Insider Selling: ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells $18,212.37 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 723 shares of the firm’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $25.19, for a total value of $18,212.37. Following the completion of the sale, the insider owned 388,376 shares of the company’s stock, valued at approximately $9,783,191.44. This represents a 0.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Monday, November 17th, Eagle Point Credit Management sold 718 shares of ACRES Commercial Realty stock. The shares were 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 stock was 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 stock was sold at an average price of $22.80, for a total transaction 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 value of $5,030.00.
• On Wednesday, November 5th, Eagle Point Credit Management sold 3,637 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.30, for a total value 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.

ACRES Commercial Realty Stock Performance

ACR stock opened at $21.21 on Friday. ACRES Commercial Realty Corp. has a twelve month low of $14.94 and a twelve month high of $23.81. The firm has a market cap of $154.54 million, a price-to-earnings ratio of -1,059.97 and a beta of 1.77. The business’s fifty day simple moving average is $20.68 and its two-hundred day simple moving average is $19.63. The company has a quick ratio of 69.53, a current ratio of 69.53 and a debt-to-equity ratio of 3.01.

ACRES Commercial Realty announced that its board has initiated a stock repurchase plan on Wednesday, October 29th that authorizes the company to repurchase $7.50 million in shares. This repurchase authorization authorizes the company to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ACR. Citigroup reaffirmed an “outperform” rating on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Wall Street Zen upgraded ACRES Commercial Realty from a “strong sell” rating to a “hold” rating in a report on Saturday, November 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of ACRES Commercial Realty in a report on Monday. Citizens Jmp raised their price target on ACRES Commercial Realty from $23.50 to $24.50 and gave the company a “market outperform” rating in a research note on Friday, October 31st. Finally, JMP Securities set a $24.50 price objective on ACRES Commercial Realty in a report on Friday, October 31st. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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. Biltmore Family Office LLC grew its position in shares of ACRES Commercial Realty by 6.6% in the 1st quarter. Biltmore Family Office LLC now owns 23,552 shares of the company’s stock worth $510,000 after buying an additional 1,448 shares during the last quarter. Informed Momentum Co LLC acquired a new stake in shares of ACRES Commercial Realty in the 1st quarter worth $697,000. Cubist Systematic Strategies LLC acquired a new position in ACRES Commercial Realty during the 1st quarter valued at about $133,000. Goldman Sachs Group Inc. acquired a new position in ACRES Commercial Realty during the 1st quarter valued at about $488,000. Finally, Jane Street Group LLC boosted its holdings in ACRES Commercial Realty by 190.8% in the first quarter. Jane Street Group LLC now owns 38,434 shares of the company’s stock worth $833,000 after acquiring an additional 25,216 shares in the last quarter. 40.03% of the stock is currently owned by 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.