ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 1,390 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 1,390 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $24.87, for a total value of $34,569.30. Following the transaction, the insider now owns 602,105 shares in the company, valued at approximately $14,974,351.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Eagle Point Credit Management also recently made the following trade(s):

• On Friday, August 23rd, Eagle Point Credit Management sold 5,128 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.57, for a total transaction of $125,994.96.
• On Monday, August 19th, Eagle Point Credit Management sold 3,119 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.87, for a total transaction of $77,569.53.
• On Thursday, August 15th, Eagle Point Credit Management sold 4,706 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.87, for a total transaction of $117,038.22.
• On Tuesday, August 13th, Eagle Point Credit Management sold 1,309 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.85, for a total value of $32,528.65.
• On Friday, August 9th, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.85, for a total value of $2,485.00.
• On Wednesday, August 7th, Eagle Point Credit Management sold 4,664 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.71, for a total transaction of $115,247.44.
• On Friday, August 2nd, Eagle Point Credit Management sold 2,635 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.88, for a total transaction of $65,558.80.
• On Wednesday, July 31st, Eagle Point Credit Management sold 15,096 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.86, for a total transaction of $375,286.56.
• On Monday, July 29th, Eagle Point Credit Management sold 376 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.75, for a total value of $9,306.00.
• On Tuesday, July 23rd, Eagle Point Credit Management sold 386 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.75, for a total value of $9,553.50.

ACRES Commercial Realty Stock Performance

ACRES Commercial Realty stock traded up $0.01 during mid-day trading on Friday, reaching $15.74. 10,272 shares of the company traded hands, compared to its average volume of 22,758. The firm’s fifty day moving average is $14.09 and its two-hundred day moving average is $13.03. The company has a market capitalization of $125.27 million, a price-to-earnings ratio of 22.49 and a beta of 2.04. ACRES Commercial Realty Corp. has a fifty-two week low of $6.62 and a fifty-two week high of $16.13. The company has a debt-to-equity ratio of 3.56, a current ratio of 100.49 and a quick ratio of 100.49.

Hedge Funds Weigh In On ACRES Commercial Realty

Hedge funds have recently made changes to their positions in the company. Nokomis Capital L.L.C. purchased a new stake in ACRES Commercial Realty during the 1st quarter valued at about $3,729,000. O Shaughnessy Asset Management LLC purchased a new stake in ACRES Commercial Realty in the first quarter valued at approximately $580,000. Acadian Asset Management LLC boosted its position in ACRES Commercial Realty by 19.2% in the first quarter. Acadian Asset Management LLC now owns 105,420 shares of the company’s stock valued at $1,480,000 after buying an additional 16,986 shares during the last quarter. Biltmore Family Office LLC acquired a new position in ACRES Commercial Realty in the 2nd quarter worth approximately $160,000. Finally, Janney Montgomery Scott LLC acquired a new stake in ACRES Commercial Realty during the 1st quarter valued at approximately $172,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, JMP Securities boosted their price target on ACRES Commercial Realty from $14.00 to $15.50 and gave the stock a “market outperform” rating in a research note on Tuesday, April 30th.

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.