ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 1,958 Shares

ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 1,958 shares of the firm's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $22.48, for a total value of $44,015.84. Following the sale, the insider directly owned 843,257 shares of the company's stock, valued at approximately $18,956,417.36. This represents a 0.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 Monday, June 30th, Eagle Point Credit Management sold 56 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.52, for a total value of $1,261.12.
• On Thursday, June 26th, Eagle Point Credit Management sold 54 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.48, for a total transaction of $1,213.92.
• On Wednesday, June 25th, Eagle Point Credit Management sold 10 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.48, for a total transaction of $224.80.
• On Tuesday, June 24th, Eagle Point Credit Management sold 2,222 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.45, for a total transaction of $49,883.90.
• On Tuesday, June 17th, Eagle Point Credit Management sold 11,071 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.39, for a total transaction of $247,879.69.
• On Monday, June 16th, Eagle Point Credit Management sold 553 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.30, for a total transaction of $12,331.90.
• On Friday, June 13th, Eagle Point Credit Management sold 400 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.25, for a total value of $8,900.00.

ACRES Commercial Realty Stock Down 1.1%

ACRES Commercial Realty stock traded down $0.20 during trading hours on Wednesday, hitting $17.84. The company had a trading volume of 37,608 shares, compared to its average volume of 29,919. ACRES Commercial Realty Corp. has a fifty-two week low of $13.03 and a fifty-two week high of $23.81. The company has a debt-to-equity ratio of 2.89, a current ratio of 88.11 and a quick ratio of 88.11. The firm has a market capitalization of $131.84 million, a P/E ratio of 61.52 and a beta of 1.69. The firm's fifty day moving average is $18.25 and its 200-day moving average is $18.61.

ACRES Commercial Realty (NYSE:ACR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.97) earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($1.15). The company had revenue of $5.60 million during the quarter, compared to analyst estimates of $19.89 million. ACRES Commercial Realty had a return on equity of 2.95% and a net margin of 22.98%. On average, research analysts forecast that ACRES Commercial Realty Corp. will post 0.78 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on ACR. JMP Securities upped their price target on ACRES Commercial Realty to $22.00 and gave the company a "buy" rating in a research report on Friday, March 7th. Jones Trading reiterated a "hold" rating on shares of ACRES Commercial Realty in a report on Thursday, March 13th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ACR. Nokomis Capital L.L.C. lifted its holdings in shares of ACRES Commercial Realty by 1.1% during the 4th quarter. Nokomis Capital L.L.C. now owns 264,597 shares of the company's stock valued at $4,273,000 after buying an additional 2,889 shares during the last quarter. Acadian Asset Management LLC raised its position in ACRES Commercial Realty by 1.2% during the first quarter. Acadian Asset Management LLC now owns 156,453 shares of the company's stock valued at $3,386,000 after acquiring an additional 1,851 shares in the last quarter. Gratia Capital LLC lifted its stake in ACRES Commercial Realty by 1.3% in the fourth quarter. Gratia Capital LLC now owns 101,314 shares of the company's stock valued at $1,636,000 after acquiring an additional 1,314 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in ACRES Commercial Realty by 2.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 61,759 shares of the company's stock worth $997,000 after acquiring an additional 1,458 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of ACRES Commercial Realty during the 4th quarter worth $829,000. 40.03% of the stock is owned by institutional investors and hedge funds.

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.