Insider Selling: ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Sells $60,177.60 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 2,388 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $25.20, for a total transaction of $60,177.60. Following the completion of the sale, the insider now owns 426,358 shares of the company’s stock, valued at $10,744,221.60. The trade was a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own 10% or more 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 Friday, December 20th, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.20, for a total value of $2,520.00.
• On Wednesday, December 18th, Eagle Point Credit Management sold 6,816 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.77, for a total transaction of $168,832.32.
• On Monday, December 16th, Eagle Point Credit Management sold 4,186 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.13, for a total transaction of $105,194.18.
• On Friday, December 13th, Eagle Point Credit Management sold 130 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $23.06, for a total transaction of $2,997.80.
• On Wednesday, December 11th, Eagle Point Credit Management sold 3,650 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.59, for a total value of $89,753.50.
• 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 value of $31,248.38.
• On Friday, December 6th, Eagle Point Credit Management sold 4,098 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.18, for a total value 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 transaction 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 transaction 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.

ACRES Commercial Realty Price Performance

Shares of ACRES Commercial Realty stock opened at $16.28 on Friday. 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 one year low of $9.41 and a one year high of $17.77. The business’s 50 day simple moving average is $16.36 and its two-hundred day simple moving average is $15.29. The stock has a market capitalization of $125.96 million, a P/E ratio of 19.38 and a beta of 2.06.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Barclays PLC grew its holdings in ACRES Commercial Realty by 147.1% in 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 during the last quarter. Biltmore Family Office LLC purchased a new stake in ACRES Commercial Realty in the 2nd quarter worth approximately $160,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of ACRES Commercial Realty during the third quarter valued at approximately $177,000. Finally, Ritholtz Wealth Management increased its position in ACRES Commercial Realty by 17.0% during 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 during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, JMP Securities raised their price objective on 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.

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.