Eagle Point Credit Management Sells 5,200 Shares of ACRES Commercial Realty (NYSE:ACR) Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 5,200 shares of ACRES Commercial Realty stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $22.11, for a total transaction of $114,972.00. Following the transaction, the insider directly owned 746,233 shares of the company’s stock, valued at approximately $16,499,211.63. This trade represents a 0.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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, February 4th, Eagle Point Credit Management sold 97 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.12, for a total transaction of $2,145.64.
• On Tuesday, February 3rd, Eagle Point Credit Management sold 49 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.42, for a total transaction of $1,098.58.
• On Friday, January 30th, Eagle Point Credit Management sold 4,780 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $23.89, for a total transaction of $114,194.20.
• On Thursday, January 29th, Eagle Point Credit Management sold 53 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.10, for a total value of $1,171.30.
• On Wednesday, January 28th, Eagle Point Credit Management sold 201 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.10, for a total value of $4,442.10.
• On Friday, January 23rd, Eagle Point Credit Management sold 1,100 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.02, for a total value of $24,222.00.
• On Wednesday, January 21st, Eagle Point Credit Management sold 692 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.07, for a total value of $15,272.44.
• On Wednesday, January 14th, Eagle Point Credit Management sold 5,400 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.99, for a total value of $134,946.00.
• On Friday, January 9th, Eagle Point Credit Management sold 3,702 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.89, for a total value of $92,142.78.
• 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 value of $348,496.47.

ACRES Commercial Realty Stock Down 2.0%

ACRES Commercial Realty stock traded down $0.39 during mid-day trading on Wednesday, reaching $18.88. The stock had a trading volume of 21,573 shares, compared to its average volume of 22,968. ACRES Commercial Realty Corp. has a one year low of $16.51 and a one year high of $24.61. The company has a 50-day moving average price of $21.38 and a two-hundred day moving average price of $20.75. The company has a market capitalization of $137.60 million, a price-to-earnings ratio of 19.66 and a beta of 1.19. The company has a debt-to-equity ratio of 2.73, a current ratio of 104.99 and a quick ratio of 104.99.

ACRES Commercial Realty declared that its Board of Directors has initiated a stock repurchase program on Wednesday, October 29th that permits the company to repurchase $7.50 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 5.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On ACRES Commercial Realty

A number of institutional investors and hedge funds have recently modified their holdings of the company. Cubist Systematic Strategies LLC bought a new stake in shares of ACRES Commercial Realty in the first quarter worth $133,000. Goldman Sachs Group Inc. purchased a new position in ACRES Commercial Realty in the first quarter worth about $488,000. Jane Street Group LLC boosted its position in ACRES Commercial Realty by 190.8% in the first quarter. Jane Street Group LLC now owns 38,434 shares of the company’s stock worth $833,000 after purchasing an additional 25,216 shares during the last quarter. Ritholtz Wealth Management grew its stake in shares of ACRES Commercial Realty by 12.0% during the 2nd quarter. Ritholtz Wealth Management now owns 33,889 shares of the company’s stock valued at $608,000 after purchasing an additional 3,618 shares during the period. Finally, Acadian Asset Management LLC increased its position in shares of ACRES Commercial Realty by 16.8% during the 2nd quarter. Acadian Asset Management LLC now owns 182,679 shares of the company’s stock valued at $3,272,000 after purchasing an additional 26,226 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

A number of equities analysts recently weighed in on ACR shares. Wall Street Zen upgraded shares of ACRES Commercial Realty from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Weiss Ratings reissued a “hold (c)” rating on shares of ACRES Commercial Realty in a report on Monday, December 29th. Citizens Jmp upped their price target on ACRES Commercial Realty from $23.50 to $24.50 and gave the company a “market outperform” rating in a report on Friday, October 31st. JMP Securities set a $24.50 price objective on ACRES Commercial Realty in a research report on Friday, October 31st. Finally, Citigroup reissued an “outperform” rating on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $24.50.

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.