ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 3,806 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 3,806 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $25.19, for a total transaction of $95,873.14. Following the completion of the sale, the insider now directly owns 461,869 shares in the company, valued at $11,634,480.11. This represents a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own at least 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 Friday, November 29th, Eagle Point Credit Management sold 1,936 shares of ACRES Commercial Realty stock. The shares were 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 stock was sold at an average price of $25.14, for a total value of $105,135.48.
• On Thursday, November 21st, Eagle Point Credit Management sold 1,674 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.11, for a total value of $42,034.14.
• On Monday, November 18th, Eagle Point Credit Management sold 1,923 shares of ACRES Commercial Realty stock. The shares were 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 stock was sold at an average price of $25.04, for a total transaction 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 transaction of $65,625.00.
• On Thursday, November 7th, Eagle Point Credit Management sold 1,312 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.97, for a total transaction of $32,760.64.
• On Monday, November 4th, Eagle Point Credit Management sold 129 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.94, for a total value of $3,217.26.
• On Wednesday, October 30th, Eagle Point Credit Management sold 2,394 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.91, for a total value of $59,634.54.
• On Wednesday, October 23rd, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.89, for a total transaction of $2,489.00.

ACRES Commercial Realty Stock Up 2.5 %

ACR traded up $0.43 on Tuesday, reaching $17.70. The company’s stock had a trading volume of 15,385 shares, compared to its average volume of 21,351. The stock has a market cap of $137.00 million, a price-to-earnings ratio of 21.07 and a beta of 2.06. The business’s 50 day moving average is $15.94 and its 200 day moving average is $14.80. The company has a debt-to-equity ratio of 3.33, a current ratio of 73.84 and a quick ratio of 73.84. ACRES Commercial Realty Corp. has a 1 year low of $7.61 and a 1 year high of $17.77.

Institutional Trading of ACRES Commercial Realty

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Biltmore Family Office LLC acquired a new position in ACRES Commercial Realty during the 2nd quarter valued at about $160,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of ACRES Commercial Realty during the 3rd quarter worth about $177,000. Ritholtz Wealth Management lifted its stake in shares of ACRES Commercial Realty by 23.0% in the 3rd quarter. Ritholtz Wealth Management now owns 25,769 shares of the company’s stock worth $404,000 after acquiring an additional 4,825 shares during the period. Finally, Barclays PLC boosted its holdings in shares of ACRES Commercial Realty by 147.1% in the third quarter. Barclays PLC now owns 3,499 shares of the company’s stock valued at $55,000 after acquiring an additional 2,083 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.