ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells $19,794.40 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 908 shares of the firm’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $21.80, for a total value of $19,794.40. Following the transaction, the insider directly owned 715,771 shares in the company, valued at approximately $15,603,807.80. This represents a 0.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more 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, July 31st, Eagle Point Credit Management sold 84 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $21.80, for a total value of $1,831.20.
• On Wednesday, July 29th, Eagle Point Credit Management sold 2,212 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $21.80, for a total value of $48,221.60.
• 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 shares were 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 transaction 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 transaction 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 transaction of $9,516.10.

ACRES Commercial Realty Stock Down 3.6%

Shares of ACRES Commercial Realty stock opened at $14.77 on Thursday. ACRES Commercial Realty Corp. has a one year low of $14.61 and a one year high of $24.61. The company has a market cap of $105.28 million, a P/E ratio of -13.18 and a beta of 1.08. The company has a debt-to-equity ratio of 3.36, a quick ratio of 164.62 and a current ratio of 164.62. The firm has a fifty day moving average of $17.77 and a two-hundred day moving average of $18.92.

ACRES Commercial Realty (NYSE:ACR) last issued its earnings results on Wednesday, July 29th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.92). The firm had revenue of $20.98 million during the quarter, compared to analysts’ expectations of $20.32 million. ACRES Commercial Realty had a net margin of 22.62% and a return on equity of 2.47%. On average, analysts forecast that ACRES Commercial Realty Corp. will post 0.15 earnings per share for the current year.

Institutional Trading of ACRES Commercial Realty

A number of institutional investors have recently added to or reduced their stakes in ACR. GM Advisory Group LLC acquired a new position in ACRES Commercial Realty during the first quarter worth about $223,000. Janney Montgomery Scott LLC boosted its stake in shares of ACRES Commercial Realty by 2.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 46,278 shares of the company’s stock worth $894,000 after acquiring an additional 1,019 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of ACRES Commercial Realty by 524.2% during the 4th quarter. Royal Bank of Canada now owns 5,349 shares of the company’s stock worth $114,000 after acquiring an additional 4,492 shares in the last quarter. Barclays PLC grew its holdings in shares of ACRES Commercial Realty by 10.8% in the 4th quarter. Barclays PLC now owns 9,610 shares of the company’s stock worth $205,000 after acquiring an additional 939 shares during the period. Finally, State Street Corp grew its holdings in shares of 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. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on ACR shares. Wall Street Zen cut ACRES Commercial Realty from a “hold” rating to a “sell” rating in a research report on Sunday, July 5th. Weiss Ratings downgraded ACRES Commercial Realty from a “hold (c)” rating to a “sell (d+)” rating in a research note on Tuesday. Finally, Zacks Research downgraded ACRES Commercial Realty from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Two analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, ACRES Commercial Realty presently has a consensus rating of “Hold” and a consensus target price of $24.50.

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.