ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Sells $290,078.40 in Stock

Key Points

• Eagle Point Credit Management, a major shareholder of ACRES Commercial Realty Corp. (NYSE: ACR), sold 13,008 shares for a total of $290,078.40 on July 31, representing a 1.59% decrease in their ownership.
• ACRES Commercial Realty's stock recently traded down 2.2% to $19.24, and has a 52-week low of $14.63 and a high of $23.81.
• The company reported a loss of ($0.97) earnings per share in its last quarterly earnings, significantly missing analysts' expectations of $0.18.

ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 13,008 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $22.30, for a total value of $290,078.40. Following the completion of the transaction, the insider directly owned 804,974 shares of the company's stock, valued at approximately $17,950,920.20. This represents a 1.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 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 Wednesday, July 30th, Eagle Point Credit Management sold 1,727 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.20, for a total value of $38,339.40.
• On Wednesday, July 23rd, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.32, for a total value of $2,232.00.
• On Tuesday, July 22nd, Eagle Point Credit Management sold 15,084 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.30, for a total value of $336,373.20.
• On Wednesday, July 16th, Eagle Point Credit Management sold 199 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.18, for a total value of $4,413.82.
• On Thursday, July 10th, Eagle Point Credit Management sold 6,160 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.21, for a total value of $136,813.60.
• On Tuesday, July 8th, Eagle Point Credit Management sold 1,676 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.20, for a total value of $37,207.20.
• On Monday, July 7th, Eagle Point Credit Management sold 273 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.20, for a total value of $6,060.60.
• 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 Friday, June 27th, Eagle Point Credit Management sold 1,958 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.48, for a total value of $44,015.84.
• On Thursday, June 26th, Eagle Point Credit Management sold 54 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.48, for a total value of $1,213.92.

ACRES Commercial Realty Stock Down 2.2%

ACR stock traded down $0.44 during trading on Friday, hitting $19.24. 22,405 shares of the company's stock were exchanged, compared to its average volume of 29,269. The company has a debt-to-equity ratio of 2.89, a current ratio of 88.11 and a quick ratio of 88.11. ACRES Commercial Realty Corp. has a 52-week low of $14.63 and a 52-week high of $23.81. The business has a 50-day moving average price of $18.11 and a two-hundred day moving average price of $18.86.

ACRES Commercial Realty (NYSE:ACR - Get Free Report) last issued its quarterly earnings data 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). ACRES Commercial Realty had a net margin of 26.22% and a return on equity of 3.35%. The firm had revenue of $5.60 million during the quarter, compared to analysts' expectations of $19.89 million. As a group, equities research analysts expect that ACRES Commercial Realty Corp. will post 0.78 EPS for the current fiscal year.

Institutional Investors Weigh In On ACRES Commercial Realty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACR. Ritholtz Wealth Management increased its holdings in shares of ACRES Commercial Realty by 12.0% in the second quarter. Ritholtz Wealth Management now owns 33,889 shares of the company's stock valued at $608,000 after purchasing an additional 3,618 shares during the period. Goldman Sachs Group Inc. acquired a new position in shares of ACRES Commercial Realty in the first quarter valued at approximately $488,000. Acadian Asset Management LLC increased its holdings in shares of ACRES Commercial Realty by 1.2% in the first quarter. Acadian Asset Management LLC now owns 156,453 shares of the company's stock valued at $3,386,000 after purchasing an additional 1,851 shares during the period. Jane Street Group LLC increased its holdings in shares of ACRES Commercial Realty by 190.8% in the first quarter. Jane Street Group LLC now owns 38,434 shares of the company's stock valued at $833,000 after purchasing an additional 25,216 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of ACRES Commercial Realty in the first quarter valued at approximately $133,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

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.

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