ACRES Commercial Realty (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 455 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 455 shares of the company’s stock in a transaction on Wednesday, December 24th. The shares were sold at an average price of $22.30, for a total value of $10,146.50. Following the completion of the transaction, the insider directly owned 760,391 shares in the company, valued at approximately $16,956,719.30. This trade represents a 0.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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, December 23rd, Eagle Point Credit Management sold 499 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.26, for a total value of $11,107.74.
• On Monday, December 15th, Eagle Point Credit Management sold 1,372 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.26, for a total transaction of $30,540.72.
• On Friday, December 12th, Eagle Point Credit Management sold 114 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.26, for a total transaction of $2,537.64.
• On Thursday, December 11th, Eagle Point Credit Management sold 1,258 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $23.82, for a total transaction of $29,965.56.
• On Wednesday, December 10th, Eagle Point Credit Management sold 98 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.24, for a total transaction of $2,473.52.
• On Friday, December 5th, Eagle Point Credit Management sold 99 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.22, for a total transaction of $2,496.78.
• On Thursday, December 4th, Eagle Point Credit Management sold 48 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.22, for a total transaction of $1,210.56.
• On Monday, December 1st, Eagle Point Credit Management sold 5,054 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.20, for a total transaction of $127,360.80.
• On Friday, November 28th, Eagle Point Credit Management sold 913 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.19, for a total value of $22,998.47.
• On Monday, November 24th, Eagle Point Credit Management sold 723 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.19, for a total value of $18,212.37.

ACRES Commercial Realty Trading Down 0.8%

ACR opened at $21.47 on Tuesday. ACRES Commercial Realty Corp. has a 52 week low of $15.64 and a 52 week high of $24.61. The company has a quick ratio of 104.99, a current ratio of 104.99 and a debt-to-equity ratio of 2.73. The business has a fifty day simple moving average of $21.65 and a 200-day simple moving average of $20.31. The firm has a market cap of $156.52 million, a P/E ratio of 22.36 and a beta of 1.21.

ACRES Commercial Realty declared that its board has initiated a stock buyback program on Wednesday, October 29th that permits the company to buyback $7.50 million in outstanding shares. This buyback authorization permits the company to reacquire up to 5.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ACR. BNP Paribas Financial Markets grew 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 worth $29,000 after acquiring an additional 739 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of ACRES Commercial Realty during the 2nd quarter worth $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of ACRES Commercial Realty during the second quarter worth $60,000. Bank of America Corp DE grew its stake in shares of ACRES Commercial Realty by 110.4% during 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 in the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in ACRES Commercial Realty in the second quarter valued at $93,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ACR shares. Zacks Research upgraded shares of ACRES Commercial Realty to a “hold” rating in a research note on Friday, December 19th. Wall Street Zen cut shares of ACRES Commercial Realty from a “hold” rating to a “sell” rating in a report on Saturday, December 20th. Citizens Jmp increased their target price on shares of ACRES Commercial Realty from $23.50 to $24.50 and gave the stock a “market outperform” rating in a report on Friday, October 31st. Weiss Ratings reissued a “hold (c)” rating on shares of ACRES Commercial Realty in a research report on Monday, December 22nd. Finally, Citigroup reaffirmed an “outperform” rating on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.50.

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.