ACRES Commercial Realty Corp. (NYSE:ACR – Get Free Report) major shareholder Eagle Point Credit Management sold 2,212 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $21.80, for a total value of $48,221.60. Following the completion of the transaction, the insider owned 716,679 shares in the company, valued at approximately $15,623,602.20. The trade was a 0.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Eagle Point Credit Management also recently made the following trade(s):
- On Tuesday, July 28th, Eagle Point Credit Management sold 206 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $21.79, for a total value of $4,488.74.
- On Monday, July 27th, Eagle Point Credit Management sold 1,389 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $21.78, for a total value of $30,252.42.
- On Wednesday, June 24th, Eagle Point Credit Management sold 2,076 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.50, for a total value of $46,710.00.
- On Monday, June 15th, Eagle Point Credit Management sold 5,981 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.37, for a total value of $145,756.97.
- On Friday, June 12th, Eagle Point Credit Management sold 849 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.47, for a total value 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 10th, Eagle Point Credit Management sold 1,527 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.56, for a total transaction of $34,449.12.
- On Wednesday, June 3rd, Eagle Point Credit Management sold 422 shares of ACRES Commercial Realty stock. The shares were 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 shares were sold at an average price of $22.50, for a total transaction of $9,090.00.
ACRES Commercial Realty Stock Down 0.5%
ACRES Commercial Realty stock opened at $17.55 on Friday. The firm has a market capitalization of $125.10 million, a price-to-earnings ratio of -15.67 and a beta of 1.09. The firm’s fifty day moving average price is $18.04 and its two-hundred day moving average price is $19.03. ACRES Commercial Realty Corp. has a 1-year low of $15.61 and a 1-year high of $24.61. The company has a current ratio of 164.62, a quick ratio of 164.62 and a debt-to-equity ratio of 3.36.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in ACR. Eagle Point Credit Management LLC purchased a new position in ACRES Commercial Realty during the fourth quarter worth about $25,118,000. Vanguard Group Inc. grew its position in ACRES Commercial Realty by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 383,696 shares of the company’s stock worth $8,119,000 after purchasing an additional 11,465 shares in the last quarter. Geode Capital Management LLC grew its position in ACRES Commercial Realty by 125.1% in 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 in the last quarter. State Street Corp increased its stake in ACRES Commercial Realty by 8.5% in the 4th quarter. State Street Corp now owns 86,053 shares of the company’s stock valued at $1,836,000 after buying an additional 6,713 shares during the last quarter. Finally, Raymond James Financial Inc. increased its stake in ACRES Commercial Realty by 2.5% in the 3rd quarter. Raymond James Financial Inc. now owns 80,129 shares of the company’s stock valued at $1,696,000 after buying an additional 1,979 shares during the last quarter. 40.03% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have commented on the company. Weiss Ratings raised ACRES Commercial Realty from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Zacks Research lowered ACRES Commercial Realty from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Finally, Wall Street Zen cut ACRES Commercial Realty from a “hold” rating to a “sell” rating in a research report on Sunday, July 5th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, ACRES Commercial Realty presently has an average rating of “Hold” 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.
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