Eagle Point Credit Management Sells 849 Shares of ACRES Commercial Realty (NYSE:ACR) Stock

Key Points

• Eagle Point Credit Management sold 849 shares of ACRES Commercial Realty at an average price of $25.47, reducing its stake by 0.25% to 343,036 shares. The filing was disclosed with the SEC, as required for large shareholders.
• The insider has been actively trimming its position, with multiple additional sales in recent weeks, including a 5,806-share sale on June 1 and a 1,527-share sale on June 10. These transactions suggest a steady reduction rather than a one-time trade.
• ACRES Commercial Realty recently traded at $18.06 and reported Q1 earnings of $0.02 per share, matching estimates but falling short on revenue. Analysts currently rate the stock a Moderate Buy with an average target price of $24.50.

ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 849 shares of the company's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $25.47, for a total value of $21,624.03. Following the sale, the insider owned 343,036 shares of the company's stock, valued at $8,737,126.92. This trade represents a 0.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own at least 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 Thursday, June 11th, Eagle Point Credit Management sold 215 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.47, for a total value of $5,476.05.
• On Wednesday, June 10th, Eagle Point Credit Management sold 1,527 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.56, for a total value of $34,449.12.
• On Wednesday, June 3rd, Eagle Point Credit Management sold 422 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.55, for a total value of $9,516.10.
• On Monday, June 1st, Eagle Point Credit Management sold 5,806 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.41, for a total value of $147,530.46.
• On Wednesday, May 20th, Eagle Point Credit Management sold 404 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.50, for a total value of $9,090.00.
• On Monday, March 30th, Eagle Point Credit Management sold 1,095 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.12, for a total value of $24,221.40.
• On Monday, March 16th, Eagle Point Credit Management sold 2,954 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.07, for a total value of $65,194.78.

ACRES Commercial Realty Stock Performance

NYSE:ACR traded up $0.04 during trading on Friday, reaching $18.06. The company's stock had a trading volume of 28,365 shares, compared to its average volume of 21,506. The firm has a market cap of $128.77 million, a price-to-earnings ratio of 27.79 and a beta of 1.07. The company has a debt-to-equity ratio of 3.36, a quick ratio of 164.62 and a current ratio of 164.62. The firm has a 50 day moving average of $19.99 and a 200-day moving average of $20.16. ACRES Commercial Realty Corp. has a 12 month low of $17.06 and a 12 month high of $24.61.

ACRES Commercial Realty (NYSE:ACR - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.02. The firm had revenue of $17.82 million during the quarter, compared to the consensus estimate of $20.55 million. ACRES Commercial Realty had a return on equity of 5.61% and a net margin of 37.20%. Research analysts expect that ACRES Commercial Realty Corp. will post 0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ACR. Eagle Point Credit Management LLC purchased a new position in shares of ACRES Commercial Realty during the 4th quarter valued at $25,118,000. Oaktree Capital Management LP purchased a new position in shares of ACRES Commercial Realty during the 3rd quarter valued at $8,282,000. Geode Capital Management LLC lifted its position in shares of ACRES Commercial Realty by 125.1% during the 2nd 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 last quarter. Raymond James Financial Inc. lifted 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. Finally, Jane Street Group LLC lifted its position in shares of ACRES Commercial Realty by 190.8% during the 1st quarter. Jane Street Group LLC now owns 38,434 shares of the company's stock valued at $833,000 after buying an additional 25,216 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ACR. Wall Street Zen upgraded ACRES Commercial Realty from a "strong sell" rating to a "sell" rating in a research note on Saturday, April 18th. Weiss Ratings raised ACRES Commercial Realty from a "sell (d+)" rating to a "hold (c)" rating in a research report on Monday, May 11th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $24.50.

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.

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