ACRES Commercial Realty (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 2,954 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 2,954 shares of the company’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $22.07, for a total value of $65,194.78. Following the sale, the insider owned 739,023 shares of the company’s stock, valued at approximately $16,310,237.61. This represents a 0.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more 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 Monday, March 2nd, Eagle Point Credit Management sold 2,140 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.08, for a total value of $51,531.20.
• 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 transaction 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 transaction 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.

ACRES Commercial Realty Price Performance

Shares of NYSE ACR traded down $0.16 during midday trading on Thursday, reaching $18.87. 473 shares of the company were exchanged, compared to its average volume of 22,119. The stock’s 50-day moving average price is $19.20 and its 200-day moving average price is $20.53. The stock has a market cap of $134.51 million, a P/E ratio of 1,888.39 and a beta of 1.19. The company has a quick ratio of 135.18, a current ratio of 135.18 and a debt-to-equity ratio of 2.81. ACRES Commercial Realty Corp. has a one year low of $16.51 and a one year high of $24.61.

Wall Street Analyst Weigh In

ACR has been the subject of a number of recent research reports. Zacks Research raised ACRES Commercial Realty to a “hold” rating in a report on Friday, December 19th. Weiss Ratings lowered ACRES Commercial Realty from a “hold (c)” rating to a “sell (d+)” rating in a research note on Wednesday, March 11th. Finally, Wall Street Zen cut ACRES Commercial Realty from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $24.50.

Institutional Trading of ACRES Commercial Realty

Several institutional investors have recently modified their holdings of ACR. Cubist Systematic Strategies LLC acquired a new stake in ACRES Commercial Realty in the first quarter valued at $133,000. Goldman Sachs Group Inc. acquired a new position in ACRES Commercial Realty during the 1st quarter worth about $488,000. Jane Street Group LLC grew its position 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 valued at $833,000 after buying an additional 25,216 shares during the last quarter. Geode Capital Management LLC grew its position 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 buying an additional 76,688 shares during the last quarter. Finally, JPMorgan Chase & Co. acquired a new stake in shares of ACRES Commercial Realty in the second quarter valued at about $52,000. Institutional investors own 40.03% of the company’s stock.

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.