Insider Selling: ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Sells $229,345.96 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 9,937 shares of the firm’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $23.08, for a total transaction of $229,345.96. Following the completion of the transaction, the insider now directly owns 866,466 shares of the company’s stock, valued at approximately $19,998,035.28. This trade represents a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own more than 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 Thursday, March 13th, Eagle Point Credit Management sold 8,657 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.47, for a total transaction of $194,522.79.
• On Thursday, January 30th, Eagle Point Credit Management sold 811 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.90, for a total transaction of $20,193.90.
• On Wednesday, January 22nd, Eagle Point Credit Management sold 7,335 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.40, for a total transaction of $164,304.00.
• On Monday, December 30th, Eagle Point Credit Management sold 200 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.20, for a total value of $5,040.00.
• On Thursday, December 26th, Eagle Point Credit Management sold 420 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.20, for a total value of $10,584.00.
• On Monday, December 23rd, Eagle Point Credit Management sold 2,388 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.20, for a total value of $60,177.60.

ACRES Commercial Realty Trading Down 7.0 %

Shares of NYSE ACR opened at $21.75 on Monday. The business’s 50 day moving average price is $19.57 and its 200-day moving average price is $17.34. ACRES Commercial Realty Corp. has a fifty-two week low of $12.30 and a fifty-two week high of $23.81. The company has a debt-to-equity ratio of 3.33, a quick ratio of 73.84 and a current ratio of 73.84. The company has a market cap of $162.13 million, a price-to-earnings ratio of 25.89 and a beta of 2.12.

Institutional Trading of ACRES Commercial Realty

Several institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new position in shares of ACRES Commercial Realty in the fourth quarter worth about $829,000. Bank of New York Mellon Corp bought a new position in ACRES Commercial Realty in the 4th quarter worth about $412,000. Jane Street Group LLC purchased a new position in shares of ACRES Commercial Realty during the fourth quarter worth approximately $213,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of ACRES Commercial Realty during the third quarter valued at approximately $177,000. Finally, Sei Investments Co. purchased a new stake in shares of ACRES Commercial Realty in the fourth quarter valued at approximately $162,000. 40.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ACR has been the subject of several recent analyst reports. JMP Securities lifted their price objective on shares of ACRES Commercial Realty to $22.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Jones Trading reaffirmed a “hold” rating on shares of ACRES Commercial Realty in a research note on Thursday, March 13th.

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.