Eagle Point Credit Management Sells 18,464 Shares of ACRES Commercial Realty Corp. (NYSE:ACR) Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 18,464 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $25.00, for a total value of $461,600.00. Following the completion of the transaction, the insider now owns 659,267 shares in the company, valued at $16,481,675. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 10% 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, June 25th, Eagle Point Credit Management sold 7,005 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.01, for a total value of $175,195.05.

ACRES Commercial Realty Stock Down 0.1 %

Shares of NYSE:ACR opened at $12.76 on Friday. The firm has a market capitalization of $101.57 million, a PE ratio of 18.23 and a beta of 2.02. The company has a debt-to-equity ratio of 3.67, a quick ratio of 90.61 and a current ratio of 90.61. ACRES Commercial Realty Corp. has a 52-week low of $6.62 and a 52-week high of $14.35. The firm has a fifty day moving average of $13.13 and a 200 day moving average of $11.77.

ACRES Commercial Realty (NYSE:ACR) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.25). The firm had revenue of $18.77 million during the quarter, compared to analysts’ expectations of $13.00 million. ACRES Commercial Realty had a return on equity of 7.76% and a net margin of 28.51%. During the same quarter in the previous year, the company posted $0.42 earnings per share. As a group, research analysts anticipate that ACRES Commercial Realty Corp. will post 1.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ACR. Janney Montgomery Scott LLC bought a new stake in shares of ACRES Commercial Realty in the 1st quarter worth approximately $172,000. O Shaughnessy Asset Management LLC purchased a new position in ACRES Commercial Realty in the 1st quarter worth $580,000. Acadian Asset Management LLC lifted its stake in ACRES Commercial Realty by 19.2% in the first quarter. Acadian Asset Management LLC now owns 105,420 shares of the company’s stock worth $1,480,000 after purchasing an additional 16,986 shares during the last quarter. Finally, Nokomis Capital L.L.C. purchased a new stake in ACRES Commercial Realty during the first quarter valued at about $3,729,000. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, JMP Securities lifted their target price on shares of ACRES Commercial Realty from $14.00 to $15.50 and gave the company a “market outperform” rating in a research report on Tuesday, April 30th.

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.