Insider Selling: ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells $145,756.97 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 5,981 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $24.37, for a total transaction of $145,756.97. Following the transaction, the insider owned 339,325 shares in the company, valued at $8,269,350.25. This represents a 1.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 Friday, June 12th, Eagle Point Credit Management sold 849 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.47, for a total transaction of $21,624.03.
• On Thursday, June 11th, Eagle Point Credit Management sold 215 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.47, for a total value of $5,476.05.
• On Wednesday, June 10th, Eagle Point Credit Management sold 1,527 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.56, for a total transaction of $34,449.12.
• On Wednesday, June 3rd, Eagle Point Credit Management sold 422 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.55, for a total value of $9,516.10.
• On Monday, June 1st, Eagle Point Credit Management sold 5,806 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.41, for a total transaction of $147,530.46.
• On Wednesday, May 20th, Eagle Point Credit Management sold 404 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.50, for a total value of $9,090.00.
• On Monday, March 30th, Eagle Point Credit Management sold 1,095 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.12, for a total transaction of $24,221.40.

ACRES Commercial Realty Stock Down 1.3%

ACR opened at $16.40 on Friday. The company has a debt-to-equity ratio of 3.36, a quick ratio of 164.62 and a current ratio of 164.62. The business has a 50 day moving average price of $19.69 and a 200 day moving average price of $19.98. The firm has a market cap of $116.93 million, a P/E ratio of 25.23 and a beta of 1.07. ACRES Commercial Realty Corp. has a twelve month low of $15.61 and a twelve month high of $24.61.

ACRES Commercial Realty (NYSE:ACR) last announced its earnings results on Thursday, April 30th. The company reported $0.02 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.02. ACRES Commercial Realty had a net margin of 37.20% and a return on equity of 5.61%. The business had revenue of $17.82 million for the quarter, compared to analyst estimates of $20.55 million. Research analysts forecast that ACRES Commercial Realty Corp. will post 0.15 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on ACR shares. Weiss Ratings upgraded ACRES Commercial Realty from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Wall Street Zen raised shares of ACRES Commercial Realty from a “strong sell” rating to a “sell” rating in a report on Saturday, April 18th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.50.

Institutional Investors Weigh In On ACRES Commercial Realty

A number of large investors have recently added to or reduced their stakes in ACR. BNP Paribas Financial Markets increased its stake in shares of ACRES Commercial Realty by 120.2% during the third 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 period. JPMorgan Chase & Co. bought a new position in ACRES Commercial Realty in the second quarter valued at approximately $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of ACRES Commercial Realty during the 2nd quarter worth $60,000. MetLife Investment Management LLC acquired a new position in ACRES Commercial Realty during the fourth quarter worth about $76,000. Finally, Bank of America Corp DE increased its position in 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 worth $66,000 after purchasing an additional 1,926 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

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.