Insider Selling: ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Sells 2,220 Shares of Stock

ACRES Commercial Realty Corp. (NYSE:ACRGet Free Report) major shareholder Eagle Point Credit Management sold 2,220 shares of ACRES Commercial Realty stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $24.67, for a total transaction of $54,767.40. Following the transaction, the insider now directly owns 652,519 shares in the company, valued at $16,097,643.73. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

  • On Monday, July 8th, Eagle Point Credit Management sold 1,210 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.80, for a total transaction of $30,008.00.
  • On Thursday, June 27th, Eagle Point Credit Management sold 18,464 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.00, for a total transaction of $461,600.00.
  • On Tuesday, June 25th, Eagle Point Credit Management sold 7,005 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.01, for a total value of $175,195.05.

ACRES Commercial Realty Stock Up 2.9 %

ACR opened at $13.53 on Thursday. ACRES Commercial Realty Corp. has a 12 month low of $6.62 and a 12 month high of $14.35. The company has a market cap of $107.70 million, a PE ratio of 19.33 and a beta of 2.04. The company has a current ratio of 90.61, a quick ratio of 90.61 and a debt-to-equity ratio of 3.67. The company has a 50 day moving average of $13.06 and a 200 day moving average of $11.98.

ACRES Commercial Realty (NYSE:ACRGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.25). ACRES Commercial Realty had a return on equity of 7.76% and a net margin of 28.51%. The company had revenue of $18.77 million during the quarter, compared to the consensus estimate of $13.00 million. During the same period in the previous year, the business earned $0.42 earnings per share. On average, sell-side analysts expect that ACRES Commercial Realty Corp. will post 1.16 EPS for the current year.

Analyst Ratings Changes

Separately, JMP Securities lifted their price target on shares of ACRES Commercial Realty from $14.00 to $15.50 and gave the stock a “market outperform” rating in a report on Tuesday, April 30th.

Get Our Latest Report on ACRES Commercial Realty

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ACR. Nokomis Capital L.L.C. bought a new position in shares of ACRES Commercial Realty in the first quarter valued at approximately $3,729,000. Acadian Asset Management LLC lifted its stake in ACRES Commercial Realty by 19.2% in the 1st quarter. Acadian Asset Management LLC now owns 105,420 shares of the company’s stock worth $1,480,000 after purchasing an additional 16,986 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new position in ACRES Commercial Realty in the 1st quarter valued at $580,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of ACRES Commercial Realty during the 1st quarter valued at $172,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

About ACRES Commercial Realty

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for ACRES Commercial Realty (NYSE:ACR)

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