Eagle Point Credit Management Sells 854 Shares of ACRES Commercial Realty Corp. (NYSE:ACR) Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 854 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $22.45, for a total value of $19,172.30. Following the sale, the insider now owns 865,612 shares in the company, valued at approximately $19,432,989.40. The trade was a 0.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Wednesday, March 19th, Eagle Point Credit Management sold 9,937 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $23.08, for a total value of $229,345.96.
• 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 transaction 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 transaction 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 transaction 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.

ACRES Commercial Realty Stock Up 1.0 %

ACRES Commercial Realty stock opened at $21.41 on Friday. The firm has a market capitalization of $159.63 million, a price-to-earnings ratio of 25.49 and a beta of 2.12. The firm’s fifty day moving average price is $19.91 and its two-hundred day moving average price is $17.49. ACRES Commercial Realty Corp. has a 1-year low of $12.33 and a 1-year high of $23.81. The company has a current ratio of 73.84, a quick ratio of 73.84 and a debt-to-equity ratio of 3.33.

Institutional Investors Weigh In On ACRES Commercial Realty

A number of institutional investors and hedge funds have recently made changes to their positions in ACR. Barclays PLC increased its holdings in ACRES Commercial Realty by 147.1% during the 3rd quarter. Barclays PLC now owns 3,499 shares of the company’s stock worth $55,000 after purchasing an additional 2,083 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of ACRES Commercial Realty during the third quarter valued at approximately $177,000. Northern Trust Corp grew its holdings in ACRES Commercial Realty by 32.5% during the fourth quarter. Northern Trust Corp now owns 39,671 shares of the company’s stock worth $641,000 after buying an additional 9,738 shares in the last quarter. Nokomis Capital L.L.C. raised its position in ACRES Commercial Realty by 1.1% in the 4th quarter. Nokomis Capital L.L.C. now owns 264,597 shares of the company’s stock valued at $4,273,000 after buying an additional 2,889 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in ACRES Commercial Realty during the 4th quarter valued at $829,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

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

About ACRES Commercial Realty

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.