Eagle Point Credit Management Sells 5,400 Shares of ACRES Commercial Realty (NYSE:ACR) Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 5,400 shares of the business’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $24.99, for a total value of $134,946.00. Following the completion of the sale, the insider owned 358,430 shares of the company’s stock, valued at $8,957,165.70. The trade was a 1.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 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 Friday, January 9th, Eagle Point Credit Management sold 3,702 shares of ACRES Commercial Realty stock. The stock was 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 shares were 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 shares were sold at an average price of $22.26, for a total transaction of $11,107.74.
• On Monday, December 15th, Eagle Point Credit Management sold 1,372 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.26, for a total value of $30,540.72.
• 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 Thursday, December 11th, Eagle Point Credit Management sold 1,258 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $23.82, for a total value of $29,965.56.
• 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 transaction of $2,473.52.
• On Friday, December 5th, Eagle Point Credit Management sold 99 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.22, for a total transaction of $2,496.78.

ACRES Commercial Realty Trading Down 1.3%

NYSE:ACR opened at $20.33 on Friday. The firm has a market capitalization of $148.17 million, a P/E ratio of 21.17 and a beta of 1.19. ACRES Commercial Realty Corp. has a 52 week low of $15.64 and a 52 week high of $24.61. The company has a quick ratio of 104.99, a current ratio of 104.99 and a debt-to-equity ratio of 2.73. The company has a fifty day moving average of $21.72 and a 200 day moving average of $20.57.

ACRES Commercial Realty announced that its board has authorized a share buyback program on Wednesday, October 29th that permits the company to buyback $7.50 million in shares. This buyback authorization permits the company to purchase up to 5.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On ACRES Commercial Realty

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACR. Oaktree Capital Management LP purchased a new stake in shares of ACRES Commercial Realty in the 3rd quarter worth about $8,282,000. Geode Capital Management LLC boosted its stake in ACRES Commercial Realty by 125.1% during the second quarter. Geode Capital Management LLC now owns 137,996 shares of the company’s stock worth $2,476,000 after acquiring an additional 76,688 shares in the last quarter. Gratia Capital LLC grew its holdings in ACRES Commercial Realty by 64.3% in the second quarter. Gratia Capital LLC now owns 125,994 shares of the company’s stock worth $2,260,000 after purchasing an additional 49,312 shares during the period. Raymond James Financial Inc. increased its stake in shares of ACRES Commercial Realty by 60.6% during the second quarter. Raymond James Financial Inc. now owns 78,150 shares of the company’s stock valued at $1,402,000 after purchasing an additional 29,503 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in shares of ACRES Commercial Realty by 16.8% during the second quarter. Acadian Asset Management LLC now owns 182,679 shares of the company’s stock valued at $3,272,000 after purchasing an additional 26,226 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. JMP Securities set a $24.50 price target on ACRES Commercial Realty in a research report on Friday, October 31st. Zacks Research upgraded ACRES Commercial Realty to a “hold” rating in a report on Friday, December 19th. 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. Citigroup reissued an “outperform” rating on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Finally, Wall Street Zen raised shares of ACRES Commercial Realty from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.