ACRES Commercial Realty (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 2,076 Shares

Key Points

• Eagle Point Credit Management, a major ACRES Commercial Realty shareholder, sold 2,076 shares on June 24 at an average price of $22.50, reducing its ownership by 0.28% to 731,230 shares.
• The firm has been consistently selling shares in recent weeks, including multiple transactions in June, suggesting ongoing insider distribution rather than a one-off trade.
• ACRES Commercial Realty shares rose 6.1% to $18.07 in Friday trading, while the company recently reported Q1 earnings of $0.02 per share, matching expectations but missing revenue estimates.

ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 2,076 shares of the stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $22.50, for a total value of $46,710.00. Following the transaction, the insider owned 731,230 shares in the company, valued at $16,452,675. This trade represents a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% 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 Monday, June 15th, Eagle Point Credit Management sold 5,981 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.37, for a total value of $145,756.97.
• 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 stock was sold at an average price of $25.47, for a total transaction of $5,476.05.
• On Wednesday, June 10th, Eagle Point Credit Management sold 1,527 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.56, for a total transaction of $34,449.12.
• 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 stock was 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 stock was sold at an average price of $22.12, for a total transaction of $24,221.40.

ACRES Commercial Realty Trading Up 6.1%

Shares of ACR traded up $1.04 during mid-day trading on Friday, reaching $18.07. The company had a trading volume of 182,505 shares, compared to its average volume of 26,550. ACRES Commercial Realty Corp. has a fifty-two week low of $15.61 and a fifty-two week high of $24.61. The firm has a fifty day simple moving average of $19.54 and a 200-day simple moving average of $19.84. The stock has a market cap of $128.80 million, a price-to-earnings ratio of 27.79 and a beta of 1.07. The company has a current ratio of 164.62, a quick ratio of 164.62 and a debt-to-equity ratio of 3.36.

ACRES Commercial Realty (NYSE:ACR - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.02. The firm 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%. On average, sell-side analysts anticipate that ACRES Commercial Realty Corp. will post 0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On ACRES Commercial Realty

Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets raised its stake in shares of ACRES Commercial Realty by 120.2% during the third quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company's stock valued at $29,000 after purchasing an additional 739 shares during the period. JPMorgan Chase & Co. purchased a new position in shares of ACRES Commercial Realty in the second quarter valued at $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of ACRES Commercial Realty in the second quarter valued at $60,000. Bank of America Corp DE grew its holdings in ACRES Commercial Realty by 110.4% during the 2nd quarter. Bank of America Corp DE now owns 3,671 shares of the company's stock valued at $66,000 after purchasing an additional 1,926 shares in the last quarter. Finally, MetLife Investment Management LLC acquired a new stake in ACRES Commercial Realty during the 4th quarter valued at $76,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ACR. Wall Street Zen raised shares of ACRES Commercial Realty from a "strong sell" rating to a "sell" rating in a research report on Saturday, April 18th. Weiss Ratings raised shares of ACRES Commercial Realty from a "sell (d+)" rating to a "hold (c)" rating in a research report on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $24.50.

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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