ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells $21,624.03 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 849 shares of ACRES Commercial Realty stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $25.47, for a total value of $21,624.03. Following the completion of the sale, the insider directly owned 343,036 shares in the company, valued at approximately $8,737,126.92. The trade was a 0.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% 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 Thursday, June 11th, Eagle Point Credit Management sold 215 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.47, for a total value of $5,476.05.
• On Wednesday, June 10th, Eagle Point Credit Management sold 1,527 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.56, for a total value of $34,449.12.
• On Wednesday, June 3rd, Eagle Point Credit Management sold 422 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.55, for a total value of $9,516.10.
• On Monday, June 1st, Eagle Point Credit Management sold 5,806 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.41, for a total value of $147,530.46.
• On Wednesday, May 20th, Eagle Point Credit Management sold 404 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.50, for a total value of $9,090.00.
• On Monday, March 30th, Eagle Point Credit Management sold 1,095 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.12, for a total value of $24,221.40.
• On Monday, March 16th, Eagle Point Credit Management sold 2,954 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.07, for a total value of $65,194.78.

ACRES Commercial Realty Stock Performance

NYSE ACR opened at $18.06 on Monday. The company has a market cap of $128.77 million, a P/E ratio of 27.79 and a beta of 1.07. The company has a debt-to-equity ratio of 3.36, a quick ratio of 164.62 and a current ratio of 164.62. The business’s 50 day moving average price is $19.96 and its 200-day moving average price is $20.14. ACRES Commercial Realty Corp. has a fifty-two week low of $17.06 and a fifty-two week high of $24.61.

ACRES Commercial Realty (NYSE:ACR) last released its earnings results on Thursday, April 30th. The company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02. The firm had revenue of $17.82 million for the quarter, compared to the consensus estimate of $20.55 million. ACRES Commercial Realty had a return on equity of 5.61% and a net margin of 37.20%. Sell-side analysts predict that ACRES Commercial Realty Corp. will post 0.15 earnings per share for the current year.

Hedge Funds Weigh In On ACRES Commercial Realty

Large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its holdings in ACRES Commercial Realty by 120.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company’s stock valued at $29,000 after acquiring an additional 739 shares during the period. JPMorgan Chase & Co. purchased a new position in ACRES Commercial Realty during the 2nd quarter valued at $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in ACRES Commercial Realty during the 2nd quarter valued at $60,000. Bank of America Corp DE boosted its holdings in ACRES Commercial Realty by 110.4% during the 2nd quarter. Bank of America Corp DE now owns 3,671 shares of the company’s stock valued at $66,000 after acquiring an additional 1,926 shares during the period. Finally, MetLife Investment Management LLC purchased a new position in ACRES Commercial Realty during the 4th quarter valued at $76,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ACR shares. Weiss Ratings raised ACRES Commercial Realty from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Wall Street Zen raised ACRES Commercial Realty from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 18th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, ACRES Commercial Realty presently has an average rating of “Moderate Buy” and an average price target of $24.50.

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.