Eagle Point Credit Management Sells 1,172 Shares of ACRES Commercial Realty Corp. (NYSE:ACR) Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 1,172 shares of ACRES Commercial Realty stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $22.48, for a total transaction of $26,346.56. Following the completion of the transaction, the insider now owns 859,525 shares of the company’s stock, valued at $19,322,122. This represents a 0.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 Wednesday, March 26th, Eagle Point Credit Management sold 3,384 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.48, for a total value of $76,072.32.
• On Monday, March 24th, Eagle Point Credit Management sold 854 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.45, for a total transaction of $19,172.30.
• 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 transaction of $229,345.96.
• On Thursday, March 13th, Eagle Point Credit Management sold 8,657 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.47, for a total value of $194,522.79.
• On Thursday, January 30th, Eagle Point Credit Management sold 811 shares of ACRES Commercial Realty stock. The shares were 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 value of $164,304.00.

ACRES Commercial Realty Price Performance

Shares of ACR traded down $0.34 during mid-day trading on Tuesday, hitting $21.33. The company’s stock had a trading volume of 37,065 shares, compared to its average volume of 21,607. The company has a current ratio of 73.84, a quick ratio of 73.84 and a debt-to-equity ratio of 3.33. ACRES Commercial Realty Corp. has a 1-year low of $12.33 and a 1-year high of $23.81. The firm has a market capitalization of $159.04 million, a P/E ratio of 25.39 and a beta of 2.12. The firm has a 50-day simple moving average of $20.06 and a 200 day simple moving average of $17.60.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ACR shares. Jones Trading reaffirmed a “hold” rating on shares of ACRES Commercial Realty in a report on Thursday, March 13th. JMP Securities raised their target price on shares of ACRES Commercial Realty to $22.00 and gave the stock a “buy” rating in a research note on Friday, March 7th.

Institutional Trading of ACRES Commercial Realty

Several hedge funds and other institutional investors have recently made changes to their positions in ACR. Barclays PLC grew its holdings in shares of 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 period. Sei Investments Co. purchased a new stake in ACRES Commercial Realty during the fourth quarter worth $162,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in ACRES Commercial Realty in the third quarter valued at $177,000. Jane Street Group LLC purchased a new position in shares of ACRES Commercial Realty in the fourth quarter valued at $213,000. Finally, Biltmore Family Office LLC increased its position in shares of ACRES Commercial Realty by 41.7% in the fourth quarter. Biltmore Family Office LLC now owns 22,104 shares of the company’s stock valued at $357,000 after buying an additional 6,504 shares in the last quarter. Institutional investors and hedge funds 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.