Eagle Point Credit Management Sells 854 Shares of ACRES Commercial Realty Corp. (NYSE:ACR) Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 854 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $22.45, for a total value of $19,172.30. Following the sale, the insider now directly owns 865,612 shares in the company, valued at approximately $19,432,989.40. This represents a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• 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 transaction of $194,522.79.
• On Thursday, January 30th, Eagle Point Credit Management sold 811 shares of ACRES Commercial Realty stock. The stock was 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 shares were 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 value of $5,040.00.
• On Thursday, December 26th, Eagle Point Credit Management sold 420 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.20, for a total transaction of $10,584.00.

ACRES Commercial Realty Stock Performance

ACRES Commercial Realty stock traded down $0.66 on Wednesday, reaching $21.24. 58,743 shares of the stock were exchanged, compared to its average volume of 21,193. ACRES Commercial Realty Corp. has a twelve month low of $12.33 and a twelve month high of $23.81. The stock has a market cap of $158.37 million, a PE ratio of 25.29 and a beta of 2.12. The firm has a fifty day moving average price of $19.76 and a two-hundred day moving average price of $17.43. The company has a current ratio of 73.84, a quick ratio of 73.84 and a debt-to-equity ratio of 3.33.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC grew its position in ACRES Commercial Realty by 147.1% during the third quarter. Barclays PLC now owns 3,499 shares of the company’s stock worth $55,000 after buying an additional 2,083 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of ACRES Commercial Realty in the 3rd quarter worth approximately $177,000. Northern Trust Corp grew its holdings in shares of ACRES Commercial Realty by 32.5% during the 4th quarter. Northern Trust Corp now owns 39,671 shares of the company’s stock worth $641,000 after purchasing an additional 9,738 shares in the last quarter. Nokomis Capital L.L.C. increased its position in shares of ACRES Commercial Realty by 1.1% during the fourth 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. Finally, Raymond James Financial Inc. bought a new position in ACRES Commercial Realty in the fourth quarter worth $829,000. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ACR. Jones Trading reiterated a “hold” rating on shares of ACRES Commercial Realty in a report on Thursday, March 13th. JMP Securities raised their price objective on ACRES Commercial Realty to $22.00 and gave the company a “buy” rating in a research note on Friday, March 7th.

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.