Insider Selling: ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells 913 Shares of Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 913 shares of the company’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $25.19, for a total value of $22,998.47. Following the transaction, the insider directly owned 387,463 shares in the company, valued at approximately $9,760,192.97. This trade represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• 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 value of $127,360.80.
• 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 value of $18,212.37.
• On Monday, November 17th, Eagle Point Credit Management sold 718 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.17, for a total value of $18,072.06.
• On Thursday, November 13th, Eagle Point Credit Management sold 733 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.15, for a total transaction of $18,434.95.
• On Wednesday, November 12th, Eagle Point Credit Management sold 2,593 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.80, for a total transaction of $59,120.40.
• On Tuesday, November 11th, Eagle Point Credit Management sold 1,161 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.20, for a total transaction of $25,774.20.
• On Friday, November 7th, Eagle Point Credit Management sold 140 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.15, for a total transaction of $3,521.00.
• On Thursday, November 6th, Eagle Point Credit Management sold 200 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.15, for a total transaction of $5,030.00.
• On Wednesday, November 5th, Eagle Point Credit Management sold 3,637 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.30, for a total transaction of $81,105.10.
• On Tuesday, November 4th, Eagle Point Credit Management sold 352 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.17, for a total transaction of $7,803.84.

ACRES Commercial Realty Stock Down 2.1%

NYSE ACR traded down $0.44 during trading hours on Tuesday, hitting $20.63. The company’s stock had a trading volume of 12,165 shares, compared to its average volume of 39,424. The company has a market capitalization of $150.39 million, a PE ratio of 21.49 and a beta of 1.21. The company has a current ratio of 104.99, a quick ratio of 104.99 and a debt-to-equity ratio of 2.73. ACRES Commercial Realty Corp. has a 52 week low of $14.94 and a 52 week high of $23.81. The company’s 50-day simple moving average is $20.68 and its two-hundred day simple moving average is $19.66.

ACRES Commercial Realty declared that its board has authorized a share buyback plan on Wednesday, October 29th that authorizes the company to repurchase $7.50 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 5.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On ACRES Commercial Realty

Large investors have recently made changes to their positions in the business. Oaktree Capital Management LP purchased a new position in shares of ACRES Commercial Realty in the 3rd quarter worth about $8,282,000. Geode Capital Management LLC increased its holdings 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 buying an additional 76,688 shares during the last quarter. Gratia Capital LLC raised its position in ACRES Commercial Realty by 64.3% in 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 period. Informed Momentum Co LLC purchased a new position in ACRES Commercial Realty in the first quarter valued at about $697,000. Finally, Raymond James Financial Inc. grew its position in shares of ACRES Commercial Realty by 60.6% during 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 during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Citigroup reiterated an “outperform” rating on shares of ACRES Commercial Realty in a report on Friday, October 31st. Citizens Jmp upped their target price on shares of 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. Wall Street Zen upgraded shares of ACRES Commercial Realty from a “strong sell” rating to a “hold” rating in a report on Saturday, November 1st. JMP Securities set a $24.50 price target on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of ACRES Commercial Realty in a research report on Monday. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, ACRES Commercial Realty currently 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.