ACRES Commercial Realty (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 455 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 455 shares of the business’s stock in a transaction dated Wednesday, December 24th. The stock was sold at an average price of $22.30, for a total transaction of $10,146.50. Following the sale, the insider owned 760,391 shares in the company, valued at $16,956,719.30. This trade represents a 0.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% 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 Tuesday, December 23rd, Eagle Point Credit Management sold 499 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.26, for a total transaction of $11,107.74.
• On Monday, December 15th, Eagle Point Credit Management sold 1,372 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.26, for a total value of $30,540.72.
• On Friday, December 12th, Eagle Point Credit Management sold 114 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.26, for a total value of $2,537.64.
• On Thursday, December 11th, Eagle Point Credit Management sold 1,258 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $23.82, for a total value of $29,965.56.
• On Wednesday, December 10th, Eagle Point Credit Management sold 98 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.24, for a total value of $2,473.52.
• On Friday, December 5th, Eagle Point Credit Management sold 99 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.22, for a total value of $2,496.78.
• On Thursday, December 4th, Eagle Point Credit Management sold 48 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.22, for a total value of $1,210.56.
• On Monday, December 1st, Eagle Point Credit Management sold 5,054 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.20, for a total value of $127,360.80.
• 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 value of $18,212.37.

ACRES Commercial Realty Price Performance

Shares of NYSE ACR traded down $0.18 during mid-day trading on Monday, reaching $21.47. The company had a trading volume of 23,281 shares, compared to its average volume of 35,981. The company has a current ratio of 104.99, a quick ratio of 104.99 and a debt-to-equity ratio of 2.73. ACRES Commercial Realty Corp. has a 1-year low of $15.64 and a 1-year high of $24.61. The stock has a market cap of $156.52 million, a PE ratio of 22.36 and a beta of 1.21. The company has a 50-day moving average price of $21.61 and a two-hundred day moving average price of $20.28.

ACRES Commercial Realty announced that its board has initiated a stock buyback program on Wednesday, October 29th that authorizes the company to buyback $7.50 million in outstanding shares. This buyback authorization authorizes the company to buy up to 5.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of ACRES Commercial Realty in a research report on Monday, December 22nd. Citigroup reiterated an “outperform” rating on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Wall Street Zen downgraded shares of ACRES Commercial Realty from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th. Citizens Jmp increased their target price on ACRES Commercial Realty from $23.50 to $24.50 and gave the company a “market outperform” rating in a report on Friday, October 31st. Finally, JMP Securities set a $24.50 target price on ACRES Commercial Realty in a research report on Friday, October 31st. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $24.50.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC raised its stake in shares of 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 purchasing an additional 26,226 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in shares of ACRES Commercial Realty in the 1st quarter valued at approximately $488,000. Gratia Capital LLC increased its holdings in ACRES Commercial Realty by 64.3% in the second quarter. Gratia Capital LLC now owns 125,994 shares of the company’s stock worth $2,260,000 after buying an additional 49,312 shares during the last quarter. Ritholtz Wealth Management raised its position in ACRES Commercial Realty by 12.0% during the second 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, Vanguard Group Inc. raised its position in ACRES Commercial Realty by 3.1% during 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. 40.03% of the stock is owned by institutional investors and hedge funds.

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.