ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells $25,774.20 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 1,161 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $22.20, for a total value of $25,774.20. Following the sale, the insider owned 765,500 shares of the company’s stock, valued at $16,994,100. The trade was a 0.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Large 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 Thursday, November 13th, Eagle Point Credit Management sold 733 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.15, for a total transaction of $18,434.95.
• On Wednesday, November 12th, Eagle Point Credit Management sold 2,593 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.80, for a total transaction of $59,120.40.
• 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 transaction 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 Wednesday, November 5th, Eagle Point Credit Management sold 3,637 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.30, for a total transaction of $81,105.10.
• 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 stock was sold at an average price of $22.07, for a total value 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 value of $56,700.00.

ACRES Commercial Realty Stock Performance

Shares of ACR stock opened at $21.51 on Friday. ACRES Commercial Realty Corp. has a fifty-two week low of $14.94 and a fifty-two week high of $23.81. The company has a debt-to-equity ratio of 3.01, a current ratio of 69.53 and a quick ratio of 69.53. The firm has a market cap of $156.69 million, a P/E ratio of -1,074.71 and a beta of 1.77. The stock’s 50-day moving average is $20.68 and its two-hundred day moving average is $19.48.

ACRES Commercial Realty declared that its board has approved a stock buyback plan on Wednesday, October 29th that authorizes the company to buyback $7.50 million in shares. This buyback authorization authorizes the company to purchase up to 5.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets boosted its holdings in shares of ACRES Commercial Realty by 120.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company’s stock worth $29,000 after acquiring an additional 739 shares in the last quarter. Biltmore Family Office LLC raised its position in ACRES Commercial Realty by 6.6% in the 1st quarter. Biltmore Family Office LLC now owns 23,552 shares of the company’s stock valued at $510,000 after purchasing an additional 1,448 shares during the last quarter. Acadian Asset Management LLC boosted its stake in ACRES Commercial Realty by 1.2% in the first quarter. Acadian Asset Management LLC now owns 156,453 shares of the company’s stock worth $3,386,000 after purchasing an additional 1,851 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of ACRES Commercial Realty by 110.4% during 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 last quarter. Finally, Raymond James Financial Inc. increased its stake in shares of ACRES Commercial Realty by 2.5% in the third quarter. Raymond James Financial Inc. now owns 80,129 shares of the company’s stock valued at $1,696,000 after buying an additional 1,979 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ACR shares. Citigroup restated an “outperform” rating on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Weiss Ratings reiterated a “hold (c-)” rating on shares of ACRES Commercial Realty in a research note on Wednesday, October 8th. JMP Securities set a $24.50 price target on ACRES Commercial Realty in a research note on Friday, October 31st. Citizens Jmp increased their price target on shares of ACRES Commercial Realty from $23.50 to $24.50 and gave the stock a “market outperform” rating in a research report on Friday, October 31st. Finally, Wall Street Zen upgraded shares of ACRES Commercial Realty from a “strong sell” rating to a “hold” rating in a research note on Saturday, November 1st. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.