Eagle Point Credit Management Sells 1,095 Shares of ACRES Commercial Realty (NYSE:ACR) Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 1,095 shares of the company’s stock in a transaction on Monday, March 30th. The stock was sold at an average price of $22.12, for a total value of $24,221.40. Following the sale, the insider owned 737,928 shares of the company’s stock, valued at approximately $16,322,967.36. This represents a 0.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Monday, March 16th, Eagle Point Credit Management sold 2,954 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.07, for a total value of $65,194.78.
• On Tuesday, March 3rd, Eagle Point Credit Management sold 3,142 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $21.80, for a total value of $68,495.60.
• On Monday, March 2nd, Eagle Point Credit Management sold 2,140 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.08, for a total value of $51,531.20.
• On Thursday, February 26th, Eagle Point Credit Management sold 1,301 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.28, for a total value of $32,889.28.
• On Wednesday, February 25th, Eagle Point Credit Management sold 1,800 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.25, for a total value of $45,450.00.
• On Tuesday, February 24th, Eagle Point Credit Management sold 600 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.25, for a total value of $15,150.00.
• On Thursday, February 19th, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.23, for a total value of $2,523.00.
• On Wednesday, February 18th, Eagle Point Credit Management sold 409 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.20, for a total transaction of $10,306.80.
• 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 transaction of $6,060.60.
• On Wednesday, February 4th, Eagle Point Credit Management sold 97 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.12, for a total transaction of $2,145.64.

ACRES Commercial Realty Stock Up 1.1%

Shares of NYSE:ACR traded up $0.22 during trading on Thursday, reaching $19.40. The stock had a trading volume of 4,310 shares, compared to its average volume of 22,302. The firm’s 50-day simple moving average is $18.95 and its 200 day simple moving average is $20.39. The company has a current ratio of 135.18, a quick ratio of 135.18 and a debt-to-equity ratio of 2.81. ACRES Commercial Realty Corp. has a one year low of $16.51 and a one year high of $24.61. The company has a market capitalization of $138.34 million, a P/E ratio of 1,941.94 and a beta of 1.11.

Analyst Ratings Changes

ACR has been the subject of several analyst reports. Weiss Ratings upgraded ACRES Commercial Realty from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Wall Street Zen downgraded ACRES Commercial Realty from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Finally, Zacks Research raised ACRES Commercial Realty to a “hold” rating in a research report on Friday, December 19th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, ACRES Commercial Realty has a consensus rating of “Moderate Buy” and a consensus target price of $24.50.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Eagle Point Credit Management LLC acquired a new stake in shares of ACRES Commercial Realty during the fourth quarter worth $25,118,000. Oaktree Capital Management LP purchased a new position in ACRES Commercial Realty in the 3rd quarter worth $8,282,000. Vanguard Group Inc. raised its stake in ACRES Commercial Realty by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 383,696 shares of the company’s stock worth $8,119,000 after acquiring an additional 11,465 shares during the last quarter. Geode Capital Management LLC lifted its position in ACRES Commercial Realty by 125.1% during the 2nd quarter. Geode Capital Management LLC now owns 137,996 shares of the company’s stock worth $2,476,000 after acquiring an additional 76,688 shares during the period. Finally, Gratia Capital LLC lifted its position in ACRES Commercial Realty by 64.3% during the 2nd quarter. Gratia Capital LLC now owns 125,994 shares of the company’s stock worth $2,260,000 after acquiring an additional 49,312 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

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.