ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 1,936 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 1,936 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $25.15, for a total value of $48,690.40. Following the sale, the insider now directly owns 465,675 shares of the company’s stock, valued at $11,711,726.25. The trade was a 0.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Eagle Point Credit Management also recently made the following trade(s):

• On Monday, December 2nd, Eagle Point Credit Management sold 3,806 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.19, for a total transaction of $95,873.14.
• On Monday, November 25th, Eagle Point Credit Management sold 4,182 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.14, for a total transaction of $105,135.48.
• On Thursday, November 21st, Eagle Point Credit Management sold 1,674 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.11, for a total transaction of $42,034.14.
• On Monday, November 18th, Eagle Point Credit Management sold 1,923 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.06, for a total transaction of $48,190.38.
• On Friday, November 15th, Eagle Point Credit Management sold 420 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.04, for a total value of $10,516.80.
• On Monday, November 11th, Eagle Point Credit Management sold 2,625 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.00, for a total value of $65,625.00.
• On Thursday, November 7th, Eagle Point Credit Management sold 1,312 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.97, for a total value of $32,760.64.
• On Monday, November 4th, Eagle Point Credit Management sold 129 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.94, for a total transaction of $3,217.26.
• On Wednesday, October 30th, Eagle Point Credit Management sold 2,394 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.91, for a total transaction of $59,634.54.
• On Wednesday, October 23rd, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.89, for a total transaction of $2,489.00.

ACRES Commercial Realty Price Performance

ACR stock opened at $17.70 on Wednesday. The business’s 50-day moving average is $15.94 and its two-hundred day moving average is $14.80. The company has a debt-to-equity ratio of 3.33, a current ratio of 73.84 and a quick ratio of 73.84. The firm has a market capitalization of $137.00 million, a P/E ratio of 21.07 and a beta of 2.06. ACRES Commercial Realty Corp. has a 1 year low of $7.61 and a 1 year high of $17.77.

Analyst Upgrades and Downgrades

Separately, JMP Securities upped their price objective on ACRES Commercial Realty from $16.50 to $17.50 and gave the stock a “market outperform” rating in a research report on Wednesday, September 25th.

Institutional Trading of ACRES Commercial Realty

Several hedge funds have recently added to or reduced their stakes in the company. Ritholtz Wealth Management raised its stake in ACRES Commercial Realty by 23.0% in the third quarter. Ritholtz Wealth Management now owns 25,769 shares of the company’s stock valued at $404,000 after buying an additional 4,825 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of ACRES Commercial Realty during the 3rd quarter worth about $177,000. Biltmore Family Office LLC purchased a new stake in ACRES Commercial Realty during the second quarter worth approximately $160,000. Finally, Barclays PLC boosted its holdings in ACRES Commercial Realty by 147.1% in the third quarter. Barclays PLC now owns 3,499 shares of the company’s stock valued at $55,000 after purchasing an additional 2,083 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

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.