Eagle Point Credit Management Sells 5,981 Shares of ACRES Commercial Realty (NYSE:ACR) Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 5,981 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $24.37, for a total value of $145,756.97. Following the transaction, the insider owned 339,325 shares of the company’s stock, valued at $8,269,350.25. This represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 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 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 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 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.

ACRES Commercial Realty Price Performance

ACRES Commercial Realty stock traded up $0.53 during mid-day trading on Wednesday, hitting $16.47. 67,402 shares of the company were exchanged, compared to its average volume of 22,938. ACRES Commercial Realty Corp. has a 1-year low of $15.61 and a 1-year high of $24.61. The company has a market capitalization of $117.41 million, a PE ratio of 25.33 and a beta of 1.07. The company has a quick ratio of 164.62, a current ratio of 164.62 and a debt-to-equity ratio of 3.36. The business has a fifty day moving average of $19.85 and a 200 day moving average of $20.07.

ACRES Commercial Realty (NYSE:ACR) last announced its earnings results on Thursday, April 30th. The company reported $0.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02. ACRES Commercial Realty had a return on equity of 5.61% and a net margin of 37.20%.The company had revenue of $17.82 million during the quarter, compared to analyst estimates of $20.55 million. As a group, sell-side analysts expect that ACRES Commercial Realty Corp. will post 0.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ACR shares. Wall Street Zen upgraded ACRES Commercial Realty from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 18th. Weiss Ratings upgraded ACRES Commercial Realty from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, ACRES Commercial Realty presently has an average rating of “Moderate Buy” and an average price target of $24.50.

Institutional Trading of ACRES Commercial Realty

A number of hedge funds have recently modified their holdings of ACR. BNP Paribas Financial Markets raised its holdings in ACRES Commercial Realty by 120.2% in the third quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company’s stock worth $29,000 after purchasing an additional 739 shares during the period. Barclays PLC raised its holdings in ACRES Commercial Realty by 10.8% in the fourth quarter. Barclays PLC now owns 9,610 shares of the company’s stock worth $205,000 after purchasing an additional 939 shares during the period. Janney Montgomery Scott LLC raised its holdings in ACRES Commercial Realty by 2.3% in the first quarter. Janney Montgomery Scott LLC now owns 46,278 shares of the company’s stock worth $894,000 after purchasing an additional 1,019 shares during the period. Bank of America Corp DE raised its holdings in ACRES Commercial Realty by 110.4% in the second 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 period. Finally, Raymond James Financial Inc. raised its holdings in ACRES Commercial Realty by 2.5% in the third quarter. Raymond James Financial Inc. now owns 80,129 shares of the company’s stock worth $1,696,000 after purchasing an additional 1,979 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

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.