Eagle Point Credit Management Sells 718 Shares of ACRES Commercial Realty (NYSE:ACR) Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 718 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $25.17, for a total value of $18,072.06. Following the sale, the insider owned 389,099 shares in the company, valued at $9,793,621.83. The trade was a 0.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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 Thursday, November 13th, Eagle Point Credit Management sold 733 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.15, for a total value of $18,434.95.
• On Wednesday, November 12th, Eagle Point Credit Management sold 2,593 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.80, for a total value of $59,120.40.
• On Tuesday, November 11th, Eagle Point Credit Management sold 1,161 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.20, for a total value of $25,774.20.
• On Friday, November 7th, Eagle Point Credit Management sold 140 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.15, for a total value of $3,521.00.
• On Thursday, November 6th, Eagle Point Credit Management sold 200 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.15, for a total value of $5,030.00.
• On Wednesday, November 5th, Eagle Point Credit Management sold 3,637 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.30, for a total transaction of $81,105.10.
• On Tuesday, November 4th, Eagle Point Credit Management sold 352 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.17, for a total transaction of $7,803.84.
• On Friday, October 31st, Eagle Point Credit Management sold 2,089 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.19, for a total transaction of $52,621.91.
• On Wednesday, October 29th, Eagle Point Credit Management sold 772 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.10, for a total transaction of $17,061.20.
• On Tuesday, October 28th, Eagle Point Credit Management sold 200 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.07, for a total transaction of $4,414.00.

ACRES Commercial Realty Stock Performance

NYSE ACR traded down $0.61 on Wednesday, hitting $20.73. The stock had a trading volume of 20,247 shares, compared to its average volume of 33,428. The company’s 50-day moving average is $20.70 and its two-hundred day moving average is $19.52. ACRES Commercial Realty Corp. has a one year low of $14.94 and a one year high of $23.81. The stock has a market cap of $151.05 million, a price-to-earnings ratio of -1,036.08 and a beta of 1.77. The company has a quick ratio of 69.53, a current ratio of 69.53 and a debt-to-equity ratio of 3.01.

ACRES Commercial Realty declared that its Board of Directors has initiated a share repurchase program on Wednesday, October 29th that allows the company to repurchase $7.50 million in shares. This repurchase authorization allows the company to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On ACRES Commercial Realty

A number of hedge funds and other institutional investors have recently modified their holdings of ACR. Acadian Asset Management LLC raised its holdings in ACRES Commercial Realty by 16.8% during the 2nd quarter. Acadian Asset Management LLC now owns 182,679 shares of the company’s stock worth $3,272,000 after buying an additional 26,226 shares during the period. Goldman Sachs Group Inc. purchased a new position in shares of ACRES Commercial Realty in the first quarter worth approximately $488,000. Informed Momentum Co LLC acquired a new stake in shares of ACRES Commercial Realty during the first quarter valued at approximately $697,000. Ritholtz Wealth Management lifted its position in shares of ACRES Commercial Realty by 12.0% in the 2nd quarter. Ritholtz Wealth Management now owns 33,889 shares of the company’s stock valued at $608,000 after acquiring an additional 3,618 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in ACRES Commercial Realty by 120.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company’s stock worth $29,000 after purchasing an additional 739 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on ACR shares. Citigroup restated an “outperform” rating on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Weiss Ratings reissued a “hold (c)” rating on shares of ACRES Commercial Realty in a report on Monday. JMP Securities set a $24.50 price objective on shares of ACRES Commercial Realty in a report on Friday, October 31st. Citizens Jmp raised their target price on shares of ACRES Commercial Realty from $23.50 to $24.50 and gave the company a “market outperform” rating in a research note on Friday, October 31st. Finally, Wall Street Zen upgraded shares of ACRES Commercial Realty from a “strong sell” rating to a “hold” rating in a research report on Saturday, November 1st. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, ACRES Commercial Realty presently has a consensus rating of “Moderate Buy” and an average price target of $24.50.

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.