ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 4,098 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 4,098 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $25.18, for a total value of $103,187.64. Following the transaction, the insider now directly owns 454,456 shares in the company, valued at $11,443,202.08. This trade represents a 0.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 Monday, December 9th, Eagle Point Credit Management sold 1,241 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.18, for a total transaction of $31,248.38.
• On Wednesday, December 4th, Eagle Point Credit Management sold 647 shares of ACRES Commercial Realty stock. The stock was 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 shares were 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 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.

ACRES Commercial Realty Stock Down 1.0 %

ACR opened at $17.24 on Wednesday. The stock has a fifty day moving average of $16.16 and a 200-day moving average of $14.98. The company has a market capitalization of $133.39 million, a P/E ratio of 20.52 and a beta of 2.06. ACRES Commercial Realty Corp. has a fifty-two week low of $8.12 and a fifty-two week high of $17.77. The company has a debt-to-equity ratio of 3.33, a quick ratio of 73.84 and a current ratio of 73.84.

Analysts Set New Price Targets

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

Institutional Trading of ACRES Commercial Realty

Institutional investors have recently bought and sold shares of the business. Ritholtz Wealth Management increased its holdings in shares of ACRES Commercial Realty by 17.0% during the second quarter. Ritholtz Wealth Management now owns 20,944 shares of the company’s stock worth $267,000 after purchasing an additional 3,043 shares during the period. Biltmore Family Office LLC bought a new position in ACRES Commercial Realty during the 2nd quarter worth $160,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in ACRES Commercial Realty in the 3rd quarter valued at $177,000. Finally, Barclays PLC lifted its position in shares of ACRES Commercial Realty by 147.1% during the 3rd quarter. Barclays PLC now owns 3,499 shares of the company’s stock valued at $55,000 after acquiring an additional 2,083 shares during the period. Institutional investors own 40.03% of the company’s stock.

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.