ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells 2,212 Shares of Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 2,212 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $21.80, for a total value of $48,221.60. Following the sale, the insider owned 716,679 shares of the company’s stock, valued at approximately $15,623,602.20. This represents a 0.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own more than 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, July 28th, Eagle Point Credit Management sold 206 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $21.79, for a total value of $4,488.74.
• On Monday, July 27th, Eagle Point Credit Management sold 1,389 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $21.78, for a total value of $30,252.42.
• On Wednesday, June 24th, Eagle Point Credit Management sold 2,076 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.50, for a total value of $46,710.00.
• On Monday, June 15th, Eagle Point Credit Management sold 5,981 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.37, for a total value of $145,756.97.
• On Friday, June 12th, Eagle Point Credit Management sold 849 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.47, for a total value of $21,624.03.
• On Thursday, June 11th, Eagle Point Credit Management sold 215 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.47, for a total value of $5,476.05.
• On Wednesday, June 10th, Eagle Point Credit Management sold 1,527 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.56, for a total value of $34,449.12.
• On Wednesday, June 3rd, Eagle Point Credit Management sold 422 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.55, for a total value of $9,516.10.
• On Monday, June 1st, Eagle Point Credit Management sold 5,806 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.41, for a total value of $147,530.46.
• On Wednesday, May 20th, Eagle Point Credit Management sold 404 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.50, for a total transaction of $9,090.00.

ACRES Commercial Realty Stock Up 1.6%

NYSE ACR traded up $0.29 during trading on Wednesday, reaching $18.40. The company’s stock had a trading volume of 38,447 shares, compared to its average volume of 15,503. The company has a current ratio of 164.62, a quick ratio of 164.62 and a debt-to-equity ratio of 3.36. The stock has a market capitalization of $131.21 million, a PE ratio of 28.31 and a beta of 1.09. The business has a 50-day moving average price of $18.12 and a 200-day moving average price of $19.06. ACRES Commercial Realty Corp. has a 1-year low of $15.61 and a 1-year high of $24.61.

ACRES Commercial Realty (NYSE:ACR) last announced its quarterly earnings results on Wednesday, July 29th. The company reported ($2.26) EPS for the quarter, missing the consensus estimate of $0.18 by ($2.44). ACRES Commercial Realty had a return on equity of 5.61% and a net margin of 37.20%. On average, research analysts forecast that ACRES Commercial Realty Corp. will post 0.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Zacks Research downgraded shares of ACRES Commercial Realty from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. Weiss Ratings raised ACRES Commercial Realty from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Finally, Wall Street Zen downgraded ACRES Commercial Realty from a “hold” rating to a “sell” rating in a research note on Sunday, July 5th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $24.50.

Hedge Funds Weigh In On ACRES Commercial Realty

Institutional investors have recently modified their holdings of the company. Eagle Point Credit Management LLC acquired a new stake in shares of ACRES Commercial Realty in the fourth quarter worth $25,118,000. Vanguard Group Inc. grew its stake in ACRES Commercial Realty by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 383,696 shares of the company’s stock valued at $8,119,000 after buying an additional 11,465 shares during the last quarter. Geode Capital Management LLC raised its holdings in ACRES Commercial Realty by 125.1% in the 2nd quarter. Geode Capital Management LLC now owns 137,996 shares of the company’s stock worth $2,476,000 after acquiring an additional 76,688 shares during the period. State Street Corp raised its holdings in ACRES Commercial Realty by 8.5% in the 4th quarter. State Street Corp now owns 86,053 shares of the company’s stock worth $1,836,000 after acquiring an additional 6,713 shares during the period. Finally, Raymond James Financial Inc. lifted its position 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 acquiring an additional 1,979 shares during the last quarter. 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.