Eagle Point Credit Management Sells 4,780 Shares of ACRES Commercial Realty (NYSE:ACR) Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 4,780 shares of the company’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $23.89, for a total transaction of $114,194.20. Following the completion of the transaction, the insider owned 355,562 shares of the company’s stock, valued at $8,494,376.18. This trade represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Thursday, January 29th, Eagle Point Credit Management sold 53 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.10, for a total value of $1,171.30.
• On Wednesday, January 28th, Eagle Point Credit Management sold 201 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.10, for a total value of $4,442.10.
• On Friday, January 23rd, Eagle Point Credit Management sold 1,100 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.02, for a total value of $24,222.00.
• On Wednesday, January 21st, Eagle Point Credit Management sold 692 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.07, for a total value of $15,272.44.
• On Wednesday, January 14th, Eagle Point Credit Management sold 5,400 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.99, for a total value of $134,946.00.
• On Friday, January 9th, Eagle Point Credit Management sold 3,702 shares of ACRES Commercial Realty stock. The shares were 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 stock was sold at an average price of $24.93, for a total transaction of $348,496.47.
• On Wednesday, December 31st, Eagle Point Credit Management sold 5,000 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.41, for a total transaction of $112,050.00.
• On Wednesday, December 24th, Eagle Point Credit Management sold 455 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.30, for a total transaction of $10,146.50.
• 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 transaction of $11,107.74.

ACRES Commercial Realty Trading Down 1.5%

NYSE ACR traded down $0.29 during trading on Friday, hitting $19.23. 35,935 shares of the company’s stock traded hands, compared to its average volume of 21,459. The stock has a fifty day moving average of $21.47 and a two-hundred day moving average of $20.67. ACRES Commercial Realty Corp. has a 12-month low of $16.51 and a 12-month high of $24.61. The firm has a market cap of $140.16 million, a P/E ratio of 61.00 and a beta of 1.19. The company has a debt-to-equity ratio of 2.73, a current ratio of 104.99 and a quick ratio of 104.99.

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

Institutional Investors Weigh In On ACRES Commercial Realty

Several hedge funds have recently bought and sold shares of ACR. BNP Paribas Financial Markets increased its stake in shares of ACRES Commercial Realty by 120.2% during 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 in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of ACRES Commercial Realty in the 2nd quarter worth approximately $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in ACRES Commercial Realty during the 2nd quarter valued at approximately $60,000. Bank of America Corp DE raised its stake in 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 valued at $66,000 after buying an additional 1,926 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in ACRES Commercial Realty in the second quarter worth $93,000. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ACR. Weiss Ratings restated a “hold (c)” rating on shares of ACRES Commercial Realty in a report on Monday, December 29th. Zacks Research raised ACRES Commercial Realty to a “hold” rating in a research note on Friday, December 19th. Wall Street Zen raised ACRES Commercial Realty from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Citizens Jmp lifted their price target on shares of ACRES Commercial Realty from $23.50 to $24.50 and gave the company a “market outperform” rating in a report on Friday, October 31st. Finally, Citigroup restated an “outperform” rating on shares of ACRES Commercial Realty in a report on Friday, October 31st. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.