ACRES Commercial Realty (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 5,200 Shares of Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 5,200 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $22.11, for a total value of $114,972.00. Following the completion of the transaction, the insider owned 746,233 shares of the company’s stock, valued at $16,499,211.63. This represents a 0.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Major 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 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 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 value of $1,098.58.
• On Friday, January 30th, Eagle Point Credit Management sold 4,780 shares of ACRES Commercial Realty stock. The stock was 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 stock was 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 shares were 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 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 shares were 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 shares were sold at an average price of $24.89, for a total transaction of $92,142.78.
• On Tuesday, January 13th, Eagle Point Credit Management sold 13,979 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.93, for a total transaction of $348,496.47.

ACRES Commercial Realty Trading Down 2.0%

ACR opened at $18.88 on Thursday. The company has a fifty day moving average price of $21.33 and a two-hundred day moving average price of $20.74. 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 cap of $137.60 million, a P/E ratio of 19.66 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 initiated a stock repurchase program on Wednesday, October 29th that permits the company to repurchase $7.50 million in outstanding shares. This repurchase authorization permits the company to buy up to 5.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have issued reports on ACR shares. Citigroup reiterated an “outperform” rating on shares of ACRES Commercial Realty in a research note on Friday, October 31st. Wall Street Zen upgraded shares of ACRES Commercial Realty from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ACRES Commercial Realty in a research report on Monday, December 29th. JMP Securities set a $24.50 target price on ACRES Commercial Realty in a research note on Friday, October 31st. Finally, Zacks Research raised ACRES Commercial Realty to a “hold” rating in a report on Friday, December 19th. Three 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 target price of $24.50.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets increased its stake in ACRES Commercial Realty by 120.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company’s stock worth $29,000 after acquiring an additional 739 shares during the last quarter. Bank of America Corp DE raised its stake in ACRES Commercial Realty by 110.4% in the second quarter. Bank of America Corp DE now owns 3,671 shares of the company’s stock valued at $66,000 after purchasing an additional 1,926 shares in the last quarter. Raymond James Financial Inc. grew its stake in ACRES Commercial Realty by 2.5% in the 3rd quarter. Raymond James Financial Inc. now owns 80,129 shares of the company’s stock worth $1,696,000 after buying an additional 1,979 shares in the last quarter. Ritholtz Wealth Management raised its position in shares of ACRES Commercial Realty by 5.2% during the 4th quarter. Ritholtz Wealth Management now owns 42,300 shares of the company’s stock valued at $903,000 after buying an additional 2,101 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of ACRES Commercial Realty by 22.5% during the 2nd quarter. Sei Investments Co. now owns 12,314 shares of the company’s stock worth $221,000 after acquiring an additional 2,263 shares during the last quarter. Hedge funds and other 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.