ACRES Commercial Realty (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 2,954 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 2,954 shares of ACRES Commercial Realty stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $22.07, for a total transaction of $65,194.78. Following the completion of the transaction, the insider directly owned 739,023 shares in the company, valued at approximately $16,310,237.61. The trade was a 0.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large 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 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 transaction of $68,495.60.
• On Monday, March 2nd, Eagle Point Credit Management sold 2,140 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.08, for a total transaction 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 transaction of $32,889.28.
• On Wednesday, February 25th, Eagle Point Credit Management sold 1,800 shares of ACRES Commercial Realty stock. The stock was 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 stock was 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 value of $10,306.80.
• On Tuesday, February 17th, Eagle Point Credit Management sold 273 shares of ACRES Commercial Realty stock. The stock was 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 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 shares were sold at an average price of $22.42, for a total value of $1,098.58.

ACRES Commercial Realty Stock Down 1.1%

NYSE ACR traded down $0.21 during trading on Wednesday, hitting $18.81. The company’s stock had a trading volume of 45,470 shares, compared to its average volume of 17,648. ACRES Commercial Realty Corp. has a fifty-two week low of $16.51 and a fifty-two week high of $24.61. The company has a market cap of $134.12 million, a PE ratio of 1,882.88 and a beta of 1.19. The company has a debt-to-equity ratio of 2.81, a current ratio of 135.18 and a quick ratio of 135.18. The business’s 50 day simple moving average is $19.20 and its 200-day simple moving average is $20.53.

Hedge Funds Weigh In On ACRES Commercial Realty

Hedge funds and other institutional investors have recently bought and sold shares of the business. Oaktree Capital Management LP acquired a new stake in ACRES Commercial Realty during the 3rd quarter valued at approximately $8,282,000. Gratia Capital LLC boosted its holdings in shares of ACRES Commercial Realty by 64.3% in the 2nd 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 last quarter. Bailard Inc. acquired a new stake in shares of ACRES Commercial Realty in the third quarter worth $387,000. Ritholtz Wealth Management increased its stake in shares of ACRES Commercial Realty by 18.6% in the third quarter. Ritholtz Wealth Management now owns 40,199 shares of the company’s stock worth $851,000 after acquiring an additional 6,310 shares during the period. Finally, New York State Common Retirement Fund purchased a new position in shares of ACRES Commercial Realty during the second quarter worth $106,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Zacks Research raised shares of ACRES Commercial Realty to a “hold” rating in a research report on Friday, December 19th. Weiss Ratings lowered shares of ACRES Commercial Realty from a “hold (c)” rating to a “sell (d+)” rating in a report on Wednesday, March 11th. Finally, Wall Street Zen downgraded ACRES Commercial Realty from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $24.50.

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.