ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells $11,107.74 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 499 shares of ACRES Commercial Realty stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $22.26, for a total transaction of $11,107.74. Following the transaction, the insider owned 760,846 shares in the company, valued at approximately $16,936,431.96. The trade was a 0.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own at least 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, December 24th, Eagle Point Credit Management sold 455 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.30, for a total value of $10,146.50.
• 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 value 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.
• On Wednesday, December 10th, Eagle Point Credit Management sold 98 shares of ACRES Commercial Realty stock. The shares were 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 stock was 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 shares were 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 shares were 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 shares were sold at an average price of $25.19, for a total transaction of $18,212.37.

ACRES Commercial Realty Stock Down 0.8%

Shares of NYSE ACR traded down $0.18 during mid-day trading on Monday, reaching $21.47. The company had a trading volume of 23,281 shares, compared to its average volume of 35,981. 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 twelve month low of $15.64 and a twelve month high of $24.61. The stock’s 50 day moving average is $21.61 and its 200-day moving average is $20.28. The stock has a market capitalization of $156.52 million, a PE ratio of 22.36 and a beta of 1.21.

ACRES Commercial Realty declared that its Board of Directors has authorized a stock repurchase program on Wednesday, October 29th that permits the company to repurchase $7.50 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On ACRES Commercial Realty

Hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets increased its stake in shares of ACRES Commercial Realty by 120.2% in 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 during the period. JPMorgan Chase & Co. acquired a new stake in ACRES Commercial Realty in the 2nd quarter valued at approximately $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in ACRES Commercial Realty in the 2nd quarter valued at approximately $60,000. Bank of America Corp DE increased its position 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 worth $66,000 after buying an additional 1,926 shares during the period. Finally, Russell Investments Group Ltd. acquired a new position in shares of ACRES Commercial Realty during the second quarter worth approximately $93,000. 40.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ACR shares. Weiss Ratings restated a “hold (c)” rating on shares of ACRES Commercial Realty in a report on Monday, December 22nd. Zacks Research upgraded shares of ACRES Commercial Realty to a “hold” rating in a research note on Friday, December 19th. Citigroup reaffirmed an “outperform” rating on shares of ACRES Commercial Realty in a research note on Friday, October 31st. JMP Securities set a $24.50 price objective on shares of ACRES Commercial Realty in a report on Friday, October 31st. Finally, Wall Street Zen lowered ACRES Commercial Realty from a “hold” rating to a “sell” rating in a report on Saturday, December 20th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, ACRES Commercial Realty currently has a consensus rating of “Moderate Buy” and a consensus target price 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.