Eagle Point Credit Management Sells 553 Shares of ACRES Commercial Realty Corp. (NYSE:ACR) Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 553 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $22.30, for a total value of $12,331.90. Following the sale, the insider now owns 858,572 shares in the company, valued at approximately $19,146,155.60. This represents a 0.06% 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 more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Eagle Point Credit Management also recently made the following trade(s):

• On Tuesday, June 17th, Eagle Point Credit Management sold 11,071 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.39, for a total value of $247,879.69.
• On Friday, June 13th, Eagle Point Credit Management sold 400 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.25, for a total value of $8,900.00.
• On Friday, March 28th, Eagle Point Credit Management sold 1,172 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.48, for a total value of $26,346.56.
• On Wednesday, March 26th, Eagle Point Credit Management sold 3,384 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.48, for a total value of $76,072.32.
• On Monday, March 24th, Eagle Point Credit Management sold 854 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.45, for a total value of $19,172.30.
• On Wednesday, March 19th, Eagle Point Credit Management sold 9,937 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $23.08, for a total value of $229,345.96.

ACRES Commercial Realty Trading Up 0.3%

NYSE ACR opened at $17.77 on Friday. The stock’s 50-day simple moving average is $18.19 and its two-hundred day simple moving average is $18.59. ACRES Commercial Realty Corp. has a twelve month low of $12.70 and a twelve month high of $23.81. The company has a quick ratio of 88.11, a current ratio of 88.11 and a debt-to-equity ratio of 2.89. The company has a market capitalization of $131.32 million, a price-to-earnings ratio of 61.28 and a beta of 1.75.

ACRES Commercial Realty (NYSE:ACR) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.97) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($1.15). ACRES Commercial Realty had a net margin of 22.98% and a return on equity of 2.95%. The firm had revenue of $5.60 million for the quarter, compared to analysts’ expectations of $19.89 million. Research analysts forecast that ACRES Commercial Realty Corp. will post 0.78 EPS for the current fiscal year.

Institutional Investors Weigh In On ACRES Commercial Realty

Large investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC purchased a new stake in ACRES Commercial Realty during the first quarter valued at about $133,000. Sei Investments Co. purchased a new stake in ACRES Commercial Realty during the fourth quarter valued at about $162,000. Jane Street Group LLC purchased a new stake in ACRES Commercial Realty during the fourth quarter valued at about $213,000. Biltmore Family Office LLC raised its position in ACRES Commercial Realty by 41.7% during the fourth quarter. Biltmore Family Office LLC now owns 22,104 shares of the company’s stock valued at $357,000 after purchasing an additional 6,504 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in ACRES Commercial Realty during the fourth quarter valued at about $412,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Jones Trading reiterated a “hold” rating on shares of ACRES Commercial Realty in a research report on Thursday, March 13th. JMP Securities increased their price objective on ACRES Commercial Realty to $22.00 and gave the stock a “buy” rating in a research report on Friday, March 7th.

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.