Eagle Point Credit Management Sells 908 Shares of ACRES Commercial Realty (NYSE:ACR) Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 908 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $21.80, for a total value of $19,794.40. Following the completion of the transaction, the insider directly owned 715,771 shares in the company, valued at $15,603,807.80. The trade was a 0.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own 10% or more 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 Friday, July 31st, Eagle Point Credit Management sold 84 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $21.80, for a total value of $1,831.20.
• On Wednesday, July 29th, Eagle Point Credit Management sold 2,212 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $21.80, for a total value of $48,221.60.
• On Tuesday, July 28th, Eagle Point Credit Management sold 206 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $21.79, for a total transaction of $4,488.74.
• On Monday, July 27th, Eagle Point Credit Management sold 1,389 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $21.78, for a total transaction of $30,252.42.
• On Wednesday, June 24th, Eagle Point Credit Management sold 2,076 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.50, for a total transaction of $46,710.00.
• On Monday, June 15th, Eagle Point Credit Management sold 5,981 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.37, for a total transaction of $145,756.97.
• On Friday, June 12th, Eagle Point Credit Management sold 849 shares of ACRES Commercial Realty stock. The shares were 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 shares were 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 stock was 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 stock was sold at an average price of $22.55, for a total transaction of $9,516.10.

ACRES Commercial Realty Price Performance

Shares of ACR stock opened at $15.41 on Wednesday. The company has a quick ratio of 164.62, a current ratio of 164.62 and a debt-to-equity ratio of 3.36. ACRES Commercial Realty Corp. has a 12-month low of $14.71 and a 12-month high of $24.61. The firm has a fifty day moving average of $17.87 and a 200-day moving average of $18.96. The firm has a market capitalization of $109.84 million, a price-to-earnings ratio of -13.76 and a beta of 1.08.

ACRES Commercial Realty (NYSE:ACR) last issued its quarterly earnings data on Wednesday, July 29th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.92). The business had revenue of $20.98 million for the quarter, compared to analyst estimates of $20.32 million. ACRES Commercial Realty had a return on equity of 2.47% and a net margin of 22.62%. On average, equities research analysts forecast that ACRES Commercial Realty Corp. will post 0.15 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Wall Street Zen lowered ACRES Commercial Realty from a “hold” rating to a “sell” rating in a research report on Sunday, July 5th. Weiss Ratings raised ACRES Commercial Realty from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, Zacks Research downgraded shares of ACRES Commercial Realty from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $24.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ACR. Cubist Systematic Strategies LLC acquired a new stake in ACRES Commercial Realty in the 1st quarter valued at approximately $133,000. Wells Fargo & Company MN lifted its stake in ACRES Commercial Realty by 49.6% in the 4th quarter. Wells Fargo & Company MN now owns 6,883 shares of the company’s stock valued at $147,000 after acquiring an additional 2,281 shares in the last quarter. State Street Corp boosted its position in ACRES Commercial Realty by 8.5% during the 4th quarter. State Street Corp now owns 86,053 shares of the company’s stock worth $1,836,000 after acquiring an additional 6,713 shares during the last quarter. Jane Street Group LLC grew its stake in shares of ACRES Commercial Realty by 190.8% during 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 in the last quarter. Finally, Goldman Sachs Group Inc. bought a new position in shares of ACRES Commercial Realty during the 1st quarter worth approximately $488,000. 40.03% of the stock is owned by institutional investors and hedge funds.

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.