Insider Selling: ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells 5,400 Shares of Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 5,400 shares of the stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $24.99, for a total value of $134,946.00. Following the sale, the insider directly owned 358,430 shares in the company, valued at $8,957,165.70. This represents a 1.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large 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, January 9th, Eagle Point Credit Management sold 3,702 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.89, for a total value of $92,142.78.
• On Tuesday, January 13th, Eagle Point Credit Management sold 13,979 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.93, for a total value of $348,496.47.
• On Wednesday, December 31st, Eagle Point Credit Management sold 5,000 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.41, for a total value of $112,050.00.
• On Wednesday, December 24th, Eagle Point Credit Management sold 455 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.30, for a total value of $10,146.50.
• On Tuesday, December 23rd, Eagle Point Credit Management sold 499 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.26, for a total transaction of $11,107.74.
• On Monday, December 15th, Eagle Point Credit Management sold 1,372 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.26, for a total transaction of $30,540.72.
• On Friday, December 12th, Eagle Point Credit Management sold 114 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.26, for a total transaction of $2,537.64.
• On Thursday, December 11th, Eagle Point Credit Management sold 1,258 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $23.82, for a total transaction of $29,965.56.
• On Wednesday, December 10th, Eagle Point Credit Management sold 98 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.24, for a total transaction of $2,473.52.
• On Friday, December 5th, Eagle Point Credit Management sold 99 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.22, for a total transaction of $2,496.78.

ACRES Commercial Realty Price Performance

Shares of NYSE:ACR traded down $0.27 during trading on Friday, reaching $20.33. 12,203 shares of the company’s stock traded hands, compared to its average volume of 29,137. The company has a quick ratio of 104.99, a current ratio of 104.99 and a debt-to-equity ratio of 2.73. ACRES Commercial Realty Corp. has a fifty-two week low of $15.64 and a fifty-two week high of $24.61. The company has a 50-day simple moving average of $21.72 and a 200-day simple moving average of $20.56. The firm has a market cap of $148.17 million, a PE ratio of 21.17 and a beta of 1.19.

ACRES Commercial Realty announced that its Board of Directors has approved a stock repurchase plan on Wednesday, October 29th that allows the company to repurchase $7.50 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its holdings in shares of ACRES Commercial Realty by 120.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company’s stock worth $29,000 after purchasing an additional 739 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in ACRES Commercial Realty during the second quarter worth approximately $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in ACRES Commercial Realty during the second quarter worth $60,000. Bank of America Corp DE boosted its stake in ACRES Commercial Realty by 110.4% during the second quarter. Bank of America Corp DE now owns 3,671 shares of the company’s stock worth $66,000 after buying an additional 1,926 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in ACRES Commercial Realty in the 2nd quarter valued at $93,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ACR has been the topic of a number of recent analyst reports. Wall Street Zen upgraded ACRES Commercial Realty from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Weiss Ratings restated a “hold (c)” rating on shares of ACRES Commercial Realty in a research report on Monday, December 29th. JMP Securities set a $24.50 target price on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Citizens Jmp boosted their target price on shares of ACRES Commercial Realty from $23.50 to $24.50 and gave the stock a “market outperform” rating in a research note on Friday, October 31st. Finally, Zacks Research upgraded shares of ACRES Commercial Realty to a “hold” rating in a research report on Friday, December 19th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.50.

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.