ACRES Commercial Realty (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 1,372 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 1,372 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $22.26, for a total value of $30,540.72. Following the completion of the sale, the insider directly owned 761,345 shares of the company’s stock, valued at $16,947,539.70. The trade was a 0.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 Friday, December 12th, Eagle Point Credit Management sold 114 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.26, for a total value of $2,537.64.
• On Thursday, December 11th, Eagle Point Credit Management sold 1,258 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $23.82, for a total value of $29,965.56.
• On Wednesday, December 10th, Eagle Point Credit Management sold 98 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.24, for a total value of $2,473.52.
• On Friday, December 5th, Eagle Point Credit Management sold 99 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.22, for a total transaction of $2,496.78.
• On Thursday, December 4th, Eagle Point Credit Management sold 48 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.22, for a total transaction of $1,210.56.
• On Monday, December 1st, Eagle Point Credit Management sold 5,054 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.20, for a total transaction of $127,360.80.
• On Friday, November 28th, Eagle Point Credit Management sold 913 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.19, for a total transaction of $22,998.47.
• On Monday, November 24th, Eagle Point Credit Management sold 723 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.19, for a total transaction of $18,212.37.
• On Monday, November 17th, Eagle Point Credit Management sold 718 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.17, for a total value of $18,072.06.
• On Thursday, November 13th, Eagle Point Credit Management sold 733 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.15, for a total value of $18,434.95.

ACRES Commercial Realty Stock Performance

NYSE ACR traded up $0.16 during trading hours on Wednesday, reaching $23.81. The stock had a trading volume of 58,683 shares, compared to its average volume of 50,022. The company has a debt-to-equity ratio of 2.73, a quick ratio of 104.99 and a current ratio of 104.99. ACRES Commercial Realty Corp. has a 52-week low of $14.94 and a 52-week high of $24.45. The stock has a fifty day moving average of $21.25 and a 200 day moving average of $20.04. The stock has a market cap of $173.55 million, a P/E ratio of 24.80 and a beta of 1.21.

ACRES Commercial Realty announced that its board has approved a share repurchase program on Wednesday, October 29th that authorizes the company to buyback $7.50 million in shares. This buyback authorization authorizes the company to reacquire up to 5.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On ACRES Commercial Realty

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets grew its holdings in shares of ACRES Commercial Realty by 120.2% during the third quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company’s stock worth $29,000 after buying an additional 739 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in ACRES Commercial Realty in the 2nd quarter worth approximately $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in ACRES Commercial Realty in the 2nd quarter worth approximately $60,000. Bank of America Corp DE raised its holdings in 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 valued at $66,000 after acquiring an additional 1,926 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in shares of ACRES Commercial Realty during the 2nd quarter worth $93,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

ACR has been the topic of several research reports. Citigroup reissued an “outperform” rating on shares of ACRES Commercial Realty in a research note on Friday, October 31st. JMP Securities set a $24.50 price target on shares of ACRES Commercial Realty in a research note on Friday, October 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of ACRES Commercial Realty in a research report on Monday. Wall Street Zen raised ACRES Commercial Realty from a “strong sell” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Citizens Jmp upped their target price on shares of ACRES Commercial Realty from $23.50 to $24.50 and gave the company a “market outperform” rating in a research report on Friday, October 31st. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, 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.