ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Sells $49,883.90 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 2,222 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $22.45, for a total value of $49,883.90. Following the completion of the sale, the insider now directly owns 845,279 shares of the company's stock, valued at $18,976,513.55. This represents a 0.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 transactions with the SEC.

Eagle Point Credit Management also recently made the following trade(s):

• On Wednesday, June 25th, Eagle Point Credit Management sold 10 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.48, for a total transaction of $224.80.
• 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 shares were 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 shares were 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 stock was sold at an average price of $22.48, for a total transaction of $26,346.56.

ACRES Commercial Realty Stock Up 0.3%

NYSE ACR traded up $0.06 during trading hours on Thursday, reaching $17.31. 44,490 shares of the company's stock were exchanged, compared to its average volume of 26,240. The company has a market capitalization of $127.92 million, a price-to-earnings ratio of 59.69 and a beta of 1.75. ACRES Commercial Realty Corp. has a one year low of $12.74 and a one year high of $23.81. The company has a debt-to-equity ratio of 2.89, a quick ratio of 88.11 and a current ratio of 88.11. The company's 50-day moving average is $18.20 and its two-hundred day moving average is $18.59.

ACRES Commercial Realty (NYSE:ACR - Get Free Report) last announced its 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 firm had revenue of $5.60 million during the quarter, compared to analyst estimates of $19.89 million. On average, analysts forecast that ACRES Commercial Realty Corp. will post 0.78 EPS for the current fiscal year.

Institutional Trading of ACRES Commercial Realty

Hedge funds and other institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC boosted its holdings in shares of ACRES Commercial Realty by 1.2% in the 1st quarter. Acadian Asset Management LLC now owns 156,453 shares of the company's stock valued at $3,386,000 after buying an additional 1,851 shares during the last quarter. Jane Street Group LLC grew its stake 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 acquiring an additional 25,216 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in shares of ACRES Commercial Realty during the first quarter worth approximately $488,000. Cubist Systematic Strategies LLC bought a new stake in shares of ACRES Commercial Realty during the 1st quarter valued at $133,000. Finally, Informed Momentum Co LLC acquired a new position in shares of ACRES Commercial Realty in the 1st quarter valued at approximately $697,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ACR has been the subject of a number of research analyst reports. Jones Trading reaffirmed a "hold" rating on shares of ACRES Commercial Realty in a research note on Thursday, March 13th. JMP Securities upped their price target on ACRES Commercial Realty to $22.00 and gave the company a "buy" rating in a research note on Friday, March 7th.

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.

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