Eagle Point Credit Management Sells 1,100 Shares of ACRES Commercial Realty (NYSE:ACR) Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 1,100 shares of the stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $22.02, for a total value of $24,222.00. Following the transaction, the insider directly owned 753,599 shares in the company, valued at approximately $16,594,249.98. This represents a 0.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major 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 Wednesday, January 21st, Eagle Point Credit Management sold 692 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.07, for a total value of $15,272.44.
• On Wednesday, January 14th, Eagle Point Credit Management sold 5,400 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.99, for a total transaction of $134,946.00.
• On Friday, January 9th, Eagle Point Credit Management sold 3,702 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.89, for a total transaction of $92,142.78.
• 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 transaction of $348,496.47.
• On Wednesday, December 31st, Eagle Point Credit Management sold 5,000 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.41, for a total transaction of $112,050.00.
• On Wednesday, December 24th, Eagle Point Credit Management sold 455 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.30, for a total transaction of $10,146.50.
• 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 shares were 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 stock was sold at an average price of $23.82, for a total value of $29,965.56.

ACRES Commercial Realty Stock Performance

NYSE:ACR traded down $0.17 during mid-day trading on Friday, hitting $19.96. 37,344 shares of the company’s stock traded hands, compared to its average volume of 16,910. The company has a current ratio of 104.99, a quick ratio of 104.99 and a debt-to-equity ratio of 2.73. The firm has a 50 day moving average of $21.62 and a two-hundred day moving average of $20.62. The firm has a market capitalization of $145.49 million, a price-to-earnings ratio of 62.91 and a beta of 1.19. ACRES Commercial Realty Corp. has a 12 month low of $15.64 and a 12 month high of $24.61.

ACRES Commercial Realty announced that its Board of Directors has authorized a share repurchase plan on Wednesday, October 29th that authorizes the company to repurchase $7.50 million in shares. This repurchase authorization authorizes the company to purchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On ACRES Commercial Realty

Several hedge funds and other institutional investors have recently modified their holdings of ACR. 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 valued at $29,000 after buying an additional 739 shares in the last quarter. JPMorgan Chase & Co. bought a new position in shares of ACRES Commercial Realty during the second quarter valued at $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of ACRES Commercial Realty in the 2nd quarter valued at $60,000. Bank of America Corp DE grew its holdings in shares of ACRES Commercial Realty by 110.4% in the 2nd quarter. Bank of America Corp DE now owns 3,671 shares of the company’s stock worth $66,000 after purchasing an additional 1,926 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in shares of ACRES Commercial Realty during the 2nd quarter worth about $93,000. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ACR shares. Weiss Ratings reiterated a “hold (c)” rating on shares of ACRES Commercial Realty in a research note on Monday, December 29th. JMP Securities set a $24.50 price target on ACRES Commercial Realty in a report on Friday, October 31st. Citizens Jmp raised 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. Zacks Research upgraded ACRES Commercial Realty to a “hold” rating in a research report on Friday, December 19th. Finally, Citigroup restated an “outperform” rating on shares of ACRES Commercial Realty in a research note on Friday, October 31st. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock 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.