ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 6,816 Shares of Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 6,816 shares of ACRES Commercial Realty stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $24.77, for a total value of $168,832.32. Following the sale, the insider now directly owns 434,574 shares of the company’s stock, valued at $10,764,397.98. This trade represents a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 16th, Eagle Point Credit Management sold 4,186 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.13, for a total value of $105,194.18.
• On Friday, December 13th, Eagle Point Credit Management sold 130 shares of ACRES Commercial Realty stock. The shares were 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 stock was sold at an average price of $24.59, for a total transaction of $89,753.50.
• 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 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 transaction of $103,187.64.
• 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 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 stock was 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 shares were 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 shares were sold at an average price of $25.11, for a total transaction of $42,034.14.

ACRES Commercial Realty Stock Performance

NYSE ACR opened at $15.31 on Friday. The firm has a market cap of $118.45 million, a P/E ratio of 18.23 and a beta of 2.06. ACRES Commercial Realty Corp. has a 52-week low of $9.41 and a 52-week high of $17.77. The business’s 50-day moving average price is $16.31 and its 200 day moving average price is $15.14. The company has a quick ratio of 73.84, a current ratio of 73.84 and a debt-to-equity ratio of 3.33.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ACR. Barclays PLC raised its stake in shares of 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 during the last quarter. Biltmore Family Office LLC purchased a new position in ACRES Commercial Realty during the 2nd quarter worth $160,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of ACRES Commercial Realty in the 3rd quarter worth $177,000. Finally, Ritholtz Wealth Management boosted its holdings in shares of ACRES Commercial Realty by 17.0% in the second quarter. Ritholtz Wealth Management now owns 20,944 shares of the company’s stock valued at $267,000 after acquiring an additional 3,043 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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