ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 553 Shares

ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 553 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $22.30, for a total transaction of $12,331.90. Following the transaction, the insider now directly owns 858,572 shares of the company's stock, valued at $19,146,155.60. This trade represents a 0.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Large 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 Tuesday, June 17th, Eagle Point Credit Management sold 11,071 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.39, for a total transaction of $247,879.69.
• 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.
• On Friday, March 28th, Eagle Point Credit Management sold 1,172 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.48, for a total value of $26,346.56.
• On Wednesday, March 26th, Eagle Point Credit Management sold 3,384 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.48, for a total value of $76,072.32.
• On Monday, March 24th, Eagle Point Credit Management sold 854 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.45, for a total value of $19,172.30.
• On Wednesday, March 19th, Eagle Point Credit Management sold 9,937 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $23.08, for a total value of $229,345.96.

ACRES Commercial Realty Stock Down 2.7%

Shares of NYSE:ACR traded down $0.49 during midday trading on Friday, hitting $17.35. 92,746 shares of the company's stock traded hands, compared to its average volume of 25,776. The firm's fifty day moving average price is $18.21 and its two-hundred day moving average price is $18.59. The company has a debt-to-equity ratio of 2.89, a quick ratio of 88.11 and a current ratio of 88.11. ACRES Commercial Realty Corp. has a twelve month low of $12.70 and a twelve month high of $23.81. The company has a market cap of $128.22 million, a PE ratio of 59.83 and a beta of 1.75.

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

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. JMP Securities increased their target price on shares of ACRES Commercial Realty to $22.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. Jones Trading reaffirmed a "hold" rating on shares of ACRES Commercial Realty in a research report on Thursday, March 13th.

Institutional Investors Weigh In On ACRES Commercial Realty

Several hedge funds have recently modified their holdings of ACR. Cubist Systematic Strategies LLC acquired a new position in ACRES Commercial Realty during the 1st quarter worth approximately $133,000. Sei Investments Co. purchased a new stake in shares of ACRES Commercial Realty during the fourth quarter valued at approximately $162,000. Jane Street Group LLC acquired a new position in shares of ACRES Commercial Realty during the fourth quarter worth $213,000. Biltmore Family Office LLC boosted its stake in shares of ACRES Commercial Realty by 41.7% in the fourth quarter. Biltmore Family Office LLC now owns 22,104 shares of the company's stock valued at $357,000 after purchasing an additional 6,504 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in shares of ACRES Commercial Realty in the fourth quarter valued at $412,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

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.