ACRES Commercial Realty (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 1,527 Shares

Key Points

• Eagle Point Credit Management, ACRES Commercial Realty’s major shareholder, sold 1,527 shares on June 10 at an average price of $22.56, and it has also made several additional sales in recent days.
• ACRES Commercial Realty shares rose 0.2% to $18.06, with trading volume above average; the stock remains below its 50-day and 200-day moving averages.
• The company recently reported Q1 earnings of $0.02 per share, meeting expectations, while revenue came in below estimates; analysts currently rate the stock a Moderate Buy with a $24.50 price target.

ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 1,527 shares of the business's stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $22.56, for a total value of $34,449.12. Following the sale, the insider owned 344,100 shares of the company's stock, valued at approximately $7,762,896. The trade was a 0.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more 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 Friday, June 12th, Eagle Point Credit Management sold 849 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.47, for a total transaction of $21,624.03.
• On Thursday, June 11th, Eagle Point Credit Management sold 215 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.47, for a total transaction of $5,476.05.
• On Wednesday, June 3rd, Eagle Point Credit Management sold 422 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.55, for a total transaction of $9,516.10.
• On Monday, June 1st, Eagle Point Credit Management sold 5,806 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.41, for a total transaction of $147,530.46.
• On Wednesday, May 20th, Eagle Point Credit Management sold 404 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.50, for a total transaction of $9,090.00.
• On Monday, March 30th, Eagle Point Credit Management sold 1,095 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.12, for a total transaction of $24,221.40.
• On Monday, March 16th, Eagle Point Credit Management sold 2,954 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.07, for a total value of $65,194.78.

ACRES Commercial Realty Trading Up 0.2%

NYSE ACR traded up $0.04 on Friday, reaching $18.06. The company had a trading volume of 28,365 shares, compared to its average volume of 21,506. The stock's 50 day moving average is $19.99 and its 200-day moving average is $20.16. The stock has a market cap of $128.77 million, a price-to-earnings ratio of 27.79 and a beta of 1.07. The company has a quick ratio of 164.62, a current ratio of 164.62 and a debt-to-equity ratio of 3.36. ACRES Commercial Realty Corp. has a 52 week low of $17.06 and a 52 week high of $24.61.

ACRES Commercial Realty (NYSE:ACR - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.02 EPS for the quarter, meeting analysts' consensus estimates of $0.02. The business had revenue of $17.82 million during the quarter, compared to the consensus estimate of $20.55 million. ACRES Commercial Realty had a return on equity of 5.61% and a net margin of 37.20%. Equities analysts predict that ACRES Commercial Realty Corp. will post 0.25 earnings per share for the current year.

Institutional Investors Weigh In On ACRES Commercial Realty

Several large investors have recently modified their holdings of ACR. Eagle Point Credit Management LLC bought a new stake in shares of ACRES Commercial Realty in the fourth quarter worth about $25,118,000. Oaktree Capital Management LP bought a new stake in shares of ACRES Commercial Realty in the third quarter worth about $8,282,000. Geode Capital Management LLC increased its holdings in shares of ACRES Commercial Realty by 125.1% in the second quarter. Geode Capital Management LLC now owns 137,996 shares of the company's stock worth $2,476,000 after acquiring an additional 76,688 shares in the last quarter. Raymond James Financial Inc. increased its holdings in shares of ACRES Commercial Realty by 60.6% in the second quarter. Raymond James Financial Inc. now owns 78,150 shares of the company's stock worth $1,402,000 after acquiring an additional 29,503 shares in the last quarter. Finally, 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 worth $833,000 after acquiring an additional 25,216 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Weiss Ratings upgraded ACRES Commercial Realty from a "sell (d+)" rating to a "hold (c)" rating in a report on Monday, May 11th. Wall Street Zen upgraded ACRES Commercial Realty from a "strong sell" rating to a "sell" rating in a report on Saturday, April 18th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.50.

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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