Insider Selling: ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells 2,500 Shares of Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 2,500 shares of the business’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $22.68, for a total value of $56,700.00. Following the completion of the transaction, the insider directly owned 771,484 shares of the company’s stock, valued at approximately $17,497,257.12. This trade represents a 0.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, September 24th, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.60, for a total value of $2,260.00.
• On Monday, September 22nd, Eagle Point Credit Management sold 126 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.63, for a total value of $2,851.38.
• On Friday, September 19th, Eagle Point Credit Management sold 402 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.62, for a total value of $9,093.24.
• On Thursday, September 18th, Eagle Point Credit Management sold 2,456 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.61, for a total value of $55,530.16.
• On Wednesday, September 17th, Eagle Point Credit Management sold 2,825 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.61, for a total value of $63,873.25.
• On Tuesday, September 16th, Eagle Point Credit Management sold 10,062 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.57, for a total value of $227,099.34.
• On Monday, September 15th, Eagle Point Credit Management sold 389 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.57, for a total value of $8,779.73.
• On Friday, September 12th, Eagle Point Credit Management sold 310 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.57, for a total value of $6,996.70.
• On Thursday, September 11th, Eagle Point Credit Management sold 5,945 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.52, for a total value of $133,881.40.
• On Wednesday, September 10th, Eagle Point Credit Management sold 3,142 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.48, for a total value of $70,632.16.

ACRES Commercial Realty Price Performance

Shares of ACRES Commercial Realty stock opened at $20.58 on Friday. The company has a quick ratio of 69.53, a current ratio of 69.53 and a debt-to-equity ratio of 3.01. ACRES Commercial Realty Corp. has a twelve month low of $14.87 and a twelve month high of $23.81. The business has a 50-day moving average price of $20.45 and a 200 day moving average price of $19.26. The firm has a market cap of $152.87 million, a PE ratio of -1,028.24 and a beta of 1.80.

Wall Street Analysts Forecast Growth

Separately, JMP Securities lifted their price target on ACRES Commercial Realty from $22.00 to $23.50 and gave the company a “market outperform” rating in a research note on Thursday, September 11th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, ACRES Commercial Realty presently has an average rating of “Moderate Buy” and a consensus target price of $23.50.

Institutional Investors Weigh In On ACRES Commercial Realty

A number of large investors have recently made changes to their positions in ACR. JPMorgan Chase & Co. purchased a new stake in shares of ACRES Commercial Realty in the second quarter valued at approximately $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of ACRES Commercial Realty in the second quarter valued at approximately $60,000. Bank of America Corp DE grew its position in shares of ACRES Commercial Realty by 110.4% in the second quarter. Bank of America Corp DE now owns 3,671 shares of the company’s stock valued at $66,000 after purchasing an additional 1,926 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of ACRES Commercial Realty in the second quarter valued at approximately $93,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of ACRES Commercial Realty in the second quarter valued at approximately $106,000. 40.03% of the stock is currently owned by hedge funds and other 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.