ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 11,071 Shares of Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 11,071 shares of the stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $22.39, for a total transaction of $247,879.69. Following the completion of the transaction, the insider now directly owns 847,501 shares of the company’s stock, valued at approximately $18,975,547.39. The trade was a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% 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 Monday, June 16th, Eagle Point Credit Management sold 553 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.30, for a total transaction of $12,331.90.
• On Friday, June 13th, Eagle Point Credit Management sold 400 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.25, for a total transaction of $8,900.00.
• On Friday, March 28th, Eagle Point Credit Management sold 1,172 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.48, for a total transaction of $26,346.56.
• On Wednesday, March 26th, Eagle Point Credit Management sold 3,384 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.48, for a total transaction of $76,072.32.
• On Monday, March 24th, Eagle Point Credit Management sold 854 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.45, for a total transaction of $19,172.30.
• On Wednesday, March 19th, Eagle Point Credit Management sold 9,937 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $23.08, for a total transaction of $229,345.96.

ACRES Commercial Realty Price Performance

Shares of ACR opened at $17.68 on Wednesday. The stock has a market cap of $130.65 million, a PE ratio of 60.96 and a beta of 1.75. The company has a debt-to-equity ratio of 2.89, a quick ratio of 88.11 and a current ratio of 88.11. ACRES Commercial Realty Corp. has a fifty-two week low of $12.69 and a fifty-two week high of $23.81. The firm’s 50-day simple moving average is $18.22 and its two-hundred day simple moving average is $18.59.

ACRES Commercial Realty (NYSE:ACR) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.97) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($1.15). ACRES Commercial Realty had a return on equity of 2.95% and a net margin of 22.98%. The business had revenue of $5.60 million during the quarter, compared to analysts’ expectations of $19.89 million. Analysts anticipate that ACRES Commercial Realty Corp. will post 0.78 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ACRES Commercial Realty

A number of institutional investors have recently made changes to their positions in ACR. Bank of New York Mellon Corp purchased a new stake in shares of ACRES Commercial Realty during the fourth quarter valued at approximately $412,000. Raymond James Financial Inc. purchased a new stake in shares of ACRES Commercial Realty during the fourth quarter valued at approximately $829,000. Sei Investments Co. purchased a new stake in shares of ACRES Commercial Realty during the fourth quarter valued at approximately $162,000. Arrowstreet Capital Limited Partnership boosted its holdings in ACRES Commercial Realty by 25.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 31,976 shares of the company’s stock worth $516,000 after purchasing an additional 6,393 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its holdings in ACRES Commercial Realty by 2.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 61,759 shares of the company’s stock worth $997,000 after purchasing an additional 1,458 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Jones Trading restated a “hold” rating on shares of ACRES Commercial Realty in a report on Thursday, March 13th. JMP Securities upped their price objective on shares of ACRES Commercial Realty to $22.00 and gave the stock a “buy” rating in a report on Friday, March 7th.

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.