ACRES Commercial Realty (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 5,806 Shares of Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 5,806 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $25.41, for a total transaction of $147,530.46. Following the completion of the sale, the insider directly owned 344,106 shares of the company’s stock, valued at approximately $8,743,733.46. The trade was a 1.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large 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, June 3rd, Eagle Point Credit Management sold 422 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.55, for a total value of $9,516.10.
• 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 shares were sold at an average price of $22.12, for a total value of $24,221.40.
• On Monday, March 16th, Eagle Point Credit Management sold 2,954 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.07, for a total value of $65,194.78.

ACRES Commercial Realty Stock Down 6.3%

Shares of ACR opened at $19.11 on Thursday. The firm has a fifty day moving average price of $20.06 and a 200-day moving average price of $20.27. The company has a current ratio of 164.62, a quick ratio of 164.62 and a debt-to-equity ratio of 3.36. The firm has a market capitalization of $136.27 million, a P/E ratio of 29.40 and a beta of 1.07. ACRES Commercial Realty Corp. has a 12-month low of $17.06 and a 12-month high of $24.61.

ACRES Commercial Realty (NYSE:ACR) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. ACRES Commercial Realty had a net margin of 37.20% and a return on equity of 5.61%. The company had revenue of $17.82 million during the quarter, compared to analysts’ expectations of $20.55 million. Equities research analysts expect that ACRES Commercial Realty Corp. will post 0.25 earnings per share for the current year.

Institutional Trading of ACRES Commercial Realty

Hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets increased its position 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 purchasing an additional 739 shares in the last quarter. Barclays PLC increased its position in ACRES Commercial Realty by 10.8% during the 4th quarter. Barclays PLC now owns 9,610 shares of the company’s stock valued at $205,000 after buying an additional 939 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in ACRES Commercial Realty by 2.3% in the first quarter. Janney Montgomery Scott LLC now owns 46,278 shares of the company’s stock valued at $894,000 after buying an additional 1,019 shares during the last quarter. Bank of America Corp DE boosted its holdings in ACRES Commercial Realty by 110.4% in the second 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 in the last quarter. Finally, Raymond James Financial Inc. boosted its holdings in ACRES Commercial Realty by 2.5% in the third quarter. Raymond James Financial Inc. now owns 80,129 shares of the company’s stock worth $1,696,000 after acquiring an additional 1,979 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ACR has been the topic of several research reports. Wall Street Zen upgraded ACRES Commercial Realty from a “strong sell” rating to a “sell” rating in a research note 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 investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, ACRES Commercial Realty has an average rating of “Moderate Buy” and a consensus target price of $24.50.

ACRES Commercial Realty Company Profile

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.