recently bought and sold shares of ACR. Connor Clark & Lunn Investment Management Ltd. bought a new stake in ACRES Commercial Realty in the third quarter valued at approximately $177,000. Barclays PLC raised its stake in ACRES Commercial Realty by 147.1% in the 3rd quarter. Barclays PLC now owns 3,499 shares of the company's stock valued at $55,000 after acquiring an additional 2,083 shares during the period. Bank of New York Mellon Corp acquired a new stake in ACRES Commercial Realty during the 4th quarter valued at $412,000. Raymond James Financial Inc. bought a new position in ACRES Commercial Realty during the fourth quarter worth $829,000. Finally, Sei Investments Co. acquired a new position in shares of ACRES Commercial Realty in the fourth quarter valued at $162,000. Institutional investors own 40.03% of the company's stock.

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.