Insider Selling: ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells $30,252.42 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 1,389 shares of the stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $21.78, for a total transaction of $30,252.42. Following the transaction, the insider directly owned 719,097 shares of the company’s stock, valued at $15,661,932.66. This represents a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 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 Wednesday, July 29th, Eagle Point Credit Management sold 2,212 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $21.80, for a total value of $48,221.60.
• On Tuesday, July 28th, Eagle Point Credit Management sold 206 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $21.79, for a total value of $4,488.74.
• On Wednesday, June 24th, Eagle Point Credit Management sold 2,076 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.50, for a total value of $46,710.00.
• On Monday, June 15th, Eagle Point Credit Management sold 5,981 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.37, for a total value of $145,756.97.
• 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 value 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.

ACRES Commercial Realty Price Performance

ACRES Commercial Realty stock traded up $0.29 during midday trading on Wednesday, reaching $18.40. The company’s stock had a trading volume of 38,447 shares, compared to its average volume of 15,503. ACRES Commercial Realty Corp. has a fifty-two week low of $15.61 and a fifty-two week high of $24.61. The company has a debt-to-equity ratio of 3.36, a quick ratio of 164.62 and a current ratio of 164.62. The stock’s 50 day simple moving average is $18.12 and its 200 day simple moving average is $19.06. The firm has a market capitalization of $131.21 million, a PE ratio of 28.31 and a beta of 1.09.

ACRES Commercial Realty (NYSE:ACR) last issued its earnings results on Wednesday, July 29th. The company reported ($2.26) EPS for the quarter, missing the consensus estimate of $0.18 by ($2.44). ACRES Commercial Realty had a return on equity of 5.61% and a net margin of 37.20%. On average, equities research analysts forecast that ACRES Commercial Realty Corp. will post 0.15 earnings per share for the current year.

Analysts Set New Price Targets

ACR has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of ACRES Commercial Realty from a “hold” rating to a “sell” rating in a report on Sunday, July 5th. Weiss Ratings raised shares of ACRES Commercial Realty from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, Zacks Research downgraded shares of ACRES Commercial Realty from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $24.50.

Institutional Investors Weigh In On ACRES Commercial Realty

A number of institutional investors and hedge funds have recently bought and sold shares of ACR. Royal Bank of Canada grew its holdings in ACRES Commercial Realty by 524.2% during the 4th quarter. Royal Bank of Canada now owns 5,349 shares of the company’s stock valued at $114,000 after buying an additional 4,492 shares during the last quarter. New York State Common Retirement Fund acquired a new position in shares of ACRES Commercial Realty in the second quarter worth $106,000. Russell Investments Group Ltd. acquired a new position in shares of ACRES Commercial Realty in the second quarter worth $93,000. MetLife Investment Management LLC purchased a new stake in shares of ACRES Commercial Realty in the fourth quarter valued at $76,000. Finally, Bank of America Corp DE boosted its stake in shares of ACRES Commercial Realty by 110.4% during the second quarter. Bank of America Corp DE now owns 3,671 shares of the company’s stock valued at $66,000 after acquiring an additional 1,926 shares during 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.