ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells $81,105.10 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 3,637 shares of ACRES Commercial Realty stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $22.30, for a total value of $81,105.10. Following the sale, the insider directly owned 391,419 shares in the company, valued at $8,728,643.70. The trade was a 0.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 transactions with the SEC.

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

• On Friday, November 7th, Eagle Point Credit Management sold 140 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.15, for a total value of $3,521.00.
• On Thursday, November 6th, Eagle Point Credit Management sold 200 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.15, for a total transaction of $5,030.00.
• On Tuesday, November 4th, Eagle Point Credit Management sold 352 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.17, for a total transaction of $7,803.84.
• On Friday, October 31st, Eagle Point Credit Management sold 2,089 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.19, for a total transaction of $52,621.91.
• On Wednesday, October 29th, Eagle Point Credit Management sold 772 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.10, for a total transaction of $17,061.20.
• On Tuesday, October 28th, Eagle Point Credit Management sold 200 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.07, for a total transaction of $4,414.00.
• On Tuesday, September 30th, Eagle Point Credit Management sold 2,500 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.68, for a total transaction of $56,700.00.
• On Wednesday, September 24th, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.60, for a total value of $2,260.00.
• On Monday, September 22nd, Eagle Point Credit Management sold 126 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.63, for a total value of $2,851.38.
• On Friday, September 19th, Eagle Point Credit Management sold 402 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.62, for a total value of $9,093.24.

ACRES Commercial Realty Trading Up 0.8%

Shares of ACRES Commercial Realty stock opened at $21.93 on Monday. The business has a fifty day simple moving average of $20.64 and a 200-day simple moving average of $19.38. ACRES Commercial Realty Corp. has a fifty-two week low of $14.94 and a fifty-two week high of $23.81. The firm has a market cap of $162.82 million, a price-to-earnings ratio of -1,095.70 and a beta of 1.77. The company has a quick ratio of 69.53, a current ratio of 69.53 and a debt-to-equity ratio of 3.01.

ACRES Commercial Realty announced that its Board of Directors has authorized a share buyback plan on Wednesday, October 29th that allows the company to repurchase $7.50 million in shares. This repurchase authorization allows the company to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ACR shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ACRES Commercial Realty in a research note on Wednesday, October 8th. Citizens Jmp upped their price target on ACRES Commercial Realty from $23.50 to $24.50 and gave the company a “market outperform” rating in a report on Friday, October 31st. Wall Street Zen upgraded ACRES Commercial Realty from a “strong sell” rating to a “hold” rating in a research report on Saturday, November 1st. JMP Securities set a $24.50 target price on ACRES Commercial Realty in a report on Friday, October 31st. Finally, Citigroup reaffirmed an “outperform” rating on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus 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. Vanguard Group Inc. boosted its position in shares of ACRES Commercial Realty by 3.1% in the third quarter. Vanguard Group Inc. now owns 383,696 shares of the company’s stock worth $8,119,000 after buying an additional 11,465 shares during the period. JPMorgan Chase & Co. boosted its position in ACRES Commercial Realty by 177.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,082 shares of the company’s stock worth $171,000 after acquiring an additional 5,173 shares during the period. Bailard Inc. purchased a new position in ACRES Commercial Realty during the 3rd quarter valued at about $387,000. Ritholtz Wealth Management grew its stake in ACRES Commercial Realty by 18.6% during the 3rd quarter. Ritholtz Wealth Management now owns 40,199 shares of the company’s stock valued at $851,000 after acquiring an additional 6,310 shares in the last quarter. Finally, Gratia Capital LLC increased its holdings in shares of ACRES Commercial Realty by 64.3% in the 2nd quarter. Gratia Capital LLC now owns 125,994 shares of the company’s stock valued at $2,260,000 after purchasing an additional 49,312 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

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.