Eagle Point Credit Management Sells 910 Shares of ACRES Commercial Realty (NYSE:ACR) Stock

Key Points

• Eagle Point Credit Management sold 910 shares of ACRES Commercial Realty at an average price of $22.35, resulting in a total transaction of $20,338.50.
• The insider's total ownership after the sale decreased slightly to 794,075 shares, valued at approximately $17,747,576.25.
• ACRES Commercial Realty's stock price recently traded at $21.09, with a 1-year range of $14.87 to $23.81.

ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 910 shares of the firm's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $22.35, for a total transaction of $20,338.50. Following the transaction, the insider owned 794,075 shares of the company's stock, valued at approximately $17,747,576.25. The trade was a 0.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large 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 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 shares were 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.
• On Tuesday, September 2nd, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The stock was 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 stock was 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 transaction of $18,997.50.

ACRES Commercial Realty Price Performance

NYSE:ACR traded down $0.38 during mid-day trading on Friday, hitting $20.78. 8,752 shares of the stock traded hands, compared to its average volume of 17,110. The business's 50-day moving average price is $19.61 and its 200 day moving average price is $19.29. The company has a market cap of $154.31 million, a PE ratio of -1,038.48 and a beta of 1.82. ACRES Commercial Realty Corp. has a 12-month low of $14.87 and a 12-month high of $23.81. The company has a quick ratio of 69.53, a current ratio of 69.53 and a debt-to-equity ratio of 3.01.

Institutional Investors Weigh In On ACRES Commercial Realty

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

Analyst Ratings Changes

Separately, JMP Securities increased 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 equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.