ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 8,657 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 8,657 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $22.47, for a total transaction of $194,522.79. Following the completion of the transaction, the insider now owns 877,539 shares in the company, valued at $19,718,301.33. This trade represents a 0.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 Thursday, January 30th, Eagle Point Credit Management sold 811 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.90, for a total transaction of $20,193.90.
• On Wednesday, January 22nd, Eagle Point Credit Management sold 7,335 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.40, for a total value of $164,304.00.
• On Monday, December 30th, Eagle Point Credit Management sold 200 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.20, for a total value of $5,040.00.
• On Thursday, December 26th, Eagle Point Credit Management sold 420 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.20, for a total value of $10,584.00.
• On Monday, December 23rd, Eagle Point Credit Management sold 2,388 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.20, for a total value of $60,177.60.
• On Friday, December 20th, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.20, for a total transaction of $2,520.00.
• On Wednesday, December 18th, Eagle Point Credit Management sold 6,816 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.77, for a total transaction of $168,832.32.

ACRES Commercial Realty Stock Performance

ACR opened at $23.64 on Wednesday. ACRES Commercial Realty Corp. has a 1-year low of $11.59 and a 1-year high of $23.81. The company has a market cap of $182.87 million, a price-to-earnings ratio of 28.14 and a beta of 2.12. The company’s fifty day moving average price is $19.24 and its two-hundred day moving average price is $17.18. The company has a current ratio of 73.84, a quick ratio of 73.84 and a debt-to-equity ratio of 3.33.

Institutional Investors Weigh In On ACRES Commercial Realty

Institutional investors and hedge funds have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. bought a new stake in ACRES Commercial Realty during the 3rd quarter worth approximately $177,000. Biltmore Family Office LLC grew its holdings in ACRES Commercial Realty by 24.8% during the third quarter. Biltmore Family Office LLC now owns 15,600 shares of the company’s stock worth $244,000 after buying an additional 3,100 shares in the last quarter. Barclays PLC raised its position in ACRES Commercial Realty by 147.1% in the 3rd quarter. Barclays PLC now owns 3,499 shares of the company’s stock valued at $55,000 after buying an additional 2,083 shares during the last quarter. Bank of New York Mellon Corp bought a new position in ACRES Commercial Realty during the 4th quarter valued at $412,000. Finally, Raymond James Financial Inc. purchased a new position in ACRES Commercial Realty during the 4th quarter worth $829,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ACR shares. Jones Trading reissued a “hold” rating on shares of ACRES Commercial Realty in a research report on Thursday, March 13th. JMP Securities raised their price objective on ACRES Commercial Realty to $22.00 and gave the company a “buy” rating in a research note on Friday, March 7th.

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.