ACRES Commercial Realty (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 908 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 908 shares of the firm’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $21.80, for a total value of $19,794.40. Following the completion of the sale, the insider directly owned 715,771 shares in the company, valued at $15,603,807.80. The trade was a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 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, July 31st, Eagle Point Credit Management sold 84 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $21.80, for a total value of $1,831.20.
• On Wednesday, July 29th, Eagle Point Credit Management sold 2,212 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $21.80, for a total value of $48,221.60.
• On Tuesday, July 28th, Eagle Point Credit Management sold 206 shares of ACRES Commercial Realty stock. The stock was 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 stock was 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 shares were 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 shares were 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 shares were 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 stock was 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 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.

ACRES Commercial Realty Stock Down 9.9%

Shares of ACRES Commercial Realty stock opened at $15.78 on Tuesday. The company has a current ratio of 164.62, a quick ratio of 164.62 and a debt-to-equity ratio of 3.36. ACRES Commercial Realty Corp. has a 12-month low of $15.61 and a 12-month high of $24.61. The company has a market cap of $112.48 million, a P/E ratio of -14.08 and a beta of 1.08. The company’s fifty day simple moving average is $17.97 and its two-hundred day simple moving average is $18.99.

ACRES Commercial Realty (NYSE:ACR) last posted its earnings results on Wednesday, July 29th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.92). ACRES Commercial Realty had a return on equity of 2.47% and a net margin of 22.62%.The company had revenue of $20.98 million during the quarter, compared to analysts’ expectations of $20.32 million. Research analysts anticipate that ACRES Commercial Realty Corp. will post 0.15 EPS for the current year.

Analyst Ratings Changes

ACR has been the topic of a number of research analyst reports. Zacks Research downgraded ACRES Commercial Realty from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Wall Street Zen cut ACRES Commercial Realty from a “hold” rating to a “sell” rating in a research note on Sunday, July 5th. Finally, Weiss Ratings raised ACRES Commercial Realty from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $24.50.

Institutional Investors Weigh In On ACRES Commercial Realty

Several hedge funds have recently bought and sold shares of ACR. BNP Paribas Financial Markets increased its holdings in shares of ACRES Commercial Realty by 120.2% during the third 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 in the last quarter. Barclays PLC grew its position in ACRES Commercial Realty by 10.8% during the 4th quarter. Barclays PLC now owns 9,610 shares of the company’s stock valued at $205,000 after purchasing an additional 939 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in ACRES Commercial Realty by 2.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 46,278 shares of the company’s stock valued at $894,000 after purchasing an additional 1,019 shares in the last quarter. Bank of America Corp DE increased its stake in ACRES Commercial Realty by 110.4% during the 2nd 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 in the last quarter. Finally, Raymond James Financial Inc. raised its holdings in ACRES Commercial Realty by 2.5% in the third quarter. Raymond James Financial Inc. now owns 80,129 shares of the company’s stock worth $1,696,000 after buying an additional 1,979 shares during the last quarter. Institutional investors 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.