ACRES Commercial Realty (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 409 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 409 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $25.20, for a total transaction of $10,306.80. Following the sale, the insider owned 355,148 shares of the company’s stock, valued at $8,949,729.60. This trade represents a 0.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own 10% or more 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 Thursday, February 19th, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.23, for a total transaction of $2,523.00.
• On Tuesday, February 17th, Eagle Point Credit Management sold 273 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.20, for a total value of $6,060.60.
• On Wednesday, February 4th, Eagle Point Credit Management sold 97 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.12, for a total value of $2,145.64.
• On Tuesday, February 3rd, Eagle Point Credit Management sold 49 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.42, for a total transaction of $1,098.58.
• On Monday, February 2nd, Eagle Point Credit Management sold 5,200 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.11, for a total transaction of $114,972.00.
• On Friday, January 30th, Eagle Point Credit Management sold 4,780 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $23.89, for a total transaction of $114,194.20.
• 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 value of $1,171.30.
• On Wednesday, January 28th, Eagle Point Credit Management sold 201 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.10, for a total value of $4,442.10.
• On Friday, January 23rd, Eagle Point Credit Management sold 1,100 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.02, for a total value of $24,222.00.
• 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.

ACRES Commercial Realty Price Performance

Shares of ACR stock traded up $0.06 on Friday, reaching $18.69. The company’s stock had a trading volume of 5,235 shares, compared to its average volume of 23,121. The stock’s fifty day simple moving average is $20.46 and its 200-day simple moving average is $20.70. ACRES Commercial Realty Corp. has a 1 year low of $16.51 and a 1 year high of $24.61. The company has a market capitalization of $136.25 million, a price-to-earnings ratio of 19.47 and a beta of 1.19. The company has a current ratio of 104.99, a quick ratio of 104.99 and a debt-to-equity ratio of 2.73.

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On ACRES Commercial Realty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Eagle Point Credit Management LLC acquired a new stake in ACRES Commercial Realty in the 4th quarter valued at about $25,118,000. Oaktree Capital Management LP acquired a new stake in shares of ACRES Commercial Realty in the third quarter valued at approximately $8,282,000. Vanguard Group Inc. lifted its position in ACRES Commercial Realty by 3.1% during the third quarter. Vanguard Group Inc. now owns 383,696 shares of the company’s stock worth $8,119,000 after buying an additional 11,465 shares in the last quarter. Acadian Asset Management LLC lifted its position in ACRES Commercial Realty by 16.8% during the second quarter. Acadian Asset Management LLC now owns 182,679 shares of the company’s stock worth $3,272,000 after buying an additional 26,226 shares in the last quarter. Finally, Geode Capital Management LLC boosted 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 worth $2,476,000 after buying an additional 76,688 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other 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.