Eagle Point Credit Management Sells 723 Shares of ACRES Commercial Realty (NYSE:ACR) Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 723 shares of ACRES Commercial Realty stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $25.19, for a total transaction of $18,212.37. Following the sale, the insider owned 388,376 shares in the company, valued at approximately $9,783,191.44. The trade was a 0.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large 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 Monday, November 17th, Eagle Point Credit Management sold 718 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.17, for a total value of $18,072.06.
• On Thursday, November 13th, Eagle Point Credit Management sold 733 shares of ACRES Commercial Realty stock. The stock was 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 shares were 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 shares were 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 transaction of $5,030.00.
• On Wednesday, November 5th, Eagle Point Credit Management sold 3,637 shares of ACRES Commercial Realty stock. The stock was 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 shares were 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 shares were 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 stock was sold at an average price of $22.10, for a total transaction of $17,061.20.

ACRES Commercial Realty Trading Down 0.3%

ACR traded down $0.07 on Wednesday, hitting $21.21. The company had a trading volume of 16,734 shares, compared to its average volume of 34,785. The business’s fifty day simple moving average is $20.66 and its 200 day simple moving average is $19.59. 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 Corp. has a 12-month low of $14.94 and a 12-month high of $23.81. The company has a market cap of $154.50 million, a PE ratio of -1,059.72 and a beta of 1.77.

ACRES Commercial Realty announced that its board has authorized a stock buyback plan on Wednesday, October 29th that authorizes the company to buyback $7.50 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 5.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On ACRES Commercial Realty

A number of institutional investors and hedge funds have recently bought and sold shares of ACR. Oaktree Capital Management LP bought a new position in shares of ACRES Commercial Realty during the 3rd quarter worth approximately $8,282,000. Vanguard Group Inc. boosted its stake in ACRES Commercial Realty by 3.1% in the third quarter. Vanguard Group Inc. now owns 383,696 shares of the company’s stock valued at $8,119,000 after acquiring an additional 11,465 shares in the last quarter. Acadian Asset Management LLC grew its holdings in ACRES Commercial Realty by 16.8% in the second quarter. Acadian Asset Management LLC now owns 182,679 shares of the company’s stock worth $3,272,000 after purchasing an additional 26,226 shares during the last quarter. Geode Capital Management LLC increased its position in shares of ACRES Commercial Realty by 125.1% during the second quarter. Geode Capital Management LLC now owns 137,996 shares of the company’s stock worth $2,476,000 after purchasing an additional 76,688 shares in the last quarter. Finally, Gratia Capital LLC lifted its holdings in shares of ACRES Commercial Realty by 64.3% during the 2nd quarter. Gratia Capital LLC now owns 125,994 shares of the company’s stock valued at $2,260,000 after purchasing an additional 49,312 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ACR. 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. Citigroup reiterated an “outperform” rating on shares of ACRES Commercial Realty in a report on Friday, October 31st. JMP Securities set a $24.50 price objective on shares of ACRES Commercial Realty in a research note on Friday, October 31st. Citizens Jmp boosted their target price on ACRES Commercial Realty from $23.50 to $24.50 and gave the company a “market outperform” rating in a research report on Friday, October 31st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ACRES Commercial Realty in a report on Monday. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, ACRES Commercial Realty presently has an average rating of “Moderate Buy” and a consensus 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.