ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Sells $229,345.96 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 9,937 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $23.08, for a total transaction of $229,345.96. Following the completion of the sale, the insider now directly owns 866,466 shares of the company’s stock, valued at $19,998,035.28. The trade was a 1.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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, March 13th, Eagle Point Credit Management sold 8,657 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.47, for a total transaction of $194,522.79.
• On Thursday, January 30th, Eagle Point Credit Management sold 811 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.90, for a total value of $20,193.90.
• On Wednesday, January 22nd, Eagle Point Credit Management sold 7,335 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.40, for a total value of $164,304.00.
• On Monday, December 30th, Eagle Point Credit Management sold 200 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.20, for a total value of $5,040.00.
• On Thursday, December 26th, Eagle Point Credit Management sold 420 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.20, for a total transaction of $10,584.00.
• On Monday, December 23rd, Eagle Point Credit Management sold 2,388 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.20, for a total transaction of $60,177.60.

ACRES Commercial Realty Price Performance

Shares of NYSE ACR opened at $21.75 on Monday. ACRES Commercial Realty Corp. has a fifty-two week low of $12.30 and a fifty-two week high of $23.81. The company has a debt-to-equity ratio of 3.33, a quick ratio of 73.84 and a current ratio of 73.84. The company has a market cap of $162.13 million, a PE ratio of 25.89 and a beta of 2.12. The business has a 50-day simple moving average of $19.57 and a two-hundred day simple moving average of $17.34.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. JMP Securities increased their target price on shares of ACRES Commercial Realty to $22.00 and gave the company a “buy” rating in a research report on Friday, March 7th. Jones Trading reiterated a “hold” rating on shares of ACRES Commercial Realty in a report on Thursday, March 13th.

Institutional Trading of ACRES Commercial Realty

A number of institutional investors have recently bought and sold shares of ACR. Barclays PLC increased its stake in ACRES Commercial Realty by 147.1% during the 3rd quarter. Barclays PLC now owns 3,499 shares of the company’s stock valued at $55,000 after purchasing an additional 2,083 shares in the last quarter. Sei Investments Co. acquired a new position in shares of ACRES Commercial Realty in the 4th quarter valued at $162,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in ACRES Commercial Realty in the 3rd quarter worth $177,000. Jane Street Group LLC purchased a new position in ACRES Commercial Realty in the 4th quarter worth $213,000. Finally, Biltmore Family Office LLC lifted its position in ACRES Commercial Realty by 24.8% during the 3rd quarter. Biltmore Family Office LLC now owns 15,600 shares of the company’s stock worth $244,000 after acquiring an additional 3,100 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

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.