ACRES Commercial Realty (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 718 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 718 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $25.17, for a total value of $18,072.06. Following the completion of the transaction, the insider directly owned 389,099 shares in the company, valued at approximately $9,793,621.83. This trade represents a 0.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more 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 Thursday, November 13th, Eagle Point Credit Management sold 733 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.15, for a total value of $18,434.95.
• On Wednesday, November 12th, Eagle Point Credit Management sold 2,593 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.80, for a total value of $59,120.40.
• On Tuesday, November 11th, Eagle Point Credit Management sold 1,161 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.20, for a total transaction of $25,774.20.
• On Friday, November 7th, Eagle Point Credit Management sold 140 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.15, for a total transaction of $3,521.00.
• On Thursday, November 6th, Eagle Point Credit Management sold 200 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.15, for a total transaction of $5,030.00.
• On Wednesday, November 5th, Eagle Point Credit Management sold 3,637 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.30, for a total transaction of $81,105.10.
• On Tuesday, November 4th, Eagle Point Credit Management sold 352 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.17, for a total value of $7,803.84.
• On Friday, October 31st, Eagle Point Credit Management sold 2,089 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.19, for a total value of $52,621.91.
• On Wednesday, October 29th, Eagle Point Credit Management sold 772 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.10, for a total value of $17,061.20.
• On Tuesday, October 28th, Eagle Point Credit Management sold 200 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.07, for a total value of $4,414.00.

ACRES Commercial Realty Stock Down 0.9%

ACR stock traded down $0.19 during trading on Thursday, reaching $20.56. 1,508 shares of the company traded hands, compared to its average volume of 33,284. The business has a 50 day simple moving average of $20.69 and a 200 day simple moving average of $19.53. ACRES Commercial Realty Corp. has a 12 month low of $14.94 and a 12 month high of $23.81. The company has a debt-to-equity ratio of 3.01, a quick ratio of 69.53 and a current ratio of 69.53. The company has a market capitalization of $149.79 million, a price-to-earnings ratio of -1,028.79 and a beta of 1.77.

ACRES Commercial Realty announced that its board has authorized a share repurchase plan on Wednesday, October 29th that permits the company to repurchase $7.50 million in outstanding shares. This repurchase authorization permits the company to purchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Wall Street Zen raised shares of ACRES Commercial Realty from a “strong sell” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ACRES Commercial Realty in a report on Monday. Citigroup reiterated an “outperform” rating on shares of ACRES Commercial Realty in a report on Friday, October 31st. JMP Securities set a $24.50 price objective on ACRES Commercial Realty in a research report on Friday, October 31st. Finally, Citizens Jmp upped their target price on ACRES Commercial Realty from $23.50 to $24.50 and gave the company a “market outperform” rating in a research report on Friday, October 31st. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.50.

Hedge Funds Weigh In On ACRES Commercial Realty

Institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets lifted its stake 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. acquired a new position in ACRES Commercial Realty during the second quarter valued at $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in ACRES Commercial Realty during the second quarter valued at $60,000. Bank of America Corp DE boosted its holdings in 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 valued at $66,000 after purchasing an additional 1,926 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in ACRES Commercial Realty during the 2nd quarter worth about $93,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

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.