Eagle Point Credit Management Sells 1,301 Shares of ACRES Commercial Realty (NYSE:ACR) Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 1,301 shares of the business’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $25.28, for a total transaction of $32,889.28. Following the sale, the insider directly owned 351,347 shares of the company’s stock, valued at approximately $8,882,052.16. The trade was a 0.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% 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 Wednesday, February 25th, Eagle Point Credit Management sold 1,800 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.25, for a total value of $45,450.00.
• On Tuesday, February 24th, Eagle Point Credit Management sold 600 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.25, for a total value of $15,150.00.
• 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 Wednesday, February 18th, Eagle Point Credit Management sold 409 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.20, for a total transaction of $10,306.80.
• 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 transaction of $6,060.60.
• On Wednesday, February 4th, Eagle Point Credit Management sold 97 shares of ACRES Commercial Realty stock. The shares were 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 value 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 stock was sold at an average price of $22.10, for a total value of $1,171.30.

ACRES Commercial Realty Trading Down 0.6%

Shares of ACR opened at $18.55 on Friday. The firm has a market cap of $135.12 million, a P/E ratio of 19.32 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 Corp. has a 1 year low of $16.51 and a 1 year high of $24.61. The company has a 50 day simple moving average of $19.85 and a two-hundred day simple moving average of $20.66.

Institutional Investors Weigh In On ACRES Commercial Realty

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACR. Royal Bank of Canada lifted its stake in shares of ACRES Commercial Realty by 524.2% in the 4th quarter. Royal Bank of Canada now owns 5,349 shares of the company’s stock valued at $114,000 after purchasing an additional 4,492 shares during the last quarter. Barclays PLC raised its holdings in ACRES Commercial Realty by 10.8% during the 4th quarter. Barclays PLC now owns 9,610 shares of the company’s stock valued at $205,000 after buying an additional 939 shares during the period. State Street Corp lifted its position in ACRES Commercial Realty by 8.5% in the fourth quarter. State Street Corp now owns 86,053 shares of the company’s stock worth $1,836,000 after buying an additional 6,713 shares during the last quarter. Wells Fargo & Company MN boosted its stake in ACRES Commercial Realty by 49.6% during the fourth quarter. Wells Fargo & Company MN now owns 6,883 shares of the company’s stock worth $147,000 after buying an additional 2,281 shares during the period. Finally, MetLife Investment Management LLC purchased a new position in ACRES Commercial Realty during the fourth quarter worth $76,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ACR has been the topic of several research analyst reports. Zacks Research upgraded shares of ACRES Commercial Realty to a “hold” rating in a research note on Friday, December 19th. Citizens Jmp set a $24.50 target price on ACRES Commercial Realty in a report on Friday, October 31st. Citigroup reissued an “outperform” rating on shares of ACRES Commercial Realty in a research note on Friday, October 31st. Wall Street Zen cut ACRES Commercial Realty from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of ACRES Commercial Realty in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently 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.