ACRES Commercial Realty (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 1,100 Shares of Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 1,100 shares of the company’s stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $22.02, for a total transaction of $24,222.00. Following the transaction, the insider owned 753,599 shares of the company’s stock, valued at $16,594,249.98. This trade represents a 0.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own more than 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 Wednesday, January 21st, Eagle Point Credit Management sold 692 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.07, for a total value of $15,272.44.
• On Wednesday, January 14th, Eagle Point Credit Management sold 5,400 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.99, for a total value of $134,946.00.
• On Friday, January 9th, Eagle Point Credit Management sold 3,702 shares of ACRES Commercial Realty stock. The stock was 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 shares were 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 stock was 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 shares were 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 stock was 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.

ACRES Commercial Realty Price Performance

ACR stock opened at $19.96 on Friday. The company has a market capitalization of $145.49 million, a P/E ratio of 20.79 and a beta of 1.19. The company has a fifty day moving average price of $21.59 and a 200-day moving average price of $20.63. The company has a debt-to-equity ratio of 2.73, a quick ratio of 104.99 and a current ratio of 104.99. ACRES Commercial Realty Corp. has a 52-week low of $15.64 and a 52-week high of $24.61.

ACRES Commercial Realty declared that its Board of Directors has initiated a stock buyback program on Wednesday, October 29th that authorizes the company to buyback $7.50 million in shares. This buyback authorization authorizes the company to repurchase up to 5.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On ACRES Commercial Realty

A number of hedge funds have recently added to or reduced their stakes in ACR. 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 buying an additional 739 shares in the last quarter. Bank of America Corp DE lifted its position in shares of 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 acquiring an additional 1,926 shares during the period. Raymond James Financial Inc. boosted its stake in ACRES Commercial Realty by 2.5% during the third quarter. Raymond James Financial Inc. now owns 80,129 shares of the company’s stock worth $1,696,000 after acquiring an additional 1,979 shares in the last quarter. Ritholtz Wealth Management boosted its stake in ACRES Commercial Realty by 5.2% during the fourth quarter. Ritholtz Wealth Management now owns 42,300 shares of the company’s stock worth $903,000 after acquiring an additional 2,101 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in ACRES Commercial Realty by 22.5% in the second quarter. Sei Investments Co. now owns 12,314 shares of the company’s stock worth $221,000 after purchasing an additional 2,263 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.