ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 3,384 Shares of Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 3,384 shares of the company’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $22.48, for a total transaction of $76,072.32. Following the transaction, the insider now directly owns 861,523 shares in the company, valued at $19,367,037.04. The trade was a 0.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Monday, March 24th, Eagle Point Credit Management sold 854 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.45, for a total value of $19,172.30.
• On Wednesday, March 19th, Eagle Point Credit Management sold 9,937 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $23.08, for a total value of $229,345.96.
• On Thursday, March 13th, Eagle Point Credit Management sold 8,657 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.47, for a total value of $194,522.79.
• On Thursday, January 30th, Eagle Point Credit Management sold 811 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.90, for a total value of $20,193.90.
• On Wednesday, January 22nd, Eagle Point Credit Management sold 7,335 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.40, for a total transaction of $164,304.00.
• On Monday, December 30th, Eagle Point Credit Management sold 200 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.20, for a total transaction of $5,040.00.

ACRES Commercial Realty Stock Down 1.5 %

Shares of NYSE:ACR opened at $21.12 on Friday. The firm has a market cap of $157.44 million, a PE ratio of 25.14 and a beta of 2.12. The company has a fifty day simple moving average of $19.98 and a 200 day simple moving average of $17.53. The company has a current ratio of 73.84, a quick ratio of 73.84 and a debt-to-equity ratio of 3.33. ACRES Commercial Realty Corp. has a 12-month low of $12.33 and a 12-month high of $23.81.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ACR. JMP Securities lifted their price target on shares of ACRES Commercial Realty to $22.00 and gave the company a “buy” rating in a report on Friday, March 7th. Jones Trading restated a “hold” rating on shares of ACRES Commercial Realty in a report on Thursday, March 13th.

Institutional Trading of ACRES Commercial Realty

Several hedge funds have recently made changes to their positions in ACR. Nokomis Capital L.L.C. boosted its stake in ACRES Commercial Realty by 1.1% during the 4th quarter. Nokomis Capital L.L.C. now owns 264,597 shares of the company’s stock valued at $4,273,000 after purchasing an additional 2,889 shares during the period. Gratia Capital LLC raised its holdings in ACRES Commercial Realty by 1.3% during the fourth quarter. Gratia Capital LLC now owns 101,314 shares of the company’s stock worth $1,636,000 after purchasing an additional 1,314 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in ACRES Commercial Realty by 2.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 61,759 shares of the company’s stock worth $997,000 after purchasing an additional 1,458 shares during the period. Raymond James Financial Inc. acquired a new position in shares of ACRES Commercial Realty during the 4th quarter valued at $829,000. Finally, Northern Trust Corp lifted its holdings in shares of ACRES Commercial Realty by 32.5% in the fourth quarter. Northern Trust Corp now owns 39,671 shares of the company’s stock valued at $641,000 after buying an additional 9,738 shares during the period. 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.