ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Sells $76,072.32 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 3,384 shares of the stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $22.48, for a total value of $76,072.32. Following the sale, the insider now owns 861,523 shares in the company, valued at approximately $19,367,037.04. This trade represents a 0.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own 10% or more 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 Monday, March 24th, Eagle Point Credit Management sold 854 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.45, for a total value of $19,172.30.
• On Wednesday, March 19th, Eagle Point Credit Management sold 9,937 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $23.08, for a total value of $229,345.96.
• On Thursday, March 13th, Eagle Point Credit Management sold 8,657 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.47, for a total transaction of $194,522.79.
• 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 shares were sold at an average price of $22.40, for a total transaction of $164,304.00.
• On Monday, December 30th, Eagle Point Credit Management sold 200 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.20, for a total transaction of $5,040.00.

ACRES Commercial Realty Trading Down 1.5 %

ACRES Commercial Realty stock traded down $0.32 during trading on Friday, reaching $21.12. The company had a trading volume of 44,139 shares, compared to its average volume of 21,471. ACRES Commercial Realty Corp. has a 12-month low of $12.33 and a 12-month high of $23.81. The company has a debt-to-equity ratio of 3.33, a quick ratio of 73.84 and a current ratio of 73.84. The stock’s 50 day moving average price is $19.91 and its two-hundred day moving average price is $17.49. The firm has a market capitalization of $157.44 million, a price-to-earnings ratio of 25.14 and a beta of 2.12.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ACR shares. Jones Trading restated a “hold” rating on shares of ACRES Commercial Realty in a report on Thursday, March 13th. JMP Securities increased their target price on ACRES Commercial Realty to $22.00 and gave the stock a “buy” rating in a research report on Friday, March 7th.

Hedge Funds Weigh In On ACRES Commercial Realty

Hedge funds have recently made changes to their positions in the stock. Barclays PLC raised its position in shares of ACRES Commercial Realty by 147.1% in the 3rd quarter. Barclays PLC now owns 3,499 shares of the company’s stock worth $55,000 after buying an additional 2,083 shares during the period. Sei Investments Co. acquired a new stake in ACRES Commercial Realty during the fourth quarter worth about $162,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of ACRES Commercial Realty in the 3rd quarter worth about $177,000. Jane Street Group LLC acquired a new position in shares of ACRES Commercial Realty in the 4th quarter valued at about $213,000. Finally, Biltmore Family Office LLC grew its holdings in shares of ACRES Commercial Realty by 41.7% during the 4th quarter. Biltmore Family Office LLC now owns 22,104 shares of the company’s stock worth $357,000 after purchasing an additional 6,504 shares during the period. Institutional investors and hedge funds 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.