ACRES Commercial Realty (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 692 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 692 shares of the company’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $22.07, for a total value of $15,272.44. Following the completion of the sale, the insider owned 754,699 shares of the company’s stock, valued at approximately $16,656,206.93. The trade was a 0.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 Friday, January 23rd, Eagle Point Credit Management sold 1,100 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.02, for a total transaction of $24,222.00.
• On Wednesday, January 14th, Eagle Point Credit Management sold 5,400 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.99, for a total transaction of $134,946.00.
• On Friday, January 9th, Eagle Point Credit Management sold 3,702 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.89, for a total transaction of $92,142.78.
• On Tuesday, January 13th, Eagle Point Credit Management sold 13,979 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.93, for a total transaction of $348,496.47.
• On Wednesday, December 31st, Eagle Point Credit Management sold 5,000 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.41, for a total transaction of $112,050.00.
• On Wednesday, December 24th, Eagle Point Credit Management sold 455 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.30, for a total transaction of $10,146.50.
• On Tuesday, December 23rd, Eagle Point Credit Management sold 499 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.26, for a total transaction of $11,107.74.
• On Monday, December 15th, Eagle Point Credit Management sold 1,372 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.26, for a total transaction of $30,540.72.
• 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.

ACRES Commercial Realty Trading Down 0.9%

ACR stock traded down $0.17 during midday trading on Friday, hitting $19.96. 37,344 shares of the company’s stock were exchanged, compared to its average volume of 16,910. ACRES Commercial Realty Corp. has a 1-year low of $15.64 and a 1-year high of $24.61. The company has a current ratio of 104.99, a quick ratio of 104.99 and a debt-to-equity ratio of 2.73. The stock has a market capitalization of $145.49 million, a PE ratio of 20.79 and a beta of 1.19. The business has a 50-day simple moving average of $21.62 and a two-hundred day simple moving average of $20.62.

ACRES Commercial Realty announced that its Board of Directors has initiated a share repurchase program on Wednesday, October 29th that allows the company to buyback $7.50 million in shares. This buyback authorization allows the company to purchase up to 5.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have weighed in on ACR. JMP Securities set a $24.50 target price on shares of ACRES Commercial Realty in a research note on Friday, October 31st. Zacks Research upgraded shares of ACRES Commercial Realty to a “hold” rating in a report on Friday, December 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of ACRES Commercial Realty in a report on Monday, December 29th. Citigroup reissued an “outperform” rating on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Finally, Citizens Jmp upped their price target on ACRES Commercial Realty from $23.50 to $24.50 and gave the stock a “market outperform” rating in a research note on Friday, October 31st. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, ACRES Commercial Realty currently has an average rating of “Moderate Buy” and an average price target of $24.50.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ACR. Oaktree Capital Management LP acquired a new stake in ACRES Commercial Realty during the 3rd quarter worth approximately $8,282,000. Vanguard Group Inc. grew its stake in shares of ACRES Commercial Realty by 3.1% in the third quarter. Vanguard Group Inc. now owns 383,696 shares of the company’s stock worth $8,119,000 after acquiring an additional 11,465 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of ACRES Commercial Realty by 16.8% during the second quarter. Acadian Asset Management LLC now owns 182,679 shares of the company’s stock worth $3,272,000 after acquiring an additional 26,226 shares during the period. Geode Capital Management LLC raised its stake in shares of ACRES Commercial Realty by 125.1% in the second quarter. Geode Capital Management LLC now owns 137,996 shares of the company’s stock valued at $2,476,000 after acquiring an additional 76,688 shares in the last quarter. Finally, Gratia Capital LLC boosted 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 valued at $2,260,000 after purchasing an additional 49,312 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

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.