Insider Selling: ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells $30,252.42 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 1,389 shares of the firm’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $21.78, for a total transaction of $30,252.42. Following the completion of the transaction, the insider directly owned 719,097 shares of the company’s stock, valued at approximately $15,661,932.66. This trade represents a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% 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, July 29th, Eagle Point Credit Management sold 2,212 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $21.80, for a total transaction of $48,221.60.
• On Tuesday, July 28th, Eagle Point Credit Management sold 206 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $21.79, for a total transaction of $4,488.74.
• On Wednesday, June 24th, Eagle Point Credit Management sold 2,076 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.50, for a total transaction of $46,710.00.
• On Monday, June 15th, Eagle Point Credit Management sold 5,981 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.37, for a total transaction of $145,756.97.
• On Friday, June 12th, Eagle Point Credit Management sold 849 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.47, for a total value of $21,624.03.
• 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 stock was 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.

ACRES Commercial Realty Price Performance

Shares of ACRES Commercial Realty stock opened at $17.55 on Friday. The stock has a market cap of $125.10 million, a price-to-earnings ratio of -15.67 and a beta of 1.09. 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 stock has a 50 day moving average price of $18.04 and a 200-day moving average price of $19.03. ACRES Commercial Realty Corp. has a one year low of $15.61 and a one year high of $24.61.

ACRES Commercial Realty (NYSE:ACR) last released its quarterly earnings results on Wednesday, July 29th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.92). The company had revenue of $20.98 million for the quarter, compared to analysts’ expectations of $20.32 million. ACRES Commercial Realty had a net margin of 22.62% and a return on equity of 2.47%. Equities analysts expect that ACRES Commercial Realty Corp. will post 0.15 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ACR. Weiss Ratings upgraded shares of ACRES Commercial Realty from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Zacks Research lowered shares of ACRES Commercial Realty from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. Finally, Wall Street Zen downgraded shares of ACRES Commercial Realty from a “hold” rating to a “sell” rating in a research note on Sunday, July 5th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $24.50.

Institutional Trading of ACRES Commercial Realty

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets increased its stake in ACRES Commercial Realty by 120.2% in the third quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company’s stock worth $29,000 after purchasing an additional 739 shares during the period. JPMorgan Chase & Co. purchased a new stake in shares of ACRES Commercial Realty during the second quarter valued at $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of ACRES Commercial Realty during the second quarter valued at $60,000. Bank of America Corp DE grew its holdings in shares of ACRES Commercial Realty by 110.4% in the second quarter. Bank of America Corp DE now owns 3,671 shares of the company’s stock worth $66,000 after purchasing an additional 1,926 shares during the last quarter. Finally, MetLife Investment Management LLC bought a new position in shares of ACRES Commercial Realty in the fourth quarter worth about $76,000. Hedge funds and other institutional investors 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.