Insider Selling: ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells $51,531.20 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 2,140 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $24.08, for a total value of $51,531.20. Following the completion of the sale, the insider directly owned 349,907 shares in the company, valued at $8,425,760.56. This trade represents a 0.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, March 3rd, Eagle Point Credit Management sold 3,142 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $21.80, for a total value of $68,495.60.
• On Thursday, February 26th, Eagle Point Credit Management sold 1,301 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.28, for a total value of $32,889.28.
• On Wednesday, February 25th, Eagle Point Credit Management sold 1,800 shares of ACRES Commercial Realty stock. The stock was 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 shares were sold at an average price of $25.25, for a total transaction 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 transaction 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 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 transaction of $114,972.00.

ACRES Commercial Realty Stock Performance

ACR stock opened at $19.01 on Friday. The stock’s 50 day simple moving average is $19.50 and its 200 day simple moving average is $20.62. 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 12-month low of $16.51 and a 12-month high of $24.61. The stock has a market capitalization of $138.58 million, a PE ratio of 1,902.90 and a beta of 1.19.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ACR. Wall Street Zen cut ACRES Commercial Realty from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Zacks Research raised ACRES Commercial Realty to a “hold” rating in a research report on Friday, December 19th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ACRES Commercial Realty in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, ACRES Commercial Realty presently has a consensus rating of “Hold” and an average target price of $24.50.

Hedge Funds Weigh In On ACRES Commercial Realty

Hedge funds and other institutional investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC purchased a new position in shares of ACRES Commercial Realty in the 1st quarter worth $133,000. Goldman Sachs Group Inc. purchased a new stake in ACRES Commercial Realty during the first quarter valued at $488,000. Jane Street Group LLC increased its position in ACRES Commercial Realty by 190.8% during the first quarter. Jane Street Group LLC now owns 38,434 shares of the company’s stock valued at $833,000 after acquiring an additional 25,216 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in ACRES Commercial Realty by 16.8% in the second quarter. Acadian Asset Management LLC now owns 182,679 shares of the company’s stock valued at $3,272,000 after acquiring an additional 26,226 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in ACRES Commercial Realty by 125.1% in the second quarter. Geode Capital Management LLC now owns 137,996 shares of the company’s stock valued at $2,476,000 after acquiring an additional 76,688 shares during the period. 40.03% of the stock is owned by institutional investors.

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.