ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 9,937 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $23.08, for a total value of $229,345.96. Following the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large 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 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 transaction 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 transaction 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 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 value of $10,584.00.
- On Monday, December 23rd, Eagle Point Credit Management sold 2,388 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.20, for a total value of $60,177.60.
ACRES Commercial Realty Price Performance
Shares of NYSE:ACR traded down $0.18 on Tuesday, hitting $21.98. The company had a trading volume of 56,543 shares, compared to its average volume of 21,107. The company has a market cap of $163.88 million, a PE ratio of 26.17 and a beta of 2.12. The business has a 50 day moving average of $19.67 and a 200 day moving average of $17.39. ACRES Commercial Realty Corp. has a 52-week low of $12.30 and a 52-week high of $23.81. The company has a current ratio of 73.84, a quick ratio of 73.84 and a debt-to-equity ratio of 3.33.
Institutional Investors Weigh In On ACRES Commercial Realty
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC grew 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 worth $55,000 after acquiring an additional 2,083 shares during the period. Sei Investments Co. purchased a new stake in shares of ACRES Commercial Realty in the fourth quarter valued at $162,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in ACRES Commercial Realty in the third quarter valued at $177,000. Jane Street Group LLC purchased a new position in ACRES Commercial Realty during the fourth quarter worth about $213,000. Finally, Biltmore Family Office LLC boosted its stake in ACRES Commercial Realty by 24.8% in the 3rd quarter. Biltmore Family Office LLC now owns 15,600 shares of the company's stock worth $244,000 after buying an additional 3,100 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms recently commented on ACR. JMP Securities boosted their price objective on shares of ACRES Commercial Realty to $22.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. Jones Trading reaffirmed a "hold" rating on shares of ACRES Commercial Realty in a report on Thursday, March 13th.
Read Our Latest 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.
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