ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 8,657 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 8,657 shares of ACRES Commercial Realty stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $22.47, for a total value of $194,522.79. Following the sale, the insider now owns 877,539 shares in the company, valued at $19,718,301.33. This trade represents a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. 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, January 30th, Eagle Point Credit Management sold 811 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.90, for a total value 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 transaction 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 transaction 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.
• On Friday, December 20th, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.20, for a total value of $2,520.00.
• On Wednesday, December 18th, Eagle Point Credit Management sold 6,816 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.77, for a total value of $168,832.32.

ACRES Commercial Realty Stock Performance

NYSE:ACR opened at $23.64 on Wednesday. The business’s fifty day moving average is $19.24 and its 200 day moving average is $17.18. The firm has a market cap of $182.87 million, a price-to-earnings ratio of 28.14 and a beta of 2.12. The company has a debt-to-equity ratio of 3.33, a quick ratio of 73.84 and a current ratio of 73.84. ACRES Commercial Realty Corp. has a 52-week low of $11.59 and a 52-week high of $23.81.

Institutional Investors Weigh In On ACRES Commercial Realty

Several hedge funds and other institutional investors have recently modified their holdings of ACR. Nokomis Capital L.L.C. grew its stake in ACRES Commercial Realty by 1.1% during the fourth quarter. Nokomis Capital L.L.C. now owns 264,597 shares of the company’s stock valued at $4,273,000 after acquiring an additional 2,889 shares in the last quarter. Gratia Capital LLC grew its position in shares of ACRES Commercial Realty by 1.3% during the 4th quarter. Gratia Capital LLC now owns 101,314 shares of the company’s stock valued at $1,636,000 after purchasing an additional 1,314 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in shares of ACRES Commercial Realty by 2.4% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 61,759 shares of the company’s stock valued at $997,000 after purchasing an additional 1,458 shares in the last quarter. Raymond James Financial Inc. bought a new stake in ACRES Commercial Realty during the fourth quarter valued at $829,000. Finally, Northern Trust Corp grew its position in ACRES Commercial Realty by 32.5% during the fourth quarter. Northern Trust Corp now owns 39,671 shares of the company’s stock worth $641,000 after buying an additional 9,738 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ACR. Jones Trading reaffirmed a “hold” rating on shares of ACRES Commercial Realty in a report on Thursday, March 13th. JMP Securities upped their price target on shares of ACRES Commercial Realty to $22.00 and gave the company a “buy” rating in a research note on Friday, March 7th.

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.