Insider Selling: ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells 849 Shares of Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 849 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $25.47, for a total value of $21,624.03. Following the completion of the transaction, the insider owned 343,036 shares of the company’s stock, valued at approximately $8,737,126.92. This represents a 0.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Thursday, June 11th, Eagle Point Credit Management sold 215 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.47, for a total value of $5,476.05.
• On Wednesday, June 10th, Eagle Point Credit Management sold 1,527 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.56, for a total value of $34,449.12.
• 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 Monday, June 1st, Eagle Point Credit Management sold 5,806 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.41, for a total value of $147,530.46.
• 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 stock was 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 Price Performance

NYSE ACR traded up $0.04 during trading hours on Friday, hitting $18.06. The company had a trading volume of 28,365 shares, compared to its average volume of 21,506. ACRES Commercial Realty Corp. has a 52 week low of $17.06 and a 52 week high of $24.61. The firm has a 50 day simple moving average of $19.99 and a 200 day simple moving average of $20.16. The company has a debt-to-equity ratio of 3.36, a quick ratio of 164.62 and a current ratio of 164.62. The firm has a market capitalization of $128.77 million, a price-to-earnings ratio of 27.79 and a beta of 1.07.

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Wall Street Zen raised ACRES Commercial Realty from a “strong sell” rating to a “sell” rating in a report on Saturday, April 18th. Weiss Ratings raised ACRES Commercial Realty from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, ACRES Commercial Realty currently has an average rating of “Moderate Buy” and an average target price of $24.50.

Institutional Trading of ACRES Commercial Realty

Several institutional investors and hedge funds have recently modified their holdings of ACR. Eagle Point Credit Management LLC purchased a new stake in shares of ACRES Commercial Realty in the 4th quarter valued at about $25,118,000. Oaktree Capital Management LP purchased a new stake in shares of ACRES Commercial Realty in the 3rd quarter valued at about $8,282,000. Geode Capital Management LLC raised its holdings in shares of ACRES Commercial Realty by 125.1% in the 2nd 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. Raymond James Financial Inc. raised its holdings in shares of ACRES Commercial Realty by 60.6% in the 2nd quarter. Raymond James Financial Inc. now owns 78,150 shares of the company’s stock valued at $1,402,000 after acquiring an additional 29,503 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of ACRES Commercial Realty by 190.8% during the 1st quarter. Jane Street Group LLC now owns 38,434 shares of the company’s stock valued at $833,000 after buying an additional 25,216 shares in the last quarter. Hedge funds and other institutional investors 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.