Insider Selling: ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells $24,222.00 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 1,100 shares of the stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $22.02, for a total value of $24,222.00. Following the transaction, the insider directly owned 753,599 shares in the company, valued at approximately $16,594,249.98. The trade was a 0.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% 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 Wednesday, January 21st, Eagle Point Credit Management sold 692 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.07, for a total value of $15,272.44.
• 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 transaction of $112,050.00.
• On Wednesday, December 24th, Eagle Point Credit Management sold 455 shares of ACRES Commercial Realty stock. The stock was 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 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%

ACR opened at $19.96 on Monday. The business has a fifty day moving average price of $21.59 and a 200 day moving average price of $20.67. The company has a debt-to-equity ratio of 2.73, a current ratio of 104.99 and a quick ratio of 104.99. ACRES Commercial Realty Corp. has a 12 month low of $15.64 and a 12 month high of $24.61. The stock has a market capitalization of $145.49 million, a price-to-earnings ratio of 20.79 and a beta of 1.19.

ACRES Commercial Realty declared that its Board of Directors has initiated a share repurchase program on Wednesday, October 29th that permits the company to repurchase $7.50 million in shares. This repurchase authorization permits the company to reacquire up to 5.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On ACRES Commercial Realty

Large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets increased its holdings in shares of ACRES Commercial Realty by 120.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company’s stock valued at $29,000 after acquiring an additional 739 shares during the period. Bank of America Corp DE boosted its stake in ACRES Commercial Realty by 110.4% during the 2nd quarter. Bank of America Corp DE now owns 3,671 shares of the company’s stock worth $66,000 after purchasing an additional 1,926 shares during the period. Raymond James Financial Inc. grew its position in ACRES Commercial Realty by 2.5% during the 3rd quarter. Raymond James Financial Inc. now owns 80,129 shares of the company’s stock worth $1,696,000 after purchasing an additional 1,979 shares during the last quarter. Ritholtz Wealth Management increased its stake in ACRES Commercial Realty by 5.2% in the fourth quarter. Ritholtz Wealth Management now owns 42,300 shares of the company’s stock valued at $903,000 after purchasing an additional 2,101 shares during the period. Finally, Sei Investments Co. increased its stake in ACRES Commercial Realty by 22.5% in the second quarter. Sei Investments Co. now owns 12,314 shares of the company’s stock valued at $221,000 after purchasing an additional 2,263 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

ACR has been the topic of a number of analyst reports. Citizens Jmp raised their price objective 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. Wall Street Zen raised ACRES Commercial Realty from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Zacks Research raised ACRES Commercial Realty to a “hold” rating in a report on Friday, December 19th. Citigroup reaffirmed an “outperform” rating on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ACRES Commercial Realty in a report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.