ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells $15,272.44 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 692 shares of the company’s stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $22.07, for a total transaction of $15,272.44. Following the transaction, the insider owned 754,699 shares of the company’s stock, valued at $16,656,206.93. This represents a 0.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more 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 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 transaction of $24,222.00.
• 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 transaction of $134,946.00.
• 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 shares were 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 stock was sold at an average price of $22.41, for a total value 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 value 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 value of $11,107.74.
• On Monday, December 15th, Eagle Point Credit Management sold 1,372 shares of ACRES Commercial Realty stock. The stock was 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.

ACRES Commercial Realty Trading Down 0.9%

Shares of ACR opened at $19.96 on Monday. ACRES Commercial Realty Corp. has a 52-week low of $15.64 and a 52-week high of $24.61. The stock has a market cap of $145.49 million, a PE ratio of 20.79 and a beta of 1.19. The firm’s fifty day moving average is $21.59 and its two-hundred day moving average is $20.67. The company has a quick ratio of 104.99, a current ratio of 104.99 and a debt-to-equity ratio of 2.73.

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

Institutional Trading of ACRES Commercial Realty

A number of hedge funds and other institutional investors have recently modified their holdings of ACR. Cubist Systematic Strategies LLC acquired a new position in ACRES Commercial Realty in the first quarter valued at about $133,000. Goldman Sachs Group Inc. purchased a new stake in shares of ACRES Commercial Realty in the 1st quarter valued at approximately $488,000. Jane Street Group LLC raised its stake in shares of ACRES Commercial Realty by 190.8% in the 1st quarter. Jane Street Group LLC now owns 38,434 shares of the company’s stock valued at $833,000 after acquiring an additional 25,216 shares during the period. Ritholtz Wealth Management lifted its holdings in shares of ACRES Commercial Realty by 12.0% in the 2nd quarter. Ritholtz Wealth Management now owns 33,889 shares of the company’s stock worth $608,000 after acquiring an additional 3,618 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of ACRES Commercial Realty by 16.8% during the 2nd quarter. Acadian Asset Management LLC now owns 182,679 shares of the company’s stock worth $3,272,000 after purchasing an additional 26,226 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Citizens Jmp raised their target price on shares of ACRES Commercial Realty from $23.50 to $24.50 and gave the stock a “market outperform” rating in a research note on Friday, October 31st. Wall Street Zen raised ACRES Commercial Realty from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Zacks Research upgraded ACRES Commercial Realty to a “hold” rating in a research report on Friday, December 19th. JMP Securities set a $24.50 target price on ACRES Commercial Realty in a report on Friday, October 31st. Finally, Citigroup reiterated 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 stock. According to MarketBeat.com, ACRES Commercial Realty has a consensus rating of “Moderate Buy” and an average price target of $24.50.

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.