ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells $49,076.84 in Stock

Key Points

• Eagle Point Credit Management, a major shareholder of ACRES Commercial Realty, sold 2,188 shares of the company's stock on September 8th at an average price of $22.43, totaling $49,076.84.
• Following this transaction, Eagle Point now directly owns 791,797 shares, valued at approximately $17.76 million, reflecting a 0.28% decrease in their ownership.
• ACRES Commercial Realty's stock price fell 0.8% to $21.09 on the same day, with a trading volume significantly lower than its average.

ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 2,188 shares of ACRES Commercial Realty stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $22.43, for a total value of $49,076.84. Following the completion of the sale, the insider directly owned 791,797 shares in the company, valued at $17,760,006.71. This represents a 0.28% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large 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 Thursday, September 11th, Eagle Point Credit Management sold 5,945 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.52, for a total value of $133,881.40.
• On Wednesday, September 10th, Eagle Point Credit Management sold 3,142 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.48, for a total value of $70,632.16.
• On Tuesday, September 9th, Eagle Point Credit Management sold 1,643 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.43, for a total value of $36,852.49.
• On Friday, September 5th, Eagle Point Credit Management sold 90 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.40, for a total value of $2,016.00.
• On Thursday, September 4th, Eagle Point Credit Management sold 910 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.35, for a total value of $20,338.50.
• On Tuesday, September 2nd, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.35, for a total value of $2,235.00.
• On Friday, August 29th, Eagle Point Credit Management sold 658 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.52, for a total value of $14,818.16.
• On Thursday, August 28th, Eagle Point Credit Management sold 323 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.35, for a total value of $7,219.05.
• On Wednesday, August 27th, Eagle Point Credit Management sold 1,349 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.35, for a total value of $30,150.15.
• On Tuesday, August 26th, Eagle Point Credit Management sold 850 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.35, for a total value of $18,997.50.

ACRES Commercial Realty Stock Performance

ACR traded down $0.38 during trading on Friday, reaching $20.78. The company's stock had a trading volume of 8,752 shares, compared to its average volume of 17,110. ACRES Commercial Realty Corp. has a 52-week low of $14.87 and a 52-week high of $23.81. The company's fifty day moving average price is $19.61 and its 200-day moving average price is $19.29. The company has a market capitalization of $154.31 million, a price-to-earnings ratio of -1,038.48 and a beta of 1.82. The company has a debt-to-equity ratio of 3.01, a quick ratio of 69.53 and a current ratio of 69.53.

Institutional Investors Weigh In On ACRES Commercial Realty

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Nokomis Capital L.L.C. lifted its position in shares of ACRES Commercial Realty by 1.1% during the 4th quarter. Nokomis Capital L.L.C. now owns 264,597 shares of the company's stock valued at $4,273,000 after acquiring an additional 2,889 shares during the period. Acadian Asset Management LLC raised its position in shares of ACRES Commercial Realty by 16.8% during the 2nd quarter. Acadian Asset Management LLC now owns 182,679 shares of the company's stock worth $3,272,000 after purchasing an additional 26,226 shares during the last quarter. Geode Capital Management LLC raised its position in shares of ACRES Commercial Realty by 125.1% during the 2nd quarter. Geode Capital Management LLC now owns 137,996 shares of the company's stock worth $2,476,000 after purchasing an additional 76,688 shares during the last quarter. Gratia Capital LLC raised its position in shares of ACRES Commercial Realty by 64.3% during the 2nd quarter. Gratia Capital LLC now owns 125,994 shares of the company's stock worth $2,260,000 after purchasing an additional 49,312 shares during the last quarter. Finally, Raymond James Financial Inc. raised its position in shares of ACRES Commercial Realty by 60.6% during the 2nd quarter. Raymond James Financial Inc. now owns 78,150 shares of the company's stock worth $1,402,000 after purchasing an additional 29,503 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, JMP Securities lifted their price target on shares of ACRES Commercial Realty from $22.00 to $23.50 and gave the company a "market outperform" rating in a research report on Thursday. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $23.50.

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.