ACRES Commercial Realty (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 1,372 Shares of Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 1,372 shares of ACRES Commercial Realty stock in a transaction on Monday, December 15th. The shares were sold at an average price of $22.26, for a total transaction of $30,540.72. Following the completion of the transaction, the insider owned 761,345 shares in the company, valued at approximately $16,947,539.70. This represents a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own more than 10% 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 Friday, December 12th, Eagle Point Credit Management sold 114 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.26, for a total value of $2,537.64.
• On Thursday, December 11th, Eagle Point Credit Management sold 1,258 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $23.82, for a total value of $29,965.56.
• On Wednesday, December 10th, Eagle Point Credit Management sold 98 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.24, for a total value of $2,473.52.
• On Friday, December 5th, Eagle Point Credit Management sold 99 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.22, for a total value of $2,496.78.
• On Thursday, December 4th, Eagle Point Credit Management sold 48 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.22, for a total value of $1,210.56.
• On Monday, December 1st, Eagle Point Credit Management sold 5,054 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.20, for a total transaction of $127,360.80.
• 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 transaction 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 transaction of $18,212.37.
• On Monday, November 17th, Eagle Point Credit Management sold 718 shares of ACRES Commercial Realty stock. The stock was 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.

ACRES Commercial Realty Price Performance

Shares of ACR traded up $0.44 during trading hours on Thursday, reaching $24.31. The company had a trading volume of 17,298 shares, compared to its average volume of 35,001. 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 Corp. has a 12-month low of $14.94 and a 12-month high of $24.45. The firm has a 50 day simple moving average of $21.25 and a 200-day simple moving average of $20.04. The company has a market capitalization of $177.22 million, a price-to-earnings ratio of 25.10 and a beta of 1.21.

ACRES Commercial Realty announced that its board has initiated a share buyback plan on Wednesday, October 29th that authorizes the company to buyback $7.50 million in shares. This buyback authorization authorizes the company to repurchase up to 5.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On ACRES Commercial Realty

Several institutional investors and hedge funds have recently modified their holdings of the company. Oaktree Capital Management LP acquired a new stake in ACRES Commercial Realty during the third quarter worth approximately $8,282,000. Geode Capital Management LLC lifted its stake in shares of ACRES Commercial Realty by 125.1% during the 2nd quarter. Geode Capital Management LLC now owns 137,996 shares of the company’s stock worth $2,476,000 after purchasing an additional 76,688 shares during the period. Gratia Capital LLC boosted its holdings in shares of ACRES Commercial Realty by 64.3% during the second quarter. Gratia Capital LLC now owns 125,994 shares of the company’s stock worth $2,260,000 after purchasing an additional 49,312 shares during the last quarter. Raymond James Financial Inc. grew its position in shares of ACRES Commercial Realty by 60.6% in the second quarter. Raymond James Financial Inc. now owns 78,150 shares of the company’s stock valued at $1,402,000 after purchasing an additional 29,503 shares during the period. Finally, Acadian Asset Management LLC increased its stake in ACRES Commercial Realty by 16.8% in the second quarter. Acadian Asset Management LLC now owns 182,679 shares of the company’s stock valued at $3,272,000 after purchasing an additional 26,226 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.