ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 553 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 553 shares of the company’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $22.30, for a total transaction of $12,331.90. Following the transaction, the insider now owns 858,572 shares of the company’s stock, valued at approximately $19,146,155.60. The trade was a 0.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Eagle Point Credit Management also recently made the following trade(s):

• On Tuesday, June 17th, Eagle Point Credit Management sold 11,071 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.39, for a total transaction of $247,879.69.
• On Friday, June 13th, Eagle Point Credit Management sold 400 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.25, for a total transaction of $8,900.00.
• On Friday, March 28th, Eagle Point Credit Management sold 1,172 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.48, for a total value of $26,346.56.
• On Wednesday, March 26th, Eagle Point Credit Management sold 3,384 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.48, for a total value of $76,072.32.
• On Monday, March 24th, Eagle Point Credit Management sold 854 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.45, for a total value of $19,172.30.
• On Wednesday, March 19th, Eagle Point Credit Management sold 9,937 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $23.08, for a total value of $229,345.96.

ACRES Commercial Realty Trading Down 0.6%

Shares of ACRES Commercial Realty stock opened at $17.68 on Wednesday. The company has a 50-day moving average of $18.22 and a two-hundred day moving average of $18.59. ACRES Commercial Realty Corp. has a 12-month low of $12.69 and a 12-month high of $23.81. The company has a current ratio of 88.11, a quick ratio of 88.11 and a debt-to-equity ratio of 2.89. The stock has a market cap of $130.65 million, a PE ratio of 60.96 and a beta of 1.75.

ACRES Commercial Realty (NYSE:ACR) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($1.15). The firm had revenue of $5.60 million for the quarter, compared to analyst estimates of $19.89 million. ACRES Commercial Realty had a return on equity of 2.95% and a net margin of 22.98%. On average, research analysts anticipate that ACRES Commercial Realty Corp. will post 0.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on ACR. JMP Securities increased their price objective on ACRES Commercial Realty to $22.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Jones Trading reaffirmed a “hold” rating on shares of ACRES Commercial Realty in a research note on Thursday, March 13th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ACR. Cubist Systematic Strategies LLC purchased a new stake in ACRES Commercial Realty in the 1st quarter valued at approximately $133,000. Sei Investments Co. acquired a new position in shares of ACRES Commercial Realty in the fourth quarter worth $162,000. Jane Street Group LLC acquired a new position in shares of ACRES Commercial Realty in the fourth quarter worth $213,000. Biltmore Family Office LLC lifted its position in shares of ACRES Commercial Realty by 41.7% in the fourth quarter. Biltmore Family Office LLC now owns 22,104 shares of the company’s stock valued at $357,000 after acquiring an additional 6,504 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of ACRES Commercial Realty during the fourth quarter valued at $412,000. Institutional investors and hedge funds 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.