Eagle Point Credit Management Sells 5,981 Shares of ACRES Commercial Realty (NYSE:ACR) Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 5,981 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $24.37, for a total transaction of $145,756.97. Following the sale, the insider directly owned 339,325 shares of the company’s stock, valued at approximately $8,269,350.25. This represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 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 Friday, June 12th, Eagle Point Credit Management sold 849 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.47, for a total transaction of $21,624.03.
• On Thursday, June 11th, Eagle Point Credit Management sold 215 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.47, for a total value of $5,476.05.
• On Wednesday, June 10th, Eagle Point Credit Management sold 1,527 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.56, for a total value of $34,449.12.
• On Wednesday, June 3rd, Eagle Point Credit Management sold 422 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.55, for a total value of $9,516.10.
• On Monday, June 1st, Eagle Point Credit Management sold 5,806 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.41, for a total value of $147,530.46.
• On Wednesday, May 20th, Eagle Point Credit Management sold 404 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.50, for a total value of $9,090.00.
• On Monday, March 30th, Eagle Point Credit Management sold 1,095 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.12, for a total value of $24,221.40.

ACRES Commercial Realty Stock Down 0.6%

Shares of ACRES Commercial Realty stock opened at $16.40 on Friday. ACRES Commercial Realty Corp. has a 12-month low of $15.61 and a 12-month high of $24.61. The firm has a market capitalization of $116.93 million, a PE ratio of 25.23 and a beta of 1.07. The company has a quick ratio of 164.62, a current ratio of 164.62 and a debt-to-equity ratio of 3.36. The stock’s fifty day moving average is $19.75 and its 200-day moving average is $20.00.

ACRES Commercial Realty (NYSE:ACR) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02. The business had revenue of $17.82 million during the quarter, compared to analyst estimates of $20.55 million. ACRES Commercial Realty had a return on equity of 5.61% and a net margin of 37.20%. Equities analysts anticipate that ACRES Commercial Realty Corp. will post 0.15 earnings per share for the current year.

Institutional Trading of ACRES Commercial Realty

Several hedge funds and other institutional investors have recently modified their holdings of ACR. BNP Paribas Financial Markets raised its position in ACRES Commercial Realty by 120.2% during the third quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company’s stock valued at $29,000 after buying an additional 739 shares during the period. JPMorgan Chase & Co. purchased a new stake in ACRES Commercial Realty in the 2nd quarter worth about $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in ACRES Commercial Realty during the 2nd quarter worth about $60,000. Bank of America Corp DE boosted its position in ACRES Commercial Realty by 110.4% during the 2nd quarter. Bank of America Corp DE now owns 3,671 shares of the company’s stock worth $66,000 after acquiring an additional 1,926 shares during the period. Finally, MetLife Investment Management LLC purchased a new position in ACRES Commercial Realty during the 4th quarter valued at about $76,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

ACR has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of ACRES Commercial Realty from a “strong sell” rating to a “sell” rating in a report on Saturday, April 18th. Weiss Ratings upgraded shares of ACRES Commercial Realty from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, ACRES Commercial Realty has an average rating of “Moderate Buy” and an average price target of $24.50.

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.