Eagle Point Credit Management Sells 553 Shares of ACRES Commercial Realty Corp. (NYSE:ACR) Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 553 shares of the business’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $22.30, for a total transaction of $12,331.90. Following the completion of the sale, the insider now owns 858,572 shares in the company, valued at approximately $19,146,155.60. This trade represents a 0.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Major 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 Tuesday, June 17th, Eagle Point Credit Management sold 11,071 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.39, for a total transaction of $247,879.69.
• On Friday, June 13th, Eagle Point Credit Management sold 400 shares of ACRES Commercial Realty stock. The shares were 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 shares were 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 shares were 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 shares were 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 shares were sold at an average price of $23.08, for a total transaction of $229,345.96.

ACRES Commercial Realty Stock Performance

NYSE ACR opened at $17.77 on Thursday. The company has a market cap of $131.32 million, a P/E ratio of 61.28 and a beta of 1.75. The company has a debt-to-equity ratio of 2.89, a current ratio of 88.11 and a quick ratio of 88.11. The stock has a 50-day moving average of $18.19 and a two-hundred day moving average of $18.59. ACRES Commercial Realty Corp. has a 1-year low of $12.70 and a 1-year high of $23.81.

ACRES Commercial Realty (NYSE:ACR) last released its earnings results on Wednesday, May 7th. The company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($1.15). The firm had revenue of $5.60 million during the quarter, compared to analyst estimates of $19.89 million. ACRES Commercial Realty had a net margin of 22.98% and a return on equity of 2.95%. As a group, analysts anticipate that ACRES Commercial Realty Corp. will post 0.78 EPS for the current year.

Hedge Funds Weigh In On ACRES Commercial Realty

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC acquired a new position in shares of ACRES Commercial Realty during the first quarter worth about $133,000. Sei Investments Co. acquired a new position in shares of ACRES Commercial Realty during the fourth quarter worth about $162,000. Jane Street Group LLC acquired a new position in shares of ACRES Commercial Realty during the fourth quarter worth about $213,000. Biltmore Family Office LLC grew its position in shares of ACRES Commercial Realty by 41.7% during the fourth quarter. Biltmore Family Office LLC now owns 22,104 shares of the company’s stock worth $357,000 after buying an additional 6,504 shares in the last quarter. Finally, Goldman Sachs Group Inc. acquired a new position in shares of ACRES Commercial Realty during the first quarter worth about $488,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on ACR shares. Jones Trading reaffirmed a “hold” rating on shares of ACRES Commercial Realty in a research report on Thursday, March 13th. JMP Securities lifted their target price on ACRES Commercial Realty to $22.00 and gave the company a “buy” rating in a research 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.