ACRES Commercial Realty (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 1,527 Shares of Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 1,527 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $22.56, for a total transaction of $34,449.12. Following the sale, the insider owned 344,100 shares in the company, valued at approximately $7,762,896. This trade represents a 0.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 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 transaction 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 transaction of $5,476.05.
• 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 transaction 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 transaction 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 stock was 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 stock was sold at an average price of $22.07, for a total transaction of $65,194.78.

ACRES Commercial Realty Price Performance

ACR opened at $18.06 on Friday. The firm has a market cap of $128.77 million, a price-to-earnings ratio of 27.79 and a beta of 1.07. ACRES Commercial Realty Corp. has a fifty-two week low of $17.06 and a fifty-two week high of $24.61. The company’s 50-day moving average price is $19.96 and its 200 day moving average price is $20.15. The company has a quick ratio of 164.62, a current ratio of 164.62 and a debt-to-equity ratio of 3.36.

ACRES Commercial Realty (NYSE:ACR) last posted its earnings results on Thursday, April 30th. The company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. ACRES Commercial Realty had a net margin of 37.20% and a return on equity of 5.61%. The firm had revenue of $17.82 million during the quarter, compared to analysts’ expectations of $20.55 million. As a group, sell-side analysts expect that ACRES Commercial Realty Corp. will post 0.25 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of ACRES Commercial Realty

Large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets boosted its holdings in ACRES Commercial Realty by 120.2% during the third quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company’s stock worth $29,000 after buying an additional 739 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in ACRES Commercial Realty during the second quarter worth approximately $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in ACRES Commercial Realty during the second quarter worth approximately $60,000. Bank of America Corp DE boosted its holdings in 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 buying an additional 1,926 shares in the last quarter. Finally, MetLife Investment Management LLC bought a new stake in ACRES Commercial Realty during the fourth quarter worth approximately $76,000. 40.03% of the stock is currently owned by institutional investors.

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.