ACRES Commercial Realty (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 5,200 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 5,200 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $22.11, for a total transaction of $114,972.00. Following the completion of the sale, the insider directly owned 746,233 shares of the company’s stock, valued at $16,499,211.63. This trade represents a 0.69% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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, February 4th, Eagle Point Credit Management sold 97 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.12, for a total transaction of $2,145.64.
• On Tuesday, February 3rd, Eagle Point Credit Management sold 49 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.42, for a total transaction of $1,098.58.
• On Friday, January 30th, Eagle Point Credit Management sold 4,780 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $23.89, for a total transaction of $114,194.20.
• On Thursday, January 29th, Eagle Point Credit Management sold 53 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.10, for a total value of $1,171.30.
• On Wednesday, January 28th, Eagle Point Credit Management sold 201 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.10, for a total value of $4,442.10.
• On Friday, January 23rd, Eagle Point Credit Management sold 1,100 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.02, for a total value of $24,222.00.
• On Wednesday, January 21st, Eagle Point Credit Management sold 692 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.07, for a total value of $15,272.44.
• On Wednesday, January 14th, Eagle Point Credit Management sold 5,400 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.99, for a total value of $134,946.00.
• On Friday, January 9th, Eagle Point Credit Management sold 3,702 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.89, for a total value of $92,142.78.
• On Tuesday, January 13th, Eagle Point Credit Management sold 13,979 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.93, for a total value of $348,496.47.

ACRES Commercial Realty Trading Down 2.0%

Shares of ACRES Commercial Realty stock traded down $0.39 on Wednesday, hitting $18.88. The stock had a trading volume of 21,573 shares, compared to its average volume of 22,968. The company has a quick ratio of 104.99, a current ratio of 104.99 and a debt-to-equity ratio of 2.73. ACRES Commercial Realty Corp. has a one year low of $16.51 and a one year high of $24.61. The stock’s 50-day simple moving average is $21.38 and its two-hundred day simple moving average is $20.75. The stock has a market cap of $137.60 million, a price-to-earnings ratio of 19.66 and a beta of 1.19.

ACRES Commercial Realty announced that its Board of Directors has initiated a share repurchase program on Wednesday, October 29th that permits the company to repurchase $7.50 million in outstanding shares. This repurchase authorization permits the company to buy up to 5.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ACR. Cubist Systematic Strategies LLC purchased a new position in shares of ACRES Commercial Realty in the 1st quarter valued at approximately $133,000. Goldman Sachs Group Inc. bought a new position in ACRES Commercial Realty in the first quarter worth $488,000. Jane Street Group LLC raised its holdings in ACRES Commercial Realty by 190.8% in the first quarter. Jane Street Group LLC now owns 38,434 shares of the company’s stock worth $833,000 after purchasing an additional 25,216 shares in the last quarter. Ritholtz Wealth Management lifted its position in ACRES Commercial Realty by 12.0% during the second quarter. Ritholtz Wealth Management now owns 33,889 shares of the company’s stock valued at $608,000 after buying an additional 3,618 shares during the period. Finally, Acadian Asset Management LLC lifted its position in ACRES Commercial Realty by 16.8% during the second quarter. Acadian Asset Management LLC now owns 182,679 shares of the company’s stock valued at $3,272,000 after buying an additional 26,226 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ACR shares. Wall Street Zen upgraded shares of ACRES Commercial Realty from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ACRES Commercial Realty in a research report on Monday, December 29th. Citigroup reiterated an “outperform” rating on shares of ACRES Commercial Realty in a report on Friday, October 31st. JMP Securities set a $24.50 price objective on ACRES Commercial Realty in a research report on Friday, October 31st. Finally, Zacks Research raised ACRES Commercial Realty to a “hold” rating in a research note on Friday, December 19th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently 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.