Eagle Point Credit Management Sells 5,806 Shares of ACRES Commercial Realty (NYSE:ACR) Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 5,806 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $25.41, for a total value of $147,530.46. Following the sale, the insider owned 344,106 shares of the company’s stock, valued at approximately $8,743,733.46. This trade represents a 1.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own 10% or more 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 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 Wednesday, May 20th, Eagle Point Credit Management sold 404 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.50, for a total value of $9,090.00.
• On Monday, March 30th, Eagle Point Credit Management sold 1,095 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.12, for a total value of $24,221.40.
• On Monday, March 16th, Eagle Point Credit Management sold 2,954 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.07, for a total value of $65,194.78.

ACRES Commercial Realty Price Performance

NYSE:ACR opened at $18.91 on Friday. ACRES Commercial Realty Corp. has a 12 month low of $17.06 and a 12 month high of $24.61. The stock has a 50 day moving average of $20.06 and a two-hundred day moving average of $20.25. 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 firm has a market cap of $134.86 million, a P/E ratio of 29.10 and a beta of 1.07.

ACRES Commercial Realty (NYSE:ACR) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.02. The business had revenue of $17.82 million during the quarter, compared to analyst estimates of $20.55 million. ACRES Commercial Realty had a return on equity of 5.61% and a net margin of 37.20%. On average, analysts expect that ACRES Commercial Realty Corp. will post 0.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ACRES Commercial Realty

A number of large investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC acquired a new position in ACRES Commercial Realty in the first quarter valued at approximately $133,000. Goldman Sachs Group Inc. acquired a new position in ACRES Commercial Realty in the first quarter valued at approximately $488,000. Jane Street Group LLC lifted its holdings in ACRES Commercial Realty by 190.8% in the first quarter. Jane Street Group LLC now owns 38,434 shares of the company’s stock valued at $833,000 after acquiring an additional 25,216 shares during the last quarter. Geode Capital Management LLC lifted its holdings in ACRES Commercial Realty by 125.1% in the second quarter. Geode Capital Management LLC now owns 137,996 shares of the company’s stock valued at $2,476,000 after acquiring an additional 76,688 shares during the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in ACRES Commercial Realty in the second quarter valued at approximately $52,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Wall Street Zen upgraded ACRES Commercial Realty from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 18th. Weiss Ratings upgraded ACRES Commercial Realty from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, ACRES Commercial Realty has an average rating of “Moderate Buy” and an average target price 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.