ACRES Commercial Realty (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 5,400 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 5,400 shares of the stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $24.99, for a total transaction of $134,946.00. Following the completion of the sale, the insider owned 358,430 shares of the company’s stock, valued at approximately $8,957,165.70. This trade represents a 1.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own at least 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 Friday, January 9th, Eagle Point Credit Management sold 3,702 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.89, for a total transaction of $92,142.78.
• On Tuesday, January 13th, Eagle Point Credit Management sold 13,979 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.93, for a total value of $348,496.47.
• On Wednesday, December 31st, Eagle Point Credit Management sold 5,000 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.41, for a total value of $112,050.00.
• On Wednesday, December 24th, Eagle Point Credit Management sold 455 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.30, for a total value of $10,146.50.
• On Tuesday, December 23rd, Eagle Point Credit Management sold 499 shares of ACRES Commercial Realty stock. The shares were 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 stock was sold at an average price of $22.26, for a total value 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 value 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 value 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.

ACRES Commercial Realty Stock Performance

Shares of NYSE ACR traded down $0.27 during midday trading on Friday, hitting $20.33. The company’s stock had a trading volume of 12,203 shares, compared to its average volume of 29,137. The firm has a market capitalization of $148.17 million, a price-to-earnings ratio of 21.17 and a beta of 1.19. The company has a current ratio of 104.99, a quick ratio of 104.99 and a debt-to-equity ratio of 2.73. The stock has a fifty day moving average price of $21.72 and a 200 day moving average price of $20.56. ACRES Commercial Realty Corp. has a one year low of $15.64 and a one year high of $24.61.

ACRES Commercial Realty declared that its board has approved a share buyback plan on Wednesday, October 29th that permits the company to repurchase $7.50 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 5.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Citizens Jmp lifted their price objective on ACRES Commercial Realty from $23.50 to $24.50 and gave the stock a “market outperform” rating in a research report on Friday, October 31st. JMP Securities set a $24.50 price objective on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Zacks Research raised shares of ACRES Commercial Realty to a “hold” rating in a research report on Friday, December 19th. Citigroup reaffirmed an “outperform” rating on shares of ACRES Commercial Realty in a research note on Friday, October 31st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ACRES Commercial Realty in a research report on Monday, December 29th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.50.

Hedge Funds Weigh In On ACRES Commercial Realty

A number of large investors have recently added to or reduced their stakes in ACR. BNP Paribas Financial Markets increased its holdings in shares of ACRES Commercial Realty by 120.2% in the third quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company’s stock valued at $29,000 after purchasing an additional 739 shares during the period. JPMorgan Chase & Co. purchased a new stake in ACRES Commercial Realty in the second quarter valued at approximately $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in ACRES Commercial Realty in the 2nd quarter worth approximately $60,000. Bank of America Corp DE raised its position 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 worth $66,000 after buying an additional 1,926 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in ACRES Commercial Realty during the 2nd quarter worth approximately $93,000. 40.03% of the stock is currently owned by institutional investors.

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.