Eagle Point Credit Management Sells 1,527 Shares of ACRES Commercial Realty (NYSE:ACR) Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 1,527 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $22.56, for a total transaction of $34,449.12. Following the completion of the transaction, the insider directly owned 344,100 shares in the company, valued at approximately $7,762,896. The trade was a 0.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 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, June 12th, Eagle Point Credit Management sold 849 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.47, for a total transaction of $21,624.03.
• On Thursday, June 11th, Eagle Point Credit Management sold 215 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.47, for a total transaction of $5,476.05.
• On Wednesday, June 3rd, Eagle Point Credit Management sold 422 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.55, for a total transaction of $9,516.10.
• On Monday, June 1st, Eagle Point Credit Management sold 5,806 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.41, for a total transaction of $147,530.46.
• On Wednesday, May 20th, Eagle Point Credit Management sold 404 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.50, for a total transaction of $9,090.00.
• On Monday, March 30th, Eagle Point Credit Management sold 1,095 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.12, for a total transaction of $24,221.40.
• On Monday, March 16th, Eagle Point Credit Management sold 2,954 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.07, for a total transaction of $65,194.78.

ACRES Commercial Realty Trading Up 0.2%

ACR opened at $18.06 on Friday. The firm’s fifty day moving average is $19.96 and its two-hundred day moving average is $20.15. The company has a debt-to-equity ratio of 3.36, a quick ratio of 164.62 and a current ratio of 164.62. The firm has a market cap of $128.77 million, a PE ratio of 27.79 and a beta of 1.07. ACRES Commercial Realty Corp. has a twelve month low of $17.06 and a twelve month high of $24.61.

ACRES Commercial Realty (NYSE:ACR) last posted its earnings results on Thursday, April 30th. The company reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02. The company had revenue of $17.82 million for the quarter, compared to analyst estimates of $20.55 million. ACRES Commercial Realty had a net margin of 37.20% and a return on equity of 5.61%. Equities research analysts anticipate that ACRES Commercial Realty Corp. will post 0.15 EPS for the current year.

Institutional Investors Weigh In On ACRES Commercial Realty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACR. BNP Paribas Financial Markets increased its stake in ACRES Commercial Realty by 120.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company’s stock valued at $29,000 after buying an additional 739 shares during the last quarter. JPMorgan Chase & Co. bought a new position in shares of ACRES Commercial Realty in the 2nd quarter valued at about $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of ACRES Commercial Realty in the 2nd quarter valued at about $60,000. Bank of America Corp DE grew its position in shares of ACRES Commercial Realty by 110.4% in the 2nd quarter. Bank of America Corp DE now owns 3,671 shares of the company’s stock valued at $66,000 after acquiring an additional 1,926 shares during the period. Finally, MetLife Investment Management LLC bought a new position in shares of ACRES Commercial Realty in the 4th quarter valued at about $76,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ACR. Wall Street Zen raised shares of ACRES Commercial Realty from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 18th. Weiss Ratings raised shares of ACRES Commercial Realty from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.