ACRES Commercial Realty (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 1,301 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 1,301 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $25.28, for a total transaction of $32,889.28. Following the completion of the sale, the insider owned 351,347 shares of the company’s stock, valued at approximately $8,882,052.16. The trade was a 0.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own 10% or more 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 Wednesday, February 25th, Eagle Point Credit Management sold 1,800 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.25, for a total transaction of $45,450.00.
• On Tuesday, February 24th, Eagle Point Credit Management sold 600 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.25, for a total transaction of $15,150.00.
• On Thursday, February 19th, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.23, for a total value of $2,523.00.
• On Wednesday, February 18th, Eagle Point Credit Management sold 409 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.20, for a total value of $10,306.80.
• On Tuesday, February 17th, Eagle Point Credit Management sold 273 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.20, for a total value of $6,060.60.
• On Wednesday, February 4th, Eagle Point Credit Management sold 97 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.12, for a total value of $2,145.64.
• On Tuesday, February 3rd, Eagle Point Credit Management sold 49 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.42, for a total transaction of $1,098.58.
• On Monday, February 2nd, Eagle Point Credit Management sold 5,200 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.11, for a total transaction of $114,972.00.
• On Friday, January 30th, Eagle Point Credit Management sold 4,780 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $23.89, for a total transaction of $114,194.20.
• On Thursday, January 29th, Eagle Point Credit Management sold 53 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.10, for a total transaction of $1,171.30.

ACRES Commercial Realty Trading Down 0.6%

Shares of ACRES Commercial Realty stock traded down $0.11 during trading on Friday, reaching $18.54. 2,976 shares of the stock were exchanged, compared to its average volume of 22,536. The company has a quick ratio of 104.99, a current ratio of 104.99 and a debt-to-equity ratio of 2.73. The firm has a market cap of $135.18 million, a price-to-earnings ratio of 19.31 and a beta of 1.19. ACRES Commercial Realty Corp. has a 1 year low of $16.51 and a 1 year high of $24.61. The stock’s fifty day moving average is $19.95 and its 200 day moving average is $20.67.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ACR shares. Weiss Ratings reissued a “hold (c)” rating on shares of ACRES Commercial Realty in a research note on Monday, December 29th. Zacks Research upgraded shares of ACRES Commercial Realty to a “hold” rating in a report on Friday, December 19th. Citigroup reissued an “outperform” rating on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Citizens Jmp set a $24.50 target price on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Finally, Wall Street Zen raised shares of ACRES Commercial Realty from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, ACRES Commercial Realty has an average rating of “Hold” and an average target price of $24.50.

Hedge Funds Weigh In On ACRES Commercial Realty

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC grew its position in shares of ACRES Commercial Realty by 16.8% in the 2nd quarter. Acadian Asset Management LLC now owns 182,679 shares of the company’s stock worth $3,272,000 after buying an additional 26,226 shares during the period. Gratia Capital LLC grew its holdings in ACRES Commercial Realty by 64.3% in the second quarter. Gratia Capital LLC now owns 125,994 shares of the company’s stock worth $2,260,000 after purchasing an additional 49,312 shares during the period. Vanguard Group Inc. increased its stake in shares of ACRES Commercial Realty by 3.1% during the third quarter. Vanguard Group Inc. now owns 383,696 shares of the company’s stock valued at $8,119,000 after purchasing an additional 11,465 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of ACRES Commercial Realty by 177.8% during the third quarter. JPMorgan Chase & Co. now owns 8,082 shares of the company’s stock valued at $171,000 after purchasing an additional 5,173 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in shares of ACRES Commercial Realty by 110.4% in the 2nd quarter. Bank of America Corp DE now owns 3,671 shares of the company’s stock worth $66,000 after purchasing an additional 1,926 shares in the last quarter. Hedge funds and other 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.