Eagle Point Credit Management Sells 3,702 Shares of ACRES Commercial Realty (NYSE:ACR) Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 3,702 shares of the firm’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $24.89, for a total value of $92,142.78. Following the completion of the transaction, the insider owned 377,809 shares of the company’s stock, valued at approximately $9,403,666.01. This represents a 0.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Eagle Point Credit Management also recently made the following trade(s):

• On Tuesday, January 13th, Eagle Point Credit Management sold 13,979 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.93, for a total value of $348,496.47.
• On Wednesday, December 31st, Eagle Point Credit Management sold 5,000 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.41, for a total value of $112,050.00.
• On Wednesday, December 24th, Eagle Point Credit Management sold 455 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.30, for a total value of $10,146.50.
• On Tuesday, December 23rd, Eagle Point Credit Management sold 499 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.26, for a total value of $11,107.74.
• On Monday, December 15th, Eagle Point Credit Management sold 1,372 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.26, for a total transaction of $30,540.72.
• On Friday, December 12th, Eagle Point Credit Management sold 114 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.26, for a total transaction of $2,537.64.
• On Thursday, December 11th, Eagle Point Credit Management sold 1,258 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $23.82, for a total transaction 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 transaction 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 transaction of $2,496.78.
• On Thursday, December 4th, Eagle Point Credit Management sold 48 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.22, for a total value of $1,210.56.

ACRES Commercial Realty Trading Down 1.8%

NYSE:ACR traded down $0.37 during trading hours on Tuesday, reaching $20.04. 17,080 shares of the company were exchanged, compared to its average volume of 36,194. The firm has a market cap of $146.06 million, a price-to-earnings ratio of 20.87 and a beta of 1.19. The stock has a 50 day simple moving average of $21.81 and a 200 day simple moving average of $20.54. ACRES Commercial Realty Corp. has a 52-week low of $15.64 and a 52-week high of $24.61. 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 of Directors has authorized a share buyback plan on Wednesday, October 29th that permits the company to repurchase $7.50 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 5.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On ACRES Commercial Realty

Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets grew its position in ACRES Commercial Realty by 120.2% in the third quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company’s stock valued at $29,000 after acquiring an additional 739 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of ACRES Commercial Realty by 1.2% in the first quarter. Acadian Asset Management LLC now owns 156,453 shares of the company’s stock valued at $3,386,000 after purchasing an additional 1,851 shares during the period. Bank of America Corp DE grew its holdings in ACRES Commercial Realty by 110.4% during the 2nd quarter. Bank of America Corp DE now owns 3,671 shares of the company’s stock valued at $66,000 after purchasing an additional 1,926 shares in the last quarter. Raymond James Financial Inc. increased its stake in ACRES Commercial Realty by 2.5% during the 3rd quarter. Raymond James Financial Inc. now owns 80,129 shares of the company’s stock worth $1,696,000 after buying an additional 1,979 shares during the period. Finally, Sei Investments Co. increased its stake in ACRES Commercial Realty by 22.5% during the 2nd quarter. Sei Investments Co. now owns 12,314 shares of the company’s stock worth $221,000 after buying an additional 2,263 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

ACR has been the topic of a number of research reports. Zacks Research upgraded ACRES Commercial Realty to a “hold” rating in a report on Friday, December 19th. Citigroup restated an “outperform” rating on shares of ACRES Commercial Realty in a report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ACRES Commercial Realty in a research report on Monday, December 29th. JMP Securities set a $24.50 price objective on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Finally, 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. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, ACRES Commercial Realty has an average rating of “Moderate Buy” and an average price target of $24.50.

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.