ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells $29,965.56 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 1,258 shares of ACRES Commercial Realty stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $23.82, for a total value of $29,965.56. Following the transaction, the insider owned 381,511 shares of the company’s stock, valued at $9,087,592.02. This represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more 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, December 12th, Eagle Point Credit Management sold 114 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.26, for a total value of $2,537.64.
• On Wednesday, December 10th, Eagle Point Credit Management sold 98 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.24, for a total value of $2,473.52.
• On Friday, December 5th, Eagle Point Credit Management sold 99 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.22, for a total value of $2,496.78.
• On Thursday, December 4th, Eagle Point Credit Management sold 48 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.22, for a total value of $1,210.56.
• On Monday, December 1st, Eagle Point Credit Management sold 5,054 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.20, for a total value 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 transaction 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 transaction of $18,212.37.
• On Monday, November 17th, Eagle Point Credit Management sold 718 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.17, for a total transaction of $18,072.06.
• On Thursday, November 13th, Eagle Point Credit Management sold 733 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.15, for a total transaction 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 transaction of $59,120.40.

ACRES Commercial Realty Trading Up 0.3%

ACR stock traded up $0.08 during midday trading on Friday, hitting $23.78. The stock had a trading volume of 36,994 shares, compared to its average volume of 35,076. The company’s 50-day moving average price is $21.00 and its 200 day moving average price is $19.89. The company has a debt-to-equity ratio of 2.73, a current ratio of 104.99 and a quick ratio of 104.99. The firm has a market cap of $173.34 million, a PE ratio of 24.77 and a beta of 1.21. ACRES Commercial Realty Corp. has a 12-month low of $14.94 and a 12-month high of $24.17.

ACRES Commercial Realty declared that its board has approved a stock buyback plan on Wednesday, October 29th that allows the company to repurchase $7.50 million in shares. This repurchase authorization allows the company to purchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Institutional Trading of ACRES Commercial Realty

Institutional investors and hedge funds have recently bought and sold shares of the business. Cubist Systematic Strategies LLC acquired a new position in ACRES Commercial Realty during the first quarter valued at approximately $133,000. Goldman Sachs Group Inc. purchased a new position in shares of ACRES Commercial Realty in the 1st quarter valued at $488,000. Jane Street Group LLC lifted its holdings in shares of ACRES Commercial Realty by 190.8% during the 1st quarter. Jane Street Group LLC now owns 38,434 shares of the company’s stock valued at $833,000 after acquiring an additional 25,216 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of ACRES Commercial Realty by 1.2% during the 1st quarter. Acadian Asset Management LLC now owns 156,453 shares of the company’s stock valued at $3,386,000 after acquiring an additional 1,851 shares in the last quarter. Finally, Ritholtz Wealth Management boosted its position in ACRES Commercial Realty by 12.0% during the 2nd quarter. Ritholtz Wealth Management now owns 33,889 shares of the company’s stock worth $608,000 after purchasing an additional 3,618 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

ACR has been the topic of a number of research analyst reports. Citizens Jmp raised their price target on ACRES Commercial Realty from $23.50 to $24.50 and gave the stock a “market outperform” rating in a research note on Friday, October 31st. Citigroup reiterated an “outperform” rating on shares of ACRES Commercial Realty 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. 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. Finally, JMP Securities set a $24.50 price target on shares of ACRES Commercial Realty in a research note on Friday, October 31st. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, ACRES Commercial Realty currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.50.

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.