ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 4,706 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 4,706 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $24.87, for a total transaction of $117,038.22. Following the sale, the insider now directly owns 608,477 shares of the company’s stock, valued at approximately $15,132,822.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 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 Tuesday, August 13th, Eagle Point Credit Management sold 1,309 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.85, for a total transaction of $32,528.65.
• On Friday, August 9th, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.85, for a total transaction of $2,485.00.
• On Wednesday, August 7th, Eagle Point Credit Management sold 4,664 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.71, for a total transaction of $115,247.44.
• On Friday, August 2nd, Eagle Point Credit Management sold 2,635 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.88, for a total transaction of $65,558.80.
• On Wednesday, July 31st, Eagle Point Credit Management sold 15,096 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.86, for a total transaction of $375,286.56.
• On Monday, July 29th, Eagle Point Credit Management sold 376 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.75, for a total transaction of $9,306.00.
• On Tuesday, July 23rd, Eagle Point Credit Management sold 386 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.75, for a total transaction of $9,553.50.
• On Thursday, July 25th, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.75, for a total transaction of $2,475.00.
• On Monday, July 15th, Eagle Point Credit Management sold 679 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.67, for a total transaction of $16,750.93.
• On Thursday, July 11th, Eagle Point Credit Management sold 1,900 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.63, for a total transaction of $46,797.00.

ACRES Commercial Realty Stock Performance

Shares of ACRES Commercial Realty stock traded down $0.48 on Thursday, hitting $15.30. 45,722 shares of the company’s stock were exchanged, compared to its average volume of 23,230. The company has a 50-day simple moving average of $13.76 and a 200-day simple moving average of $12.81. The stock has a market capitalization of $121.77 million, a PE ratio of 21.74 and a beta of 2.04. ACRES Commercial Realty Corp. has a 1 year low of $6.62 and a 1 year high of $16.13. The company has a debt-to-equity ratio of 3.56, a quick ratio of 100.49 and a current ratio of 100.49.

Wall Street Analyst Weigh In

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

Institutional Trading of ACRES Commercial Realty

Several institutional investors and hedge funds have recently modified their holdings of the company. Ritholtz Wealth Management raised its position in shares of ACRES Commercial Realty by 17.0% during the 2nd quarter. Ritholtz Wealth Management now owns 20,944 shares of the company’s stock valued at $267,000 after purchasing an additional 3,043 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of ACRES Commercial Realty during the 1st quarter valued at $172,000. Biltmore Family Office LLC bought a new stake in shares of ACRES Commercial Realty during the 2nd quarter valued at $160,000. Acadian Asset Management LLC raised its position 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 valued at $1,480,000 after purchasing an additional 16,986 shares during the period. Finally, O Shaughnessy Asset Management LLC bought a new stake in shares of ACRES Commercial Realty during the 1st quarter valued at $580,000. 40.03% of the stock is currently owned by institutional investors.

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.