ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Sells $38,339.40 in Stock

Key Points

• Major shareholder Eagle Point Credit Management sold $38,339.40 worth of ACRES Commercial Realty stock, reducing their ownership by 0.21% and leaving them with approximately 817,982 shares.
• ACRES Commercial Realty's stock price fell by 2.2%, trading at $19.24 with a market volume of 22,405 shares.
• ACRES Commercial Realty reported a net loss of ($0.97) earnings per share in their last quarterly earnings, significantly missing analysts' expectations of $0.18 EPS.

ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 1,727 shares of the company's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $22.20, for a total transaction of $38,339.40. Following the sale, the insider directly owned 817,982 shares in the company, valued at approximately $18,159,200.40. This trade represents a 0.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 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 Thursday, July 31st, Eagle Point Credit Management sold 13,008 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.30, for a total transaction of $290,078.40.
• 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 stock was sold at an average price of $22.30, for a total transaction of $336,373.20.
• On Wednesday, July 16th, Eagle Point Credit Management sold 199 shares of ACRES Commercial Realty stock. The stock was 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 stock was sold at an average price of $22.21, for a total transaction 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 transaction of $37,207.20.
• On Monday, July 7th, Eagle Point Credit Management sold 273 shares of ACRES Commercial Realty stock. The shares were 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 shares were sold at an average price of $22.52, for a total transaction of $1,261.12.
• On Friday, June 27th, Eagle Point Credit Management sold 1,958 shares of ACRES Commercial Realty stock. The shares were 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 shares were sold at an average price of $22.48, for a total value of $1,213.92.

ACRES Commercial Realty Trading Down 2.2%

ACRES Commercial Realty stock traded down $0.44 during trading hours on Friday, reaching $19.24. The stock had a trading volume of 22,405 shares, compared to its average volume of 29,269. The company has a fifty day simple moving average of $18.11 and a 200-day simple moving average of $18.86. ACRES Commercial Realty Corp. has a 52 week low of $14.63 and a 52 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.

ACRES Commercial Realty (NYSE:ACR - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($1.15). The business had revenue of $5.60 million during the quarter, compared to analysts' expectations of $19.89 million. ACRES Commercial Realty had a return on equity of 3.35% and a net margin of 26.22%. As a group, sell-side analysts anticipate that ACRES Commercial Realty Corp. will post 0.78 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC bought a new position in shares of ACRES Commercial Realty during the first quarter valued at $133,000. Sei Investments Co. bought a new position in ACRES Commercial Realty in the 4th quarter worth about $162,000. Jane Street Group LLC purchased a new stake in ACRES Commercial Realty during the 4th quarter valued at about $213,000. Biltmore Family Office LLC increased its stake in ACRES Commercial Realty by 41.7% during the 4th 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 in the last quarter. Finally, Goldman Sachs Group Inc. purchased a new position in ACRES Commercial Realty in the first quarter worth about $488,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.