Insider Selling: ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Sells $30,008.00 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 1,210 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $24.80, for a total value of $30,008.00. Following the completion of the transaction, the insider now directly owns 651,309 shares in the company, valued at $16,152,463.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more 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 Wednesday, July 3rd, Eagle Point Credit Management sold 2,220 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.67, for a total value of $54,767.40.
• On Thursday, June 27th, Eagle Point Credit Management sold 18,464 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.00, for a total value of $461,600.00.
• On Tuesday, June 25th, Eagle Point Credit Management sold 7,005 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.01, for a total value of $175,195.05.

ACRES Commercial Realty Stock Performance

Shares of NYSE ACR opened at $13.53 on Thursday. The company has a debt-to-equity ratio of 3.67, a quick ratio of 90.61 and a current ratio of 90.61. The firm has a market cap of $107.70 million, a price-to-earnings ratio of 19.33 and a beta of 2.04. The business’s 50-day simple moving average is $13.06 and its 200-day simple moving average is $11.98. ACRES Commercial Realty Corp. has a 52 week low of $6.62 and a 52 week high of $14.35.

ACRES Commercial Realty (NYSE:ACR) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.25). The company had revenue of $18.77 million for the quarter, compared to analyst estimates of $13.00 million. ACRES Commercial Realty had a net margin of 28.51% and a return on equity of 7.76%. During the same period in the prior year, the company posted $0.42 EPS. As a group, equities research analysts expect that ACRES Commercial Realty Corp. will post 1.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ACR. Nokomis Capital L.L.C. acquired a new stake in ACRES Commercial Realty in the 1st quarter valued at approximately $3,729,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of ACRES Commercial Realty during the 1st quarter worth approximately $580,000. Acadian Asset Management LLC grew its holdings in shares of ACRES Commercial Realty by 19.2% during the 1st quarter. Acadian Asset Management LLC now owns 105,420 shares of the company’s stock worth $1,480,000 after purchasing an additional 16,986 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of ACRES Commercial Realty during the 1st quarter worth approximately $172,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JMP Securities upped their target price on ACRES Commercial Realty from $14.00 to $15.50 and gave the stock a “market outperform” rating in a research report on Tuesday, April 30th.

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.