ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 854 Shares of Stock

ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 854 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $22.45, for a total value of $19,172.30. Following the sale, the insider now owns 865,612 shares of the company's stock, valued at $19,432,989.40. This represents a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases 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 shares were sold at an average price of $22.48, for a total value of $76,072.32.
• 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 transaction of $229,345.96.
• 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 shares were sold at an average price of $24.90, for a total value 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 shares were sold at an average price of $25.20, for a total value 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.

ACRES Commercial Realty Stock Down 1.5 %

ACRES Commercial Realty stock traded down $0.32 during mid-day trading on Friday, hitting $21.12. 44,139 shares of the company's stock were exchanged, compared to its average volume of 21,465. The stock has a market cap of $157.44 million, a P/E ratio of 25.14 and a beta of 2.12. The stock has a 50 day moving average of $19.98 and a two-hundred day moving average of $17.56. ACRES Commercial Realty Corp. has a 1-year low of $12.33 and a 1-year 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.

Remove Ads

Institutional Investors Weigh In On ACRES Commercial Realty

A number of large investors have recently added to or reduced their stakes in the stock. 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 valued at $55,000 after buying an additional 2,083 shares during the last quarter. Sei Investments Co. bought a new stake in ACRES Commercial Realty during the fourth quarter valued at about $162,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of ACRES Commercial Realty in the third quarter worth about $177,000. Jane Street Group LLC acquired a new position in shares of ACRES Commercial Realty during the 4th quarter worth about $213,000. Finally, Biltmore Family Office LLC lifted its position in shares of ACRES Commercial Realty by 41.7% during the 4th quarter. Biltmore Family Office LLC now owns 22,104 shares of the company's stock worth $357,000 after purchasing an additional 6,504 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Jones Trading reissued a "hold" rating on shares of ACRES Commercial Realty in a research note on Thursday, March 13th. JMP Securities lifted their target price on shares of ACRES Commercial Realty to $22.00 and gave the company a "buy" rating in a research note 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.