Insider Selling: ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Sells 1,241 Shares of Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 1,241 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.18, for a total value of $31,248.38. Following the sale, the insider now owns 453,215 shares of the company’s stock, valued at $11,411,953.70. This represents a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 6th, Eagle Point Credit Management sold 4,098 shares of ACRES Commercial Realty stock. The shares were 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 value 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 value 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 value 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 stock was 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 value 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 value of $65,625.00.
• On Thursday, November 7th, Eagle Point Credit Management sold 1,312 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.97, for a total transaction of $32,760.64.

ACRES Commercial Realty Stock Performance

Shares of NYSE ACR opened at $17.24 on Wednesday. The firm’s 50-day moving average price is $16.16 and its two-hundred day moving average price is $14.98. The stock has a market capitalization of $133.39 million, a P/E ratio of 20.52 and a beta of 2.06. The company has a quick ratio of 73.84, a current ratio of 73.84 and a debt-to-equity ratio of 3.33. ACRES Commercial Realty Corp. has a 52-week low of $8.12 and a 52-week high of $17.77.

Institutional Investors Weigh In On ACRES Commercial Realty

A number of hedge funds have recently made changes to their positions in ACR. Ritholtz Wealth Management raised 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 valued at $267,000 after buying an additional 3,043 shares during the last quarter. Biltmore Family Office LLC bought a new stake in ACRES Commercial Realty during the second quarter worth approximately $160,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in ACRES Commercial Realty during the third quarter worth approximately $177,000. Finally, Barclays PLC raised its holdings 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 purchasing an additional 2,083 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, JMP Securities raised their target price on shares of ACRES Commercial Realty from $16.50 to $17.50 and gave the stock a “market outperform” rating in a report 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.