ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells $127,360.80 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 5,054 shares of ACRES Commercial Realty stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $25.20, for a total transaction of $127,360.80. Following the sale, the insider owned 382,409 shares of the company’s stock, valued at approximately $9,636,706.80. This represents a 1.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 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 Friday, November 28th, Eagle Point Credit Management sold 913 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.19, for a total transaction of $22,998.47.
• On Monday, November 24th, Eagle Point Credit Management sold 723 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.19, for a total transaction of $18,212.37.
• 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 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 shares were 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 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.

ACRES Commercial Realty Stock Down 2.1%

Shares of ACR stock traded down $0.44 during trading on Tuesday, reaching $20.63. The company’s stock had a trading volume of 12,165 shares, compared to its average volume of 39,424. ACRES Commercial Realty Corp. has a 1-year low of $14.94 and a 1-year high of $23.81. The stock’s 50-day moving average price is $20.68 and its 200 day moving average price is $19.66. The company has a market capitalization of $150.39 million, a price-to-earnings ratio of 65.84 and a beta of 1.21. The company has a debt-to-equity ratio of 2.73, a current ratio of 104.99 and a quick ratio of 104.99.

ACRES Commercial Realty declared that its board has approved a stock buyback program on Wednesday, October 29th that allows the company to repurchase $7.50 million in shares. This repurchase authorization allows the company to reacquire up to 5.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Citizens Jmp upped their price objective on ACRES Commercial Realty from $23.50 to $24.50 and gave the stock a “market outperform” rating in a research report on Friday, October 31st. Citigroup restated 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 ACRES Commercial Realty in a research note on Friday, October 31st. Weiss Ratings restated a “hold (c)” rating on shares of ACRES Commercial Realty in a research note on Monday. Finally, Wall Street Zen raised shares of ACRES Commercial Realty from a “strong sell” rating to a “hold” rating in a report on Saturday, November 1st. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, ACRES Commercial Realty currently has an average rating of “Moderate Buy” and a consensus price target of $24.50.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ACR. Oaktree Capital Management LP acquired a new stake in shares of ACRES Commercial Realty during the 3rd quarter worth about $8,282,000. Vanguard Group Inc. boosted its holdings 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 purchasing an additional 11,465 shares in the last quarter. Acadian Asset Management LLC increased its stake 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 valued at $3,272,000 after purchasing an additional 26,226 shares during the last quarter. Geode Capital Management LLC raised its holdings in 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 raised its holdings in ACRES Commercial Realty by 64.3% during the second quarter. Gratia Capital LLC now owns 125,994 shares of the company’s stock worth $2,260,000 after purchasing an additional 49,312 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

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.