Insider Selling: ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells 409 Shares of Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 409 shares of ACRES Commercial Realty stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $25.20, for a total transaction of $10,306.80. Following the completion of the sale, the insider directly owned 355,148 shares in the company, valued at approximately $8,949,729.60. This represents a 0.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Major 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 Thursday, February 19th, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.23, for a total value of $2,523.00.
• On Tuesday, February 17th, Eagle Point Credit Management sold 273 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.20, for a total value of $6,060.60.
• 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 Monday, February 2nd, Eagle Point Credit Management sold 5,200 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.11, for a total value of $114,972.00.
• 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 value of $114,194.20.
• On Thursday, January 29th, Eagle Point Credit Management sold 53 shares of ACRES Commercial Realty stock. The shares were 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 shares were sold at an average price of $22.07, for a total value of $15,272.44.

ACRES Commercial Realty Price Performance

Shares of ACRES Commercial Realty stock traded down $0.03 on Thursday, reaching $18.66. The stock had a trading volume of 12,531 shares, compared to its average volume of 23,680. The business’s 50 day moving average is $20.56 and its two-hundred day moving average is $20.71. The company has a current ratio of 104.99, a quick ratio of 104.99 and a debt-to-equity ratio of 2.73. ACRES Commercial Realty Corp. has a 1 year low of $16.51 and a 1 year high of $24.61. The company has a market cap of $136.03 million, a P/E ratio of 19.44 and a beta of 1.19.

ACRES Commercial Realty announced that its board has initiated a stock buyback program on Wednesday, October 29th that permits the company to repurchase $7.50 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On ACRES Commercial Realty

Several institutional investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC purchased a new position in shares of ACRES Commercial Realty during the 1st quarter valued at about $133,000. Goldman Sachs Group Inc. purchased a new position in shares of ACRES Commercial Realty during the first quarter worth approximately $488,000. Jane Street Group LLC lifted its holdings in shares of ACRES Commercial Realty by 190.8% in the 1st quarter. Jane Street Group LLC now owns 38,434 shares of the company’s stock worth $833,000 after acquiring an additional 25,216 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of ACRES Commercial Realty by 16.8% in 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 in the last quarter. Finally, Geode Capital Management LLC boosted its stake 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 purchasing an additional 76,688 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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