Insider Selling: ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells 2,089 Shares of Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 2,089 shares of the company’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $25.19, for a total transaction of $52,621.91. Following the completion of the transaction, the insider owned 391,557 shares of the company’s stock, valued at $9,863,320.83. This represents a 0.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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, November 4th, Eagle Point Credit Management sold 352 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.17, for a total transaction of $7,803.84.
• On Wednesday, October 29th, Eagle Point Credit Management sold 772 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.10, for a total transaction of $17,061.20.
• On Tuesday, October 28th, Eagle Point Credit Management sold 200 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.07, for a total transaction of $4,414.00.
• On Tuesday, September 30th, Eagle Point Credit Management sold 2,500 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.68, for a total transaction of $56,700.00.
• On Wednesday, September 24th, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.60, for a total transaction of $2,260.00.
• On Monday, September 22nd, Eagle Point Credit Management sold 126 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.63, for a total transaction of $2,851.38.
• On Friday, September 19th, Eagle Point Credit Management sold 402 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.62, for a total transaction of $9,093.24.
• On Thursday, September 18th, Eagle Point Credit Management sold 2,456 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.61, for a total transaction of $55,530.16.
• On Wednesday, September 17th, Eagle Point Credit Management sold 2,825 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.61, for a total transaction of $63,873.25.
• On Tuesday, September 16th, Eagle Point Credit Management sold 10,062 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.57, for a total transaction of $227,099.34.

ACRES Commercial Realty Stock Performance

Shares of NYSE:ACR traded up $0.06 on Tuesday, reaching $21.48. The company’s stock had a trading volume of 28,186 shares, compared to its average volume of 34,050. The stock’s 50-day moving average is $20.58 and its two-hundred day moving average is $19.25. ACRES Commercial Realty Corp. has a 52-week low of $14.94 and a 52-week high of $23.81. The company has a debt-to-equity ratio of 3.01, a current ratio of 69.53 and a quick ratio of 69.53. The stock has a market capitalization of $159.54 million, a P/E ratio of -1,073.66 and a beta of 1.80.

ACRES Commercial Realty announced that its Board of Directors has approved a share repurchase plan on Wednesday, October 29th that allows the company to repurchase $7.50 million in shares. This repurchase authorization allows the company to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Institutional Trading of ACRES Commercial Realty

Several large investors have recently modified their holdings of ACR. Acadian Asset Management LLC boosted its position in 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 last quarter. Geode Capital Management LLC boosted its position in ACRES Commercial Realty by 125.1% during the second quarter. Geode Capital Management LLC now owns 137,996 shares of the company’s stock worth $2,476,000 after acquiring an additional 76,688 shares during the last quarter. Gratia Capital LLC boosted its position in ACRES Commercial Realty by 64.3% during the second quarter. Gratia Capital LLC now owns 125,994 shares of the company’s stock worth $2,260,000 after acquiring an additional 49,312 shares during the last quarter. Raymond James Financial Inc. boosted its position in ACRES Commercial Realty by 60.6% during the second quarter. Raymond James Financial Inc. now owns 78,150 shares of the company’s stock worth $1,402,000 after acquiring an additional 29,503 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its position in ACRES Commercial Realty by 18.6% during the third quarter. Ritholtz Wealth Management now owns 40,199 shares of the company’s stock worth $851,000 after acquiring an additional 6,310 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ACR. 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 report on Friday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ACRES Commercial Realty in a report on Wednesday, October 8th. Citigroup reissued an “outperform” rating on shares of ACRES Commercial Realty in a report on Friday. Wall Street Zen raised shares of ACRES Commercial Realty from a “strong sell” rating to a “hold” rating in a report on Saturday. Finally, JMP Securities set a $24.50 price target on shares of ACRES Commercial Realty in a report on Friday. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.