ACRES Commercial Realty (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 5,981 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 5,981 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $24.37, for a total value of $145,756.97. Following the completion of the transaction, the insider owned 339,325 shares in the company, valued at $8,269,350.25. This represents a 1.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% 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 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 value 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 value of $34,449.12.
• 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 value 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 value 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 value of $9,090.00.
• On Monday, March 30th, Eagle Point Credit Management sold 1,095 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.12, for a total transaction of $24,221.40.

ACRES Commercial Realty Stock Performance

Shares of ACR stock opened at $16.47 on Thursday. The business’s 50-day moving average price is $19.80 and its 200-day moving average price is $20.04. The company has a current ratio of 164.62, a quick ratio of 164.62 and a debt-to-equity ratio of 3.36. The firm has a market capitalization of $117.40 million, a price-to-earnings ratio of 25.33 and a beta of 1.07. ACRES Commercial Realty Corp. has a 12 month low of $15.61 and a 12 month high of $24.61.

ACRES Commercial Realty (NYSE:ACR) last issued its earnings results on Thursday, April 30th. The company reported $0.02 earnings per share for the quarter, hitting analysts’ consensus estimates 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 return on equity of 5.61% and a net margin of 37.20%. Equities research analysts forecast that ACRES Commercial Realty Corp. will post 0.15 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Weiss Ratings upgraded ACRES Commercial Realty from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Wall Street Zen raised shares of ACRES Commercial Realty from a “strong sell” rating to a “sell” rating in a report on Saturday, April 18th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $24.50.

Institutional Trading of ACRES Commercial Realty

A number of large investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC purchased a new stake in shares of ACRES Commercial Realty in the 1st quarter worth $133,000. Goldman Sachs Group Inc. purchased a new stake in shares of ACRES Commercial Realty during the 1st quarter worth $488,000. Jane Street Group LLC lifted its stake in shares of 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 purchasing an additional 25,216 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of ACRES Commercial Realty by 125.1% during the second quarter. Geode Capital Management LLC now owns 137,996 shares of the company’s stock valued at $2,476,000 after buying an additional 76,688 shares during the last quarter. Finally, JPMorgan Chase & Co. purchased a new stake in shares of ACRES Commercial Realty during the second quarter valued at about $52,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

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.