ACRES Commercial Realty (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 2,076 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 2,076 shares of the stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $22.50, for a total value of $46,710.00. Following the completion of the transaction, the insider directly owned 731,230 shares in the company, valued at $16,452,675. This represents a 0.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% 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 Monday, June 15th, Eagle Point Credit Management sold 5,981 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.37, for a total value of $145,756.97.
• On Friday, June 12th, Eagle Point Credit Management sold 849 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.47, for a total transaction of $21,624.03.
• On Thursday, June 11th, Eagle Point Credit Management sold 215 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.47, for a total transaction of $5,476.05.
• On Wednesday, June 10th, Eagle Point Credit Management sold 1,527 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.56, for a total transaction of $34,449.12.
• On Wednesday, June 3rd, Eagle Point Credit Management sold 422 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.55, for a total transaction of $9,516.10.
• On Monday, June 1st, Eagle Point Credit Management sold 5,806 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.41, for a total value of $147,530.46.
• On Wednesday, May 20th, Eagle Point Credit Management sold 404 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.50, for a total value of $9,090.00.
• On Monday, March 30th, Eagle Point Credit Management sold 1,095 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.12, for a total value of $24,221.40.

ACRES Commercial Realty Stock Up 6.1%

Shares of ACR stock opened at $18.07 on Friday. ACRES Commercial Realty Corp. has a twelve month low of $15.61 and a twelve month high of $24.61. The stock has a market cap of $128.82 million, a P/E ratio of 27.79 and a beta of 1.07. The stock has a 50 day moving average of $19.51 and a 200 day moving average of $19.82. The company has a current ratio of 164.62, a quick ratio of 164.62 and a debt-to-equity ratio of 3.36.

ACRES Commercial Realty (NYSE:ACR) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.02 EPS for the quarter, hitting analysts’ consensus estimates of $0.02. ACRES Commercial Realty had a net margin of 37.20% and a return on equity of 5.61%. The business had revenue of $17.82 million for the quarter, compared to analysts’ expectations of $20.55 million. As a group, sell-side analysts expect that ACRES Commercial Realty Corp. will post 0.15 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ACR shares. Wall Street Zen raised ACRES Commercial Realty from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings raised shares of ACRES Commercial Realty from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, ACRES Commercial Realty currently has an average rating of “Moderate Buy” and a consensus price target of $24.50.

Institutional Trading of ACRES Commercial Realty

Institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its holdings in ACRES Commercial Realty by 120.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company’s stock valued at $29,000 after purchasing an additional 739 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of ACRES Commercial Realty in the second quarter valued at about $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of ACRES Commercial Realty in the second quarter worth about $60,000. MetLife Investment Management LLC acquired a new position in ACRES Commercial Realty during the fourth quarter worth about $76,000. Finally, Bank of America Corp DE grew its stake in ACRES Commercial Realty by 110.4% during the 2nd quarter. Bank of America Corp DE now owns 3,671 shares of the company’s stock valued at $66,000 after acquiring an additional 1,926 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

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.