Insider Selling: ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells $127,360.80 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 5,054 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $25.20, for a total value of $127,360.80. Following the completion of the transaction, the insider directly owned 382,409 shares of the company’s stock, valued at approximately $9,636,706.80. This represents a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a filing 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, November 28th, Eagle Point Credit Management sold 913 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.19, for a total value of $22,998.47.
• On Monday, November 24th, Eagle Point Credit Management sold 723 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.19, for a total value of $18,212.37.
• On Monday, November 17th, Eagle Point Credit Management sold 718 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.17, for a total value of $18,072.06.
• On Thursday, November 13th, Eagle Point Credit Management sold 733 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.15, for a total value of $18,434.95.
• On Wednesday, November 12th, Eagle Point Credit Management sold 2,593 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.80, for a total transaction of $59,120.40.
• On Tuesday, November 11th, Eagle Point Credit Management sold 1,161 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.20, for a total transaction of $25,774.20.
• On Friday, November 7th, Eagle Point Credit Management sold 140 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.15, for a total transaction of $3,521.00.
• On Thursday, November 6th, Eagle Point Credit Management sold 200 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.15, for a total transaction of $5,030.00.
• On Wednesday, November 5th, Eagle Point Credit Management sold 3,637 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.30, for a total transaction of $81,105.10.
• On Tuesday, November 4th, Eagle Point Credit Management sold 352 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.17, for a total transaction of $7,803.84.

ACRES Commercial Realty Price Performance

ACRES Commercial Realty stock opened at $22.97 on Friday. The business’s 50 day simple moving average is $20.73 and its 200 day simple moving average is $19.71. ACRES Commercial Realty Corp. has a 12 month low of $14.94 and a 12 month high of $23.81. The company has a market cap of $167.45 million, a price-to-earnings ratio of 23.93 and a beta of 1.21. The company has a current ratio of 104.99, a quick ratio of 104.99 and a debt-to-equity ratio of 2.73.

ACRES Commercial Realty declared that its Board of Directors has approved a share repurchase plan on Wednesday, October 29th that permits the company to buyback $7.50 million in outstanding shares. This buyback authorization permits the company to reacquire up to 5.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On ACRES Commercial Realty

A number of large investors have recently modified their holdings of ACR. Raymond James Financial Inc. grew its stake in ACRES Commercial Realty by 2.5% during the third quarter. Raymond James Financial Inc. now owns 80,129 shares of the company’s stock valued at $1,696,000 after acquiring an additional 1,979 shares in the last quarter. Oaktree Capital Management LP bought a new position in ACRES Commercial Realty in the 3rd quarter valued at $8,282,000. BNP Paribas Financial Markets grew its position in shares of ACRES Commercial Realty by 120.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company’s stock valued at $29,000 after purchasing an additional 739 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of ACRES Commercial Realty by 68.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 8,835 shares of the company’s stock valued at $186,000 after purchasing an additional 3,587 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of ACRES Commercial Realty by 3.1% in the third quarter. Vanguard Group Inc. now owns 383,696 shares of the company’s stock worth $8,119,000 after purchasing an additional 11,465 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on ACR. Citigroup reissued an “outperform” rating on shares of ACRES Commercial Realty in a report on Friday, October 31st. JMP Securities set a $24.50 target price on shares of ACRES Commercial Realty in a research note on Friday, October 31st. Citizens Jmp boosted their price target on shares of ACRES Commercial Realty from $23.50 to $24.50 and gave the company a “market outperform” rating in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ACRES Commercial Realty in a report on Monday. Finally, Wall Street Zen upgraded shares of ACRES Commercial Realty from a “strong sell” rating to a “hold” rating in a research note on Saturday, November 1st. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $24.50.

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.