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 the business's stock in a transaction dated Thursday, September 18th. The shares were 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 in the company, valued at $17,508,437.87. This trade represents a 0.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more 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 shares were 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 shares were 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 shares were 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 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 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 shares were 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 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 Trading Down 1.6%

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

Institutional Investors Weigh In On ACRES Commercial Realty

A number of institutional investors have recently modified their holdings of the business. Gratia Capital LLC grew 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 valued at $2,260,000 after buying an additional 49,312 shares during the last quarter. Bank of America Corp DE grew its position in shares of ACRES Commercial Realty by 110.4% during 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 during the last quarter. Raymond James Financial Inc. grew 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 valued at $1,402,000 after buying an additional 29,503 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of ACRES Commercial Realty during the 2nd quarter valued at about $60,000. Finally, Sei Investments Co. grew its position in shares of ACRES Commercial Realty by 22.5% during the 2nd quarter. Sei Investments Co. now owns 12,314 shares of the company's stock valued at $221,000 after buying an additional 2,263 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

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 report on Thursday, September 11th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, ACRES Commercial Realty currently has a consensus 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.