Eagle Point Credit Management Sells 2,825 Shares of ACRES Commercial Realty (NYSE:ACR) 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 on Wednesday, September 17th. The stock was sold at an average price of $22.61, for a total transaction of $63,873.25. Following the completion of the sale, the insider owned 775,328 shares in the company, valued at approximately $17,530,166.08. The trade was a 0.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company's shares 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 shares were 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 shares were 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 shares were 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 shares were 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 Stock Down 1.6%

Shares of NYSE:ACR traded down $0.33 during trading hours on Friday, reaching $20.87. The stock had a trading volume of 59,476 shares, compared to its average volume of 15,139. ACRES Commercial Realty Corp. has a 1 year low of $14.87 and a 1 year high of $23.81. The firm's 50 day moving average is $19.91 and its 200-day moving average is $19.30. The company has a debt-to-equity ratio of 3.01, a quick ratio of 69.53 and a current ratio of 69.53. The stock has a market capitalization of $155.06 million, a price-to-earnings ratio of -1,042.98 and a beta of 1.82.

Wall Street Analysts Forecast Growth

Separately, JMP Securities increased their price target on shares of 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 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 company has an average rating of "Moderate Buy" and a consensus target price of $23.50.

Hedge Funds Weigh In On ACRES Commercial Realty

Several institutional investors have recently modified their holdings of ACR. JPMorgan Chase & Co. bought a new position in shares of ACRES Commercial Realty during the second quarter worth about $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in ACRES Commercial Realty in the 2nd quarter valued at about $60,000. Bank of America Corp DE grew its position in ACRES Commercial Realty by 110.4% in the 2nd quarter. Bank of America Corp DE now owns 3,671 shares of the company's stock valued at $66,000 after buying an additional 1,926 shares in the last quarter. Russell Investments Group Ltd. bought a new position in ACRES Commercial Realty in the 2nd quarter valued at about $93,000. Finally, New York State Common Retirement Fund bought a new position in ACRES Commercial Realty in the 2nd quarter valued at about $106,000. Institutional investors own 40.03% of the company's stock.

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.