Insider Selling: ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Sells 18,464 Shares of Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 18,464 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $25.00, for a total transaction of $461,600.00. Following the completion of the sale, the insider now owns 659,267 shares of the company’s stock, valued at approximately $16,481,675. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, June 25th, Eagle Point Credit Management sold 7,005 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.01, for a total transaction of $175,195.05.

ACRES Commercial Realty Stock Performance

ACRES Commercial Realty stock traded up $0.17 during mid-day trading on Thursday, reaching $12.92. 10,433 shares of the company traded hands, compared to its average volume of 24,329. The company has a debt-to-equity ratio of 3.67, a current ratio of 90.61 and a quick ratio of 90.61. ACRES Commercial Realty Corp. has a fifty-two week low of $6.62 and a fifty-two week high of $14.35. The company has a market capitalization of $102.80 million, a price-to-earnings ratio of 18.45 and a beta of 2.02. The firm’s fifty day moving average is $13.15 and its two-hundred day moving average is $11.73.

ACRES Commercial Realty (NYSE:ACR) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.25). The company had revenue of $18.77 million for the quarter, compared to analyst estimates of $13.00 million. ACRES Commercial Realty had a net margin of 28.51% and a return on equity of 7.76%. During the same quarter in the previous year, the company posted $0.42 EPS. On average, equities research analysts expect that ACRES Commercial Realty Corp. will post 1.16 earnings per share for the current fiscal year.

Institutional Trading of ACRES Commercial Realty

Several large investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC purchased a new stake in ACRES Commercial Realty during the first quarter worth $172,000. O Shaughnessy Asset Management LLC purchased a new stake in ACRES Commercial Realty during the first quarter worth $580,000. Acadian Asset Management LLC boosted its holdings in ACRES Commercial Realty by 19.2% during the first quarter. Acadian Asset Management LLC now owns 105,420 shares of the company’s stock worth $1,480,000 after buying an additional 16,986 shares in the last quarter. Finally, Nokomis Capital L.L.C. purchased a new stake in ACRES Commercial Realty during the first quarter worth $3,729,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, JMP Securities boosted their price objective on shares of ACRES Commercial Realty from $14.00 to $15.50 and gave the stock a “market outperform” rating in a research note on Tuesday, April 30th.

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.