ACRES Commercial Realty (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 1,095 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 1,095 shares of ACRES Commercial Realty stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $22.12, for a total value of $24,221.40. Following the completion of the sale, the insider directly owned 737,928 shares in the company, valued at $16,322,967.36. This represents a 0.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 Monday, March 16th, Eagle Point Credit Management sold 2,954 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.07, for a total value of $65,194.78.
• On Tuesday, March 3rd, Eagle Point Credit Management sold 3,142 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $21.80, for a total transaction of $68,495.60.
• On Monday, March 2nd, Eagle Point Credit Management sold 2,140 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.08, for a total transaction of $51,531.20.
• 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 Tuesday, February 24th, Eagle Point Credit Management sold 600 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.25, for a total value of $15,150.00.
• 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 stock was 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 stock was 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 shares were sold at an average price of $22.12, for a total value of $2,145.64.

ACRES Commercial Realty Stock Down 1.7%

Shares of ACR opened at $18.85 on Friday. ACRES Commercial Realty Corp. has a 52-week low of $16.51 and a 52-week high of $24.61. The company has a quick ratio of 135.18, a current ratio of 135.18 and a debt-to-equity ratio of 2.81. The stock has a fifty day simple moving average of $18.93 and a two-hundred day simple moving average of $20.38. The company has a market capitalization of $134.40 million, a PE ratio of 1,886.89 and a beta of 1.11.

Institutional Investors Weigh In On ACRES Commercial Realty

Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets boosted its holdings in 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 acquiring an additional 739 shares during the period. JPMorgan Chase & Co. purchased a new stake in ACRES Commercial Realty during the second quarter worth about $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in ACRES Commercial Realty during the second quarter worth about $60,000. MetLife Investment Management LLC acquired a new stake in shares of ACRES Commercial Realty during the fourth quarter worth about $76,000. Finally, Bank of America Corp DE boosted its stake 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 during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ACR shares. Wall Street Zen downgraded shares of ACRES Commercial Realty from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Zacks Research upgraded shares of ACRES Commercial Realty to a “hold” rating in a report on Friday, December 19th. Finally, Weiss Ratings raised shares of ACRES Commercial Realty from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, ACRES Commercial Realty presently has a consensus rating of “Moderate Buy” and an average 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.