Insider Selling: ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells 3,142 Shares of Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 3,142 shares of ACRES Commercial Realty stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $21.80, for a total transaction of $68,495.60. Following the completion of the sale, the insider directly owned 741,977 shares in the company, valued at $16,175,098.60. This trade represents a 0.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Monday, March 2nd, Eagle Point Credit Management sold 2,140 shares of ACRES Commercial Realty stock. The shares were 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 transaction of $15,150.00.
• On Thursday, February 19th, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.23, for a total transaction 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 transaction 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 transaction 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 transaction of $1,098.58.
• On Monday, February 2nd, Eagle Point Credit Management sold 5,200 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.11, for a total value of $114,972.00.

ACRES Commercial Realty Stock Performance

NYSE ACR traded up $0.09 during trading hours on Wednesday, hitting $18.86. The company’s stock had a trading volume of 13,113 shares, compared to its average volume of 20,602. The company’s 50 day simple moving average is $19.68 and its two-hundred day simple moving average is $20.65. ACRES Commercial Realty Corp. has a 12 month low of $16.51 and a 12 month high of $24.61. The company has a market cap of $137.49 million, a P/E ratio of 58.66 and a beta of 1.19. The company has a debt-to-equity ratio of 2.73, a current ratio of 104.99 and a quick ratio of 104.99.

ACRES Commercial Realty (NYSE:ACR) last issued its quarterly earnings data on Wednesday, March 4th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.42). The firm had revenue of $20.03 million during the quarter, compared to the consensus estimate of $20.58 million. ACRES Commercial Realty had a return on equity of 4.74% and a net margin of 35.16%. As a group, sell-side analysts expect that ACRES Commercial Realty Corp. will post 0.78 EPS for the current fiscal year.

Analysts Set New Price Targets

ACR has been the subject of a number of recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of ACRES Commercial Realty in a report on Monday, December 29th. Zacks Research raised shares of ACRES Commercial Realty to a “hold” rating in a research report on Friday, December 19th. Finally, Wall Street Zen downgraded ACRES Commercial Realty from a “hold” rating to a “sell” rating in a research report on Saturday. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $24.50.

Institutional Investors Weigh In On ACRES Commercial Realty

A number of institutional investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC purchased a new position in ACRES Commercial Realty in the 1st quarter worth approximately $133,000. Goldman Sachs Group Inc. purchased a new stake in shares of ACRES Commercial Realty in the 1st quarter valued at $488,000. Jane Street Group LLC lifted its holdings in ACRES Commercial Realty by 190.8% during the 1st quarter. Jane Street Group LLC now owns 38,434 shares of the company’s stock worth $833,000 after buying an additional 25,216 shares in the last quarter. Acadian Asset Management LLC grew its stake in ACRES Commercial Realty by 16.8% during the 2nd quarter. Acadian Asset Management LLC now owns 182,679 shares of the company’s stock worth $3,272,000 after purchasing an additional 26,226 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in ACRES Commercial Realty by 125.1% in the second quarter. Geode Capital Management LLC now owns 137,996 shares of the company’s stock valued at $2,476,000 after acquiring an additional 76,688 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

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.