Eagle Point Credit Management Sells 600 Shares of ACRES Commercial Realty (NYSE:ACR) Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $25.25, for a total transaction of $15,150.00. Following the transaction, the insider owned 354,448 shares of the company’s stock, valued at $8,949,812. This trade represents a 0.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Thursday, February 26th, Eagle Point Credit Management sold 1,301 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.28, for a total transaction of $32,889.28.
• On Wednesday, February 25th, Eagle Point Credit Management sold 1,800 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.25, for a total transaction of $45,450.00.
• On Thursday, February 19th, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.23, for a total value of $2,523.00.
• On Wednesday, February 18th, Eagle Point Credit Management sold 409 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.20, for a total value of $10,306.80.
• On Tuesday, February 17th, Eagle Point Credit Management sold 273 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.20, for a total value of $6,060.60.
• 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 value 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 value of $1,098.58.
• On Monday, February 2nd, Eagle Point Credit Management sold 5,200 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.11, for a total value of $114,972.00.
• On Friday, January 30th, Eagle Point Credit Management sold 4,780 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $23.89, for a total value of $114,194.20.
• On Thursday, January 29th, Eagle Point Credit Management sold 53 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.10, for a total value of $1,171.30.

ACRES Commercial Realty Stock Performance

Shares of ACRES Commercial Realty stock opened at $18.55 on Friday. 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 52 week low of $16.51 and a 52 week high of $24.61. The firm’s 50 day moving average is $19.85 and its two-hundred day moving average is $20.66. The firm has a market capitalization of $135.12 million, a P/E ratio of 19.32 and a beta of 1.19.

Institutional Trading of ACRES Commercial Realty

Hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC acquired a new position in shares of ACRES Commercial Realty in the first quarter valued at approximately $133,000. Goldman Sachs Group Inc. purchased a new position in ACRES Commercial Realty in the 1st quarter valued at $488,000. Jane Street Group LLC grew its position in ACRES Commercial Realty by 190.8% in the 1st quarter. Jane Street Group LLC now owns 38,434 shares of the company’s stock valued at $833,000 after buying an additional 25,216 shares during the last quarter. Acadian Asset Management LLC increased its stake in ACRES Commercial Realty by 16.8% in the 2nd 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. Finally, Geode Capital Management LLC raised its position in 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 buying an additional 76,688 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Citizens Jmp set a $24.50 price target on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Weiss Ratings reissued a “hold (c)” rating on shares of ACRES Commercial Realty in a research report on Monday, December 29th. Zacks Research raised ACRES Commercial Realty to a “hold” rating in a research report on Friday, December 19th. Wall Street Zen cut ACRES Commercial Realty from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Citigroup restated an “outperform” rating on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price 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.