Insider Selling: ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells 2,456 Shares of Stock

Key Points

• Major shareholder Eagle Point Credit Management sold a total of $55,530.16 worth of ACRES Commercial Realty stock, reducing their ownership by 0.32% to 774,367 shares.
• The stock's current price is $20.87, down by $0.33, with a trading volume significantly higher than its average, indicating increased market activity.
• Analyst firm JMP Securities upgraded the target price for ACRES Commercial Realty from $22.00 to $23.50, while giving the stock a "market outperform" rating.

ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 2,456 shares of ACRES Commercial Realty stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $22.61, for a total value of $55,530.16. Following the completion of the transaction, the insider owned 774,367 shares of the company's stock, valued at approximately $17,508,437.87. This trade represents a 0.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own at least 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 value of $9,093.24.
• On Wednesday, September 17th, Eagle Point Credit Management sold 2,825 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.61, for a total value of $63,873.25.
• 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 value 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 value 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 value 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 value 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 value 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 value 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 value of $49,076.84.
• 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.

ACRES Commercial Realty Trading Up 1.5%

ACR traded up $0.31 during trading hours on Monday, reaching $21.26. 12,353 shares of the company's stock traded hands, compared to its average volume of 16,217. The firm has a 50-day moving average price of $19.98 and a 200 day moving average price of $19.29. ACRES Commercial Realty Corp. has a 52-week low of $14.87 and a 52-week 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. The firm has a market capitalization of $157.95 million, a PE ratio of -1,062.42 and a beta of 1.82.

Institutional Investors Weigh In On ACRES Commercial Realty

Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. purchased a new stake in shares of ACRES Commercial Realty in the 2nd quarter worth $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of ACRES Commercial Realty in the 2nd quarter worth $60,000. Bank of America Corp DE lifted its holdings in shares of 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 worth $66,000 after buying an additional 1,926 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of ACRES Commercial Realty in the 2nd quarter worth $93,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of ACRES Commercial Realty in the 2nd quarter worth $106,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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