ACRES Commercial Realty (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 849 Shares of Stock

ACRES Commercial Realty Corp. (NYSE:ACRGet Free Report) major shareholder Eagle Point Credit Management sold 849 shares of ACRES Commercial Realty stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $25.47, for a total value of $21,624.03. Following the completion of the sale, the insider directly owned 343,036 shares of the company’s stock, valued at approximately $8,737,126.92. This trade represents a 0.25% 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 at least 10% 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 Thursday, June 11th, Eagle Point Credit Management sold 215 shares of ACRES Commercial Realty stock. The stock was 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 stock was 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 stock was sold at an average price of $22.50, for a total transaction of $9,090.00.
  • On Monday, March 30th, Eagle Point Credit Management sold 1,095 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.12, for a total transaction of $24,221.40.
  • On Monday, March 16th, Eagle Point Credit Management sold 2,954 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.07, for a total transaction of $65,194.78.

ACRES Commercial Realty Trading Up 0.2%

Shares of ACR stock opened at $18.06 on Friday. The company’s fifty day simple moving average is $19.96 and its two-hundred day simple moving average is $20.15. The company has a debt-to-equity ratio of 3.36, a current ratio of 164.62 and a quick ratio of 164.62. ACRES Commercial Realty Corp. has a 1 year low of $17.06 and a 1 year high of $24.61. The stock has a market capitalization of $128.77 million, a price-to-earnings ratio of 27.79 and a beta of 1.07.

ACRES Commercial Realty (NYSE:ACRGet Free Report) last issued its 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. ACRES Commercial Realty had a net margin of 37.20% and a return on equity of 5.61%. The business had revenue of $17.82 million for the quarter, compared to analysts’ expectations of $20.55 million. As a group, analysts anticipate that ACRES Commercial Realty Corp. will post 0.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

ACR has been the subject of a number of recent analyst reports. Wall Street Zen raised ACRES Commercial Realty from a “strong sell” rating to a “sell” rating in a report on Saturday, April 18th. Weiss Ratings raised ACRES Commercial Realty from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $24.50.

Get Our Latest Stock Analysis on ACRES Commercial Realty

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its holdings in ACRES Commercial Realty by 120.2% during 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. purchased a new position in ACRES Commercial Realty during the 2nd quarter valued at about $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in ACRES Commercial Realty during the 2nd quarter valued at about $60,000. 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 buying an additional 1,926 shares in the last quarter. Finally, MetLife Investment Management LLC purchased a new position in ACRES Commercial Realty during the 4th quarter valued at about $76,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

About ACRES Commercial Realty

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for ACRES Commercial Realty (NYSE:ACR)

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