Eagle Point Credit Management Sells 1,390 Shares of ACRES Commercial Realty Corp. (NYSE:ACR) Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 1,390 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $24.87, for a total transaction of $34,569.30. Following the transaction, the insider now owns 602,105 shares of the company’s stock, valued at approximately $14,974,351.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more 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 Friday, August 23rd, Eagle Point Credit Management sold 5,128 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.57, for a total value of $125,994.96.
• On Monday, August 19th, Eagle Point Credit Management sold 3,119 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.87, for a total value of $77,569.53.
• On Thursday, August 15th, Eagle Point Credit Management sold 4,706 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.87, for a total value of $117,038.22.
• On Tuesday, August 13th, Eagle Point Credit Management sold 1,309 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.85, for a total transaction of $32,528.65.
• On Friday, August 9th, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.85, for a total transaction of $2,485.00.
• On Wednesday, August 7th, Eagle Point Credit Management sold 4,664 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.71, for a total transaction of $115,247.44.
• On Friday, August 2nd, Eagle Point Credit Management sold 2,635 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.88, for a total value of $65,558.80.
• On Wednesday, July 31st, Eagle Point Credit Management sold 15,096 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.86, for a total value of $375,286.56.
• On Monday, July 29th, Eagle Point Credit Management sold 376 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.75, for a total value of $9,306.00.
• On Tuesday, July 23rd, Eagle Point Credit Management sold 386 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.75, for a total transaction of $9,553.50.

ACRES Commercial Realty Stock Performance

ACR stock traded up $0.01 during trading on Friday, hitting $15.74. The company had a trading volume of 10,272 shares, compared to its average volume of 22,758. The firm has a 50-day moving average price of $14.09 and a 200-day moving average price of $13.03. ACRES Commercial Realty Corp. has a 1-year low of $6.62 and a 1-year high of $16.13. The company has a quick ratio of 100.49, a current ratio of 100.49 and a debt-to-equity ratio of 3.56. The firm has a market cap of $125.27 million, a PE ratio of 22.49 and a beta of 2.04.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On ACRES Commercial Realty

Large investors have recently bought and sold shares of the company. Biltmore Family Office LLC purchased a new stake in shares of ACRES Commercial Realty in the second quarter valued at about $160,000. Janney Montgomery Scott LLC acquired a new stake in ACRES Commercial Realty in the first quarter valued at about $172,000. Ritholtz Wealth Management boosted its holdings in ACRES Commercial Realty by 17.0% in the 2nd quarter. Ritholtz Wealth Management now owns 20,944 shares of the company’s stock valued at $267,000 after purchasing an additional 3,043 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new position in ACRES Commercial Realty during the 1st quarter worth approximately $580,000. Finally, Acadian Asset Management LLC raised its stake in shares of ACRES Commercial Realty by 19.2% during the 1st quarter. Acadian Asset Management LLC now owns 105,420 shares of the company’s stock worth $1,480,000 after buying an additional 16,986 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

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.