ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells $92,142.78 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 3,702 shares of the business’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $24.89, for a total transaction of $92,142.78. Following the transaction, the insider owned 377,809 shares in the company, valued at $9,403,666.01. This trade represents a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, January 13th, Eagle Point Credit Management sold 13,979 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.93, for a total transaction of $348,496.47.
• On Wednesday, December 31st, Eagle Point Credit Management sold 5,000 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.41, for a total transaction of $112,050.00.
• On Wednesday, December 24th, Eagle Point Credit Management sold 455 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.30, for a total transaction of $10,146.50.
• On Tuesday, December 23rd, Eagle Point Credit Management sold 499 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.26, for a total value of $11,107.74.
• On Monday, December 15th, Eagle Point Credit Management sold 1,372 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.26, for a total value of $30,540.72.
• On Friday, December 12th, Eagle Point Credit Management sold 114 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.26, for a total value of $2,537.64.
• On Thursday, December 11th, Eagle Point Credit Management sold 1,258 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $23.82, for a total value of $29,965.56.
• On Wednesday, December 10th, Eagle Point Credit Management sold 98 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.24, for a total value of $2,473.52.
• On Friday, December 5th, Eagle Point Credit Management sold 99 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.22, for a total value of $2,496.78.
• On Thursday, December 4th, Eagle Point Credit Management sold 48 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.22, for a total value of $1,210.56.

ACRES Commercial Realty Stock Up 1.8%

Shares of ACR opened at $20.56 on Friday. The firm has a fifty day moving average price of $21.75 and a 200-day moving average price of $20.54. The company has a current ratio of 104.99, a quick ratio of 104.99 and a debt-to-equity ratio of 2.73. The firm has a market capitalization of $149.85 million, a P/E ratio of 21.41 and a beta of 1.19. ACRES Commercial Realty Corp. has a 12-month low of $15.64 and a 12-month high of $24.61.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ACR. Oaktree Capital Management LP purchased a new stake in shares of ACRES Commercial Realty during the 3rd quarter worth $8,282,000. Vanguard Group Inc. raised its holdings in ACRES Commercial Realty by 3.1% in the third quarter. Vanguard Group Inc. now owns 383,696 shares of the company’s stock worth $8,119,000 after purchasing an additional 11,465 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of ACRES Commercial Realty by 16.8% during the second quarter. Acadian Asset Management LLC now owns 182,679 shares of the company’s stock valued at $3,272,000 after buying an additional 26,226 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of ACRES Commercial Realty by 125.1% in the 2nd quarter. Geode Capital Management LLC now owns 137,996 shares of the company’s stock valued at $2,476,000 after buying an additional 76,688 shares in the last quarter. Finally, Gratia Capital LLC grew its position in shares of ACRES Commercial Realty by 64.3% in the 2nd quarter. Gratia Capital LLC now owns 125,994 shares of the company’s stock worth $2,260,000 after buying an additional 49,312 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on ACR. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ACRES Commercial Realty in a research note on Monday, December 29th. Citigroup restated an “outperform” rating on shares of ACRES Commercial Realty in a report on Friday, October 31st. Zacks Research upgraded ACRES Commercial Realty to a “hold” rating in a report on Friday, December 19th. JMP Securities set a $24.50 price target on ACRES Commercial Realty in a research report on Friday, October 31st. Finally, Wall Street Zen upgraded ACRES Commercial Realty from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, ACRES Commercial Realty has a consensus rating of “Moderate Buy” and an average target price of $24.50.

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.