Insider Selling: ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells 4,780 Shares of Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 4,780 shares of the company’s stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $23.89, for a total transaction of $114,194.20. Following the completion of the transaction, the insider owned 355,562 shares in the company, valued at approximately $8,494,376.18. The trade was a 1.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 Thursday, January 29th, Eagle Point Credit Management sold 53 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.10, for a total transaction of $1,171.30.
• On Wednesday, January 28th, Eagle Point Credit Management sold 201 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.10, for a total transaction of $4,442.10.
• On Friday, January 23rd, Eagle Point Credit Management sold 1,100 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.02, for a total transaction of $24,222.00.
• On Wednesday, January 21st, Eagle Point Credit Management sold 692 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.07, for a total transaction 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 transaction 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 transaction 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 stock was sold at an average price of $22.26, for a total value of $11,107.74.

ACRES Commercial Realty Stock Down 1.5%

NYSE:ACR traded down $0.29 during trading hours on Friday, reaching $19.23. The company’s stock had a trading volume of 35,935 shares, compared to its average volume of 21,459. ACRES Commercial Realty Corp. has a 12 month low of $16.51 and a 12 month high of $24.61. The stock has a 50 day moving average price of $21.47 and a two-hundred day moving average price of $20.67. The company has a debt-to-equity ratio of 2.73, a quick ratio of 104.99 and a current ratio of 104.99. The company has a market capitalization of $140.16 million, a P/E ratio of 61.00 and a beta of 1.19.

ACRES Commercial Realty announced that its Board of Directors has authorized a share buyback program on Wednesday, October 29th that allows the company to buyback $7.50 million in outstanding shares. This buyback authorization allows the company to reacquire up to 5.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ACR. Wall Street Zen raised ACRES Commercial Realty from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Citigroup restated an “outperform” rating on shares of ACRES Commercial Realty in a research note on Friday, October 31st. JMP Securities set a $24.50 target price on ACRES Commercial Realty in a report on Friday, October 31st. Zacks Research upgraded shares of ACRES Commercial Realty to a “hold” rating in a report on Friday, December 19th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of ACRES Commercial Realty in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, ACRES Commercial Realty currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.50.

Institutional Investors Weigh In On ACRES Commercial Realty

A number of hedge funds and other institutional investors have recently modified their holdings of ACR. Oaktree Capital Management LP bought a new stake in ACRES Commercial Realty during the third quarter worth approximately $8,282,000. Geode Capital Management LLC increased its stake in 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 acquiring an additional 76,688 shares during the period. Gratia Capital LLC increased its stake in ACRES Commercial Realty by 64.3% in the second quarter. Gratia Capital LLC now owns 125,994 shares of the company’s stock valued at $2,260,000 after acquiring an additional 49,312 shares during the period. Raymond James Financial Inc. increased its holdings in shares of ACRES Commercial Realty by 60.6% during the second quarter. Raymond James Financial Inc. now owns 78,150 shares of the company’s stock worth $1,402,000 after buying an additional 29,503 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of ACRES Commercial Realty by 16.8% in the second quarter. Acadian Asset Management LLC now owns 182,679 shares of the company’s stock worth $3,272,000 after acquiring an additional 26,226 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

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.