ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 3,650 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 3,650 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $24.59, for a total value of $89,753.50. Following the completion of the sale, the insider now directly owns 446,835 shares in the company, valued at approximately $10,987,672.65. The trade was a 0.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Monday, December 9th, Eagle Point Credit Management sold 1,241 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.18, for a total transaction of $31,248.38.
• On Friday, December 6th, Eagle Point Credit Management sold 4,098 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.18, for a total transaction of $103,187.64.
• On Wednesday, December 4th, Eagle Point Credit Management sold 647 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.11, for a total value of $16,246.17.
• On Monday, December 2nd, Eagle Point Credit Management sold 3,806 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.19, for a total value of $95,873.14.
• On Friday, November 29th, Eagle Point Credit Management sold 1,936 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.15, for a total transaction of $48,690.40.
• On Monday, November 25th, Eagle Point Credit Management sold 4,182 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.14, for a total transaction of $105,135.48.
• On Thursday, November 21st, Eagle Point Credit Management sold 1,674 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.11, for a total transaction of $42,034.14.
• On Monday, November 18th, Eagle Point Credit Management sold 1,923 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.06, for a total value of $48,190.38.
• On Friday, November 15th, Eagle Point Credit Management sold 420 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.04, for a total value of $10,516.80.
• On Monday, November 11th, Eagle Point Credit Management sold 2,625 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.00, for a total value of $65,625.00.

ACRES Commercial Realty Price Performance

Shares of NYSE ACR opened at $17.13 on Friday. The stock’s 50-day moving average is $16.25 and its two-hundred day moving average is $15.04. The company has a debt-to-equity ratio of 3.33, a current ratio of 73.84 and a quick ratio of 73.84. The company has a market cap of $132.53 million, a price-to-earnings ratio of 20.39 and a beta of 2.06. ACRES Commercial Realty Corp. has a 1-year low of $8.84 and a 1-year high of $17.77.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACR. Ritholtz Wealth Management grew its stake in shares of ACRES Commercial Realty by 23.0% during the third quarter. Ritholtz Wealth Management now owns 25,769 shares of the company’s stock worth $404,000 after purchasing an additional 4,825 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in ACRES Commercial Realty during the 3rd quarter worth about $177,000. Biltmore Family Office LLC purchased a new stake in ACRES Commercial Realty during the 2nd quarter worth about $160,000. Finally, Barclays PLC boosted its position in shares of ACRES Commercial Realty by 147.1% during the 3rd quarter. Barclays PLC now owns 3,499 shares of the company’s stock worth $55,000 after acquiring an additional 2,083 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JMP Securities boosted their price target on shares of ACRES Commercial Realty from $16.50 to $17.50 and gave the stock a “market outperform” rating in a research note on Wednesday, September 25th.

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.