Insider Selling: ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells 2,825 Shares of Stock

Key Points

• Major shareholder Eagle Point Credit Management sold a total of 2,825 shares of ACRES Commercial Realty on September 17th for approximately $63,873.25, resulting in a 0.36% decrease in their ownership.
• ACRES Commercial Realty's stock recently traded down 1.6% to $20.87, with a 12-month range between $14.87 and $23.81.
• Analysts have raised the target price for ACRES Commercial Realty from $22.00 to $23.50, reflecting a consensus rating of "Moderate Buy."

ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 2,825 shares of the business's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $22.61, for a total transaction of $63,873.25. Following the completion of the sale, the insider directly owned 775,328 shares of the company's stock, valued at approximately $17,530,166.08. The trade was a 0.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Major 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 Friday, September 19th, Eagle Point Credit Management sold 402 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.62, for a total transaction of $9,093.24.
• On Thursday, September 18th, Eagle Point Credit Management sold 2,456 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.61, for a total transaction of $55,530.16.
• On Tuesday, September 16th, Eagle Point Credit Management sold 10,062 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.57, for a total transaction of $227,099.34.
• On Monday, September 15th, Eagle Point Credit Management sold 389 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.57, for a total transaction of $8,779.73.
• On Friday, September 12th, Eagle Point Credit Management sold 310 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.57, for a total transaction of $6,996.70.
• On Thursday, September 11th, Eagle Point Credit Management sold 5,945 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.52, for a total transaction of $133,881.40.
• On Wednesday, September 10th, Eagle Point Credit Management sold 3,142 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.48, for a total transaction of $70,632.16.
• On Tuesday, September 9th, Eagle Point Credit Management sold 1,643 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.43, for a total transaction of $36,852.49.
• On Monday, September 8th, Eagle Point Credit Management sold 2,188 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.43, for a total transaction of $49,076.84.
• On Friday, September 5th, Eagle Point Credit Management sold 90 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.40, for a total transaction of $2,016.00.

ACRES Commercial Realty Price Performance

NYSE ACR traded up $0.31 during trading on Monday, hitting $21.26. 12,353 shares of the company's stock were exchanged, compared to its average volume of 16,217. The company has a current ratio of 69.53, a quick ratio of 69.53 and a debt-to-equity ratio of 3.01. The company has a market cap of $157.95 million, a PE ratio of -1,062.42 and a beta of 1.82. ACRES Commercial Realty Corp. has a fifty-two week low of $14.87 and a fifty-two week high of $23.81. The stock's 50 day moving average price is $19.98 and its two-hundred day moving average price is $19.29.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ACR. Geode Capital Management LLC increased its stake 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 valued at $2,476,000 after buying an additional 76,688 shares during the period. Gratia Capital LLC increased its stake in shares of ACRES Commercial Realty by 64.3% in the second quarter. Gratia Capital LLC now owns 125,994 shares of the company's stock valued at $2,260,000 after buying an additional 49,312 shares during the period. Informed Momentum Co LLC acquired a new position in shares of ACRES Commercial Realty in the first quarter valued at approximately $697,000. Raymond James Financial Inc. increased its stake 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 valued at $1,402,000 after buying an additional 29,503 shares during the period. Finally, Acadian Asset Management LLC increased its stake in shares of ACRES Commercial Realty by 16.8% in the second quarter. Acadian Asset Management LLC now owns 182,679 shares of the company's stock valued at $3,272,000 after buying an additional 26,226 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Wall Street Analyst Weigh In

Separately, JMP Securities boosted their target price on ACRES Commercial Realty from $22.00 to $23.50 and gave the stock a "market outperform" rating in a research note on Thursday, September 11th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $23.50.

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.