Eagle Point Credit Management Sells 1,676 Shares of ACRES Commercial Realty Corp. (NYSE:ACR) Stock

ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 1,676 shares of the stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $22.20, for a total value of $37,207.20. Following the completion of the sale, the insider owned 841,252 shares in the company, valued at approximately $18,675,794.40. The trade was a 0.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own 10% or more 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 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.
• 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 value of $224.80.
• On Tuesday, June 24th, Eagle Point Credit Management sold 2,222 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.45, for a total value 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 value of $247,879.69.
• On Monday, June 16th, Eagle Point Credit Management sold 553 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.30, for a total value 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 0.4%

Shares of NYSE:ACR traded down $0.08 on Friday, reaching $17.83. The company had a trading volume of 19,365 shares, compared to its average volume of 30,400. ACRES Commercial Realty Corp. has a 52-week low of $13.47 and a 52-week high of $23.81. The firm's 50 day simple moving average is $18.18 and its 200-day simple moving average is $18.68. The firm has a market capitalization of $131.73 million, a PE ratio of 61.47 and a beta of 1.69. The company has a current ratio of 88.11, a quick ratio of 88.11 and a debt-to-equity ratio of 2.89.

ACRES Commercial Realty (NYSE:ACR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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. As a group, analysts expect that ACRES Commercial Realty Corp. will post 0.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Jones Trading restated a "hold" rating on shares of ACRES Commercial Realty in a report on Thursday, March 13th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC purchased a new position in ACRES Commercial Realty during the 1st quarter worth $133,000. Sei Investments Co. purchased a new stake in shares of ACRES Commercial Realty during the fourth quarter worth about $162,000. Jane Street Group LLC purchased a new stake in shares of ACRES Commercial Realty during the fourth quarter worth about $213,000. Biltmore Family Office LLC increased its holdings in shares of ACRES Commercial Realty by 41.7% during the fourth quarter. Biltmore Family Office LLC now owns 22,104 shares of the company's stock valued at $357,000 after acquiring an additional 6,504 shares in the last quarter. Finally, Goldman Sachs Group Inc. purchased a new position in shares of ACRES Commercial Realty in the 1st quarter valued at approximately $488,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

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.